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The real emerging market

 

It hasn’t been easy to find something good in the global economy. Growth markets have become scarce. But in the last few months, economists, consultants, and other business types have begun to track the rise of a new emerging market, one that may end up being the largest and most powerful of all: women. According to a new study by the Boston Consulting Group, women are now ready to drive the post-recession world economy, thanks to an estimated $ 5 trillion in new female-earned income that will be coming online over the next five years. Worldwide, total income for men ($ 23.4 trillion) is still more than double the income for women ($ 10.5 trillion), but the difference is expected to reduce significantly: the vast majority of the new income growth over the next few years will go to women because a narrowing salary gap and rising female employment are supposed to happen. Actually, women will be the ones driving the shopping and, economists hope, the recovery.

 

The growth represents the biggest emerging market in the history of the planet – more than twice the size of the two hottest developing markets, India and China, combined.

 

Rana Foroohar and Susan H. Greenberg.

Newsweek/September/2009 (adapted).

 

The words “difference”, “significantly” and “developing” are, respectively, classified as



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