A sluggish global recovery and the debt crisis in the eurozone are taking their toll on emerging markets. Standard & Poor's warned in June that India may be the first BRIC nation to lose investment grade status, as industrial output dwindles and growth slows. Faltering growth in India, China, and the United States has also pushed down the prices for commodities - bad news for Brazil, for instance, which depends on them. So after weathering the storm of the 2008 crisis, many emerging markets are facing uncertain futures.
But while the furious growth which linked the BRIC nations and others has become less of a common currency, other factors remain that unite them. The rise of middle classes and the spread of wealth, for instance. One startling piece of evidence might be China's rapidly increasing influence in the rarefied world of art collecting. China's share of the €46 billion global market for art now stands at about 23 percent. In our cover story, we look at art investment in high-growth markets, including a profile of Dubai's go-to guy for contemporary collectors, Ramin Salsali.
Also in this issue of "High Growth Markets" we visit the dynamic joint-venture scene in high-growth markets. The last two years have seen a real surge in tie-ups across all sectors - an important story, as tight credit forces companies to look for new ways of entering emerging markets.
Another feature looks at the risks involved in doing business in countries in transition, especially Egypt and Myanmar. The Bahna brothers, of Cairo-based Bahna Engineering, tell us how they defended their business interests during last year's Arab Spring.