| “AI-linked growth, resilient trade and a softer dollar are reshaping global capital flows, putting emerging markets back at the centre of global growth, with stronger fundamentals and investment opportunities than seen in years.” |  |
Emerging markets are re‑establishing themselves as key drivers of global growth, supported by a combination of powerful structural forces. As these economies regain a growth advantage over developed markets, historical patterns suggest capital is likely to follow. This renewed appeal comes at a time when global investors are reassessing long‑standing assumptions about growth leadership, resilience and sources of return.
Three themes stand out. Emerging economies are playing an increasingly central role in the global AI ecosystem, with several countries occupying critical positions along AI supply and production chains. At the same time, they have demonstrated greater resilience than expected amid shifting trade and economic policies worldwide. Finally, a turn away from prolonged US dollar strength is encouraging investors to look beyond the US, creating a more supportive backdrop for emerging markets that have rarely looked as well positioned.
