Abstract
Van Agtmael (2007, pp. 10–11) predicts that ‘in about 25 years the combined gross national product (GNP) of emergent markets will overtake that of currently mature economies causing a major shift in the centre of gravity of the global economy away from the developed to emerging economies’. He argues (op. cit., p. 12) that, by the middle of this century, emerging markets in aggregate will be nearly twice as large as the current developed economies. Emerging markets account for more than 50 per cent of global economic output, and emerging market multinational companies (MNCs) like Tata, Infosys and Wipro of India, Exarro Resources, Naspers, SABMiller, Sasol and Sappi from South Africa, Haier in China, Petrobas in Brazil, and Hyundai and Samsung in Korea, are now global players (Horwitz and Mellahi, 2009).
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Horwitz, F.M. (2013). Human Resource Management in Southern African Multinational Firms: Considering an Afro-Asian Nexus. In: Newenham-Kahindi, A., Kamoche, K.N., Chizema, A., Mellahi, K. (eds) Effective People Management in Africa. Palgrave Macmillan, London. https://doi.org/10.1057/9781137337177_6
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