THE BIG EMERGING MARKETS

During his tenure as Under Secretary of Commerce, the author was one of the architects of the Clinton administration's Big Emerging Markets policy under Secretary of Commerce Ron Brown. He is now

dean of the Yale School of Management. The Clinton policy emerged out of a growing conviction that some ten markets will account for the overwhelming growth potential in world imports, not to mention commensurate growth in economic and political influence around the world. These markets include, in Asian--the Chinese Economic Area (China, Hong Kong and Taiwan), South Korea, Indonesia and India; in Africa--South Africa; in Central Europe--Poland and Turkey; and in Latin America Mexico,Brazil and Argentina. The administration concluded that, because many of these c

advocacy to support their companies' efforts. If we don't do the same, we will lose not only our chance to succeed in these markets but our chance to remain the world's economic leader into the next century.

markets hold the most promise? What is the role of the U.S. government in helping to ensure that we realize that promise?" Although such questions seem rational enough, as far as Washington has been concerned in past years, they have rarely been pursued in the international economic arena, let alone answered. Nevertheless, the Clinton administration broke with past patterns. It put an enormous amount of effort into looking over the immediate horizon and came up with some interesting--and powerful--conclusions.

We found, for example, that the markets in Europe and Japan will be growing much more slowly over the next two decades than a good deal of the rest of the world. Moreover, we discovered that, despite optimism

..... Turkey has been the crossroads of the world since Alexander. In recent years, an economic renaissance made the Istanbul stock market one of the most attractive in the world. Now, Turkey has entered a period of

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Approximate Word count = 2026
Approximate Pages = 8 (250 words per page double spaced)