Think of major players in the world economy and the US, Europe and Japan are likely to spring to mind. It may therefore be a surprise to learn that the collective economies of some of the world’s lesser known, but emerging, countries are now responsible for over half of the world economy when measured by total output. And that figure is rising. As a group, these countries are growing at a rate of 6% or more per annum. East Asia’s economy now constitutes 8% and Latin America, Southern Africa and the Middle East between 5% and 7%. In actual fact, compared to the US, Europe, and Japan, these newcomers to the scene are growing significantly faster and their grouped contribution rises every year.