One of the megatrends affecting emerging markets (EMs) is rapid urbanisation. This is often used to justify expectations of economic growth. As BMI mentioned in a special report, ‘Mega-Urban Regions: Investment Opportunities And Risks’, published in Business Monitor Online in June 2008, urbanisation typically has the following implications for economic growth: Structural economic changes (typically… [Read more]
For some years now, social scientists and some economic historians have spoken about how cities are displacing nation-states as the most important actors on the world stage. The latest edition of Foreign Policy magazine carries an article along these lines, with the tag ‘The age of nations is over. The new urban age has begun’…. [Read more]
I visited Mumbai in April and thought that I’d share some observations with you. On my first morning, it was 35 degrees centigrade, and with the rainy season approaching, the air was thick and felt ready to burst. A smoggy haze hung over the city, suffocating me as I sat in endless traffic jams or… [Read more]