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HindustanTimes Mon,28 Jul 2014

Economies of emerging mkts better rated in tough times

HT Correspondent, Hindustan Times  New Delhi, May 24, 2013
First Published: 00:02 IST(24/5/2013) | Last Updated: 00:04 IST(24/5/2013)

Citizens of emerging markets are more pleased with the state of their countries’ economies than  people living in developed countries, a survey of 37,500 people across 39 nations by American think tank Pew Research Center has revealed.

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Even as the global slowdown led to widespread joblessness and inequality, a majority of people in advanced as well as developing economies said their personal finances were in better shape than their national economies, the survey,conducted between March 2 and May 1, 2013, said.

Citizens of emerging markets were more optimistic about the coming year and 48%expected the condition of their national economies to improve in the next 12 months.

In contrast, only 25% people in the advanced countries felt their economies would improve while 32% thought things would get worse in the coming year.

Attitudes in the emerging economies changed very little or even improved between 2007 and 2013, the study highlighted.

A majority of respondents in most countries said the gap between the rich and the poor had increased over the past five years. The level of anxiety at this development was especially in developing economies.

The study showed 53% in emerging markets felt their national economy was doing well, compared to 33% in developing countries and 24% in advanced economies. According to the study, attitudes are particularly grim in European countries like France, Spain, Italy and Greece while people in emerging markets such as China and Malaysia felt their economies were doing well.

80% people interviewed in China and 85% in Malaysia said that they were happy with their economies.


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