A Quote by Dilip Shanghvi
Analysts estimate that emerging markets are expected to drive 90 percent of the world's pharmaceutical market growth, and differentiated products will be important to this growth.
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In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.
I've long loved emerging markets airlines because they usually sell at bargain prices. The troubled history of developed market airlines unfairly taints these stocks. In the emerging world, they're growth stocks.
When I think back to 2005, the fast growth markets - what we call the fast growth markets - were probably ten percent of our business. They are now 31 percent.
When you look at the growth of the human economy and its expected growth in the twenty-first century, I expect health will be the most important market of all. Especially as we move from a concept of health which focuses on healing the sick to a concept of upgrading the healthy.
I'm not expecting a big sell-off but I do think that if we don't have a move toward economic growth and policies that will promote economic growth and get us out of this 2 percent world - we really need to see 4 percent, 5 percent - to see jobs created, and if we don't see that longer-term, yeah the market will sell-off...[but] I do think things are getting better. It's just been very slow.
[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.
Looking beyond the emerging markets, it is important not to lose sight of the growth opportunities that exist in the developed regions.
As I spent tons of time with customers, not just in the United States, but in emerging markets, in Europe, in Latin America, top of mind for everybody is how do they drive growth for their business going forward.
My view is that the U.S. market will eventually join the emerging markets on the downside because if you take a bearish view about emerging economies, you cannot be too optimistic about the U.S. because for many U.S. corporations, 50 percent or more of their profits come from emerging economies.
The growth of the American food industry will always bump up against this troublesome biological fact: Try as we might, each of us can only eat about fifteen hundred pounds of food a year. Unlike many other products - CDs, say, or shoes - there's a natural limit to how much food we each can consume without exploding. What this means for the food industry is that its natural rate of growth is somewhere around 1 percent per year - 1 percent being the annual growth rate of American population. The problem is that [the industry] won't tolerate such an anemic rate of growth.
Growth, growth, growth -- that's all we've known . . . World automobile production is doubling every 10 years; human population growth is like nothing that has happened in all of geologic history. The world will only tolerate so many doublings of anything -- whether it's power plants or grasshoppers.
I start with peoples growth, my own growth included. I dont start with the companys strategy or products. I start with peoples growth because I believe that if the people who are running and participating in a company grow, then the companys growth will in many respects take care of itself.
The typical big Japanese company has somewhere between a third and 40 percent of its revenues coming from developing countries, and about a third of Japan's exports are also to the emerging countries, so in a strange way, Japan, which has very little internal growth, its big companies are a good way to play the emerging markets.
Of all the things that can have an effect on your future, I believe personal growth is the greatest. We can talk about sales growth, profit growth, asset growth, but all of this probably will not happen without personal growth.
I start with people's growth, my own growth included. I don't start with the company's strategy or products. I start with people's growth because I believe that if the people who are running and participating in a company grow, then the company's growth will in many respects take care of itself.
The massive debt we have racked up to finance our wasteful government is pulling down growth today. Gross debt over 90 percent of GDP weakens growth now. Not tomorrow - now.
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