Emerging economies
Emerging economies are developing countries experiencing rapid economic growth, industrialisation, and integration into global markets. They are transitioning from low-income agriculture-dependent economies to middle-income manufacturing and service-based economies.
Real World
China's economy grew at an average of nearly 10% annually for three decades after 1980, transforming from a largely agricultural society into the world's largest manufacturer and second-largest economy by 2010.
Exam Focus
When evaluating emerging economies, always contrast short-run growth with long-run sustainable development — examiners reward this distinction.
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