The Berlin Wall fell in November 1989. This was a world-shaking event that triggered the disintegration of the Soviet Union, transforming our view of competition between nations. It also altered how we think about innovation-based competition in emerging markets. Now, 25 years later, we can take stock of these emerging markets.
The label "emerging markets" was coined by Antoine van Agtmael in the early 1980s. It remains alluring for investors, innovators, and governments. Yet it remains difficult to characterize them. Our view of emerging markets has changed over time. Precise understanding might help innovators and business managers compete more effectively. This column explores these claims.