In this Equitile Conversations episode, Gerald Ashley and George Cooper, joined by guest Michael Power, discuss the outdated term ”emerging markets.” 

They argue it inaccurately describes dynamic economies like China, which lead in technology and growth, while traditional ”developed” markets like the US exhibit characteristics once associated with emerging markets, such as fiscal issues and currency volatility.

They criticise the reliance on indices and ETFs that oversimplify investment decisions and highlight a lack of holistic asset allocation. Power notes the variety of opportunities in so-called emerging markets, driven by long-term growth potential, and discusses de-dollarisation trends, with countries like India and the UAE trading in local currencies.

Cooper emphasises unconstrained investing, focusing on companies with strong growth in these regions.

About Michael Power

Michael Power is a prominent South African financial markets commentator and strategist, known for his extensive career in global investment, with a focus on Africa and emerging markets. His career spans several decades and includes roles at major financial institutions such as Anglo American, NM Rothschild & Sons, HSBC, and Baring Asset Management, with work in South Africa, London, and Kenya. Power’s expertise centres on geo-economics, the role of Asia in the 21st century, and Africa’s economic relationships with global markets.

This episodes book recommendations

Reflecting themes of financial history, economic dystopia, and dollar dominance challenges.

Gerald

The Railway King by Robert Beaumont

George

The Mandibles by Lionel Shriver

Michael 

Our Dollar, Your Problem by Kenneth Rogoff

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