Westernisation and increase in spending accelerate growth

Managers are positive on emerg-ing markets and are favouring domestic stocks that will benefit from higher consumer spending as the areas continue to develop. Aberdeen, Focus Capital and Atlantis believe the sector is a domestic growth story, as econ-omies become more Western-ised and industrialised consum-ers have more money to spend. One theme for Mark Gordon-James, investment manager of the Aberdeen Global Emerging Markets fund, is retailers. He says: "In the emerging mar-kets real wage growth is improv-ing, which is trickling down to lower income earners. Consum-ers are spending mon...