The Morning Briefing: Emerging markets
"The Morning Briefing" is SmartPlanet's daily roundup of must-reads from the web. This morning we're reading about emerging markets.
1.) The mobile browser dominates in emerging markets. There are seven billion people in this world and only 1.2 billion computers — but close to six billion cellphones. That makes the commercialization ability and growth potential for the mobile Internet massively greater than that of the PC-based Internet.
2.) Emerging markets may support global growth less. Slower growth in many emerging markets could put those countries on a more sustainable growth path but it also means that they won't help support the global economy as much as in recent years, according to the chief economist of the influential Bank for International Settlements (BIS).
3.) Cosmetic firms eye beautiful future in emerging markets. Global cosmetic firms are turning to emerging markets in the hunt for sales, but they face a challenge tailoring their beauty products to suit new customers in India, China and elsewhere.
4.) In a crummy economy, why are stocks soaring? Economic growth is pitiful. Unemployment has topped 8 percent for an exhausting 43 months. The nation is careering toward a so-called fiscal cliff, and maybe a recession.
5.) BlackRock launches "frontier market" fund with global reach. BlackRock has introduced an exchange-traded fund that invests in "frontier markets," or small countries that do not qualify yet as emerging markets.
Image credit: Jonathan Kos-Read