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Emerging or submerging: a history lesson by Jean-Louis Scandella


In the September edition of IPE, Jean-Louis Scandella, Equity CIO at Ostrum AM, was interviewed on the subject of emerging markets, with which he is very well acquainted.

After recalling the spectacular development of emerging countries like China since the 1980s, Jean-Louis emphasizes the importance and especially the originality of emerging countries’ approach to economic development.

He separates the history of emerging countries over the past 30 years into three periods that equate to the three types of companies created: generation 1 companies, resulting from outdated political models, generation 2 companies up until the 2000s, based on the model of western societies, and finally the current generation 3 model which goes beyond these models and is characterized by a frantic pace of development. These are companies like Alibaba, Tencent or Allpay in Asia, pioneering companies in their context, their eyes resolutely set on the future and in business sectors as diverse as banking, social media and video games. Asia is very strongly represented, along with Africa, which has taken the road to modernity, and Kenya is a good example.

Emerging countries, says Jean-Louis, are building the New World: tomorrow's world.

Read Jean-Louis' interview

On 3 April 2018, Natixis Asset Management became Ostrum Asset Management.