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Banking Latest News: Emerging Markets Mania was a Costly Mistake: Goldman Executive

wochit business
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July 04, 2013 AT 11:34 AM
Investors who wrongly called time on U.S. economic supremacy during the financial crisis are set to pay a hefty price for betting too much on the developing world. The U.S. investment bank helped inspire a twenty-fold surge in financial investment in China, India, Russia and Brazil over the past decade, its chief economist popularizing the term BRICs in a 2001 research paper.