Borderless Investor

Today’s “Ahead of the Tape” column in WSJ (sub req’d) noted the role of emerging markets as an engine for global economic growth. This time it’s emerging markets pulling the US along, rather than the other way around, as it has been in the past.

The column cites IMF forecasts call for about 2.5% economic growth in the developed world vs. 8.1% in emerging markets.

Also worth noting:

“China will be a bigger contributor to global growth than the U.S. according to the IMF. Goldman Sachs calculates that the so-called BRICs - Brazil, Russia, India and China - are contributing far more to global consumer spending than the U.S. so far this year.”

Of course, this doesn’t make us immune from recession, but it sure makes it a heck of a lot easier to absorb the bad news flow from the housing market, Wall Street’s credit crunch and so forth.