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Abstract Focuses on the United States governments policy on the Big Emerging Markets BEM which include the Chinese Economic Area South Korea Indonesia India South Africa Poland Turkey Mexico Brazil and Argentina BEMs investment on infrastructure projects BEMs share of global gross domestic product Projected increases in world imports Lessons learned from the BEM strategy THE BIG EMERGING MARKETS During his tenure as Under Secretary of Commerce the author was one of the architects of the Clinton administrations Big Emerging Markets policy under Secretary of Commerce Ron Brown He is now dean of the Yale School of Management The Clinton policy emerged out of a growing conviction that some ten markets will account for the overwhelming growth potential in world imports not to mention commensurate growth in economic and political influence around the world These markets include in Asian--the Chinese Economic Area China Hong Kong and Taiwan South Korea Indonesia and India in Africa--South Africa in Central Europe--Poland and Turkey and in Latin America MexicoBrazil and Argentina The administration concluded that because many of these countries still have important state sectors and because virtually all are focusing heavily on infrastructure projects that demand the involvement of local governments US companies need the US government at their side to win a fair hearing What is more because of the intensity of foreign competition and the capital demands on these countries international competitors will be publicprivate partnerships in which foreign governments provide concessionary financing and aggressive advocacy to support their companies efforts During the first year of the Clinton administration a good deal of analysis was conducted to answer the questions If we look toward the next century where will we find the engines of American growth What markets hold the most promise What is the role
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