{"id":249818,"date":"2026-07-13T11:18:07","date_gmt":"2026-07-13T15:18:07","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=249818"},"modified":"2026-07-13T11:29:03","modified_gmt":"2026-07-13T15:29:03","slug":"offside-or-opportunity-scouting-emerging-markets-next-stars","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/podcasts\/ibkr-podcasts\/offside-or-opportunity-scouting-emerging-markets-next-stars\/","title":{"rendered":"Offside or Opportunity? Scouting Emerging Markets\u2019 Next Stars"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Are emerging markets entering a new era of opportunity? In this IBKR Podcast episode , Malcolm Dorson of Global X breaks down the countries, sectors, and investment themes that could become the next stars of the emerging markets universe, from India and Latin America to opportunities beyond China.<\/p>\n\n\n\n<iframe title=\"Offside or Opportunity? Scouting Emerging Markets\u2019 Next Stars\" allowtransparency=\"true\" height=\"150\" width=\"100%\" style=\"border: none; min-width: min(100%, 430px);height:150px;\" scrolling=\"no\" data-name=\"pb-iframe-player\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=f73t2-1b0ebaa-pb&#038;from=pb6admin&#038;share=1&#038;download=1&#038;rtl=0&#038;fonts=Arial&#038;skin=1b1b1b&#038;font-color=ffffff&#038;logo_link=episode_page&#038;btn-skin=c73a3a\" loading=\"lazy\"><\/iframe>\n\n\n\n<h2 id=\"h-summary-ibkr-podcasts-ep-405\" class=\"wp-block-heading\">Summary \u2013 IBKR Podcasts Ep. 405<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><em>The following is a summary of a live audio recording and may contain errors in spelling or grammar. Although IBKR has edited for clarity no material changes have been made<\/em>.<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Welcome to this week&#8217;s podcast.\u00a0I&#8217;m\u00a0Andrew Wilkinson at Interactive Brokers. Joining me today is Malcolm Dorson. He&#8217;s Senior Vice President and Head of Active Investment Team and a senior emerging markets portfolio manager at Global X in New York. Welcome, Malcolm.\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Thank you, Andrew.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-0\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Well, we&#8217;re in the middle of the World Cup, and what we&#8217;re learning is that you don&#8217;t have to be a big team, a major nation, to have success, and that&#8217;s kind of a nice little opener into the theme of emerging markets. Would you agree?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-0\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Absolutely. I think\u00a0it&#8217;s\u00a0something that sometimes is lost in the index. You know, historically, China\u00a0representing\u00a0roughly 30%\u00a0of the index, and other countries these days where you find a lot of concentration\u00a0kind of makes\u00a0people overlook some of the less covered, smaller jewels within the asset class.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-1\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Now,\u00a0you&#8217;ve\u00a0just released recently, this week, your Global X Emerging Markets Outlook, and\u00a0it&#8217;s\u00a0quite a positive read. EM, emerging markets, has been out of favor for quite a long time, and I think it&#8217;s fair to say that many investors would be surprised to see the strong recent performance of emerging markets versus the S- the S&amp;P 500 over the past two years. What, in your opinion, has changed?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-1\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s\u00a0a great question, Andrew, and\u00a0you&#8217;re\u00a0spot on. I think a lot of people, you know, despite emerging markets doing quite well over the past two years, the S&amp;P continues to chug along, and that continues to drive this trend of strong positioning in the US, in the S&amp;P, with massive underweights in international and emerging markets.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0what&#8217;s\u00a0been driving the\u00a0strong performance? You know, EM\u00a0outperforming\u00a0the S&amp;P by 14 percentage points this year, over 20% over the past 12 months, over 26% over the past two years.\u00a0What&#8217;s\u00a0been\u00a0driving it\u00a0is a combination of positioning meeting uncertainty. So, in terms of positioning coming into this year, most advisors that we spoke with had a\u00a0roughly 2\u00a0to 5% exposure to emerging markets, compared to 12 and a half or 12.7% exposure as translated through the MSCI All Country World Index.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0you take that lack of positioning, or massive underweight in emerging markets, and combine it with the uncertainty people were feeling in geopolitics, in terms of tariffs, in terms of domestic politics, US fiscal policy, US monetary policy, the direction of the dollar. I can really go on. And people\u00a0weren&#8217;t\u00a0necessarily saying, &#8220;I have to go overweight emerging markets,&#8221; but they were certainly saying, &#8220;I need to get closer to equal weight.&#8221;\u00a0And in order to do that, most advisors had to double their exposure, in some cases triple their exposure, which is really meaningful for flows.\u00a0And if you kind of take a step back as well and start looking at it from a more fundamental perspective, people started doing a bit of homework and realized that you have a much healthier backdrop for emerging markets than you&#8217;ve seen over the past decade.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So&nbsp;you&#8217;ve&nbsp;seen improved fiscal and current account balances across the board,&nbsp;more and more&nbsp;autonomous central banks making prudent decisions to control inflation. And&nbsp;it&#8217;s&nbsp;also not just a China story anymore.&nbsp;It&#8217;s&nbsp;a technology story in North Asia.&nbsp;It&#8217;s&nbsp;political reform in Latin America, along with a massive commodities base, which is incrementally more important.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It&#8217;s&nbsp;economic pivots&nbsp;in the Middle East.&nbsp;It&#8217;s&nbsp;value in Eastern Europe and a whole lot more. So I think people take that and combine it with a 42% discount to the S&amp;P, a potentially weaker US dollar, and people are saying, &#8220;I just need to cover that underweight,&#8221; which is leading to more flows.&nbsp;<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-2\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You, that&#8217;s a\u00a0really\u00a0kind of, not\u00a0simplistic,\u00a0you boil it down really nicely for the audience into positioning, valuations, dollar liquidity. Does that then just leave the decision to just go buy the index, go and buy the emerging markets index?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-2\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0I wish I could say yes,\u00a0&#8217;cause\u00a0it&#8217;d\u00a0be a whole lot easier, but the index has some issues with it. You know, I mentioned historically, or in the past, when China represented 30, 35%, and that was kind of on paper, but China was even more of a story because China was driving Latin America and other parts of the world.\u00a0So that,\u00a0that kind of gave you that concentration risk. Today you still have concentration risk, but\u00a0it&#8217;s\u00a0in other parts.\u00a0So\u00a0China still\u00a0represents\u00a0roughly 20%\u00a0of the index, but broadly,\u00a0it&#8217;s- This is an Asia index now. This is 80% plus Asia.\u00a0It&#8217;s\u00a0over 30% in just three names, which are concentrated in semiconductors if you look at Taiwan Semiconductor, SK Hynix, and Samsung.\u00a0And\u00a0it&#8217;s\u00a0getting\u00a0more and more\u00a0correlated to the tech trade that most US investors already hold. So,\u00a0kind of going\u00a0back to the beginning of our conversation, EM still definitely offers diversification, but\u00a0I think you\u00a0need to do so a little, in a\u00a0bit of a\u00a0more sophisticated manner, a bit more actively to find it.\u00a0So that means binding, finding individual countries or regional funds, or\u00a0i- aligning with an active manager can kind of do that for you and ensure\u00a0you&#8217;re\u00a0approaching the asset class in a sort of\u00a0risk aware\u00a0and more balanced manner.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-3\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In light of\u00a0this being\u00a0peak World Cup season, you frame your outlook in the same way that a soccer coach might draft his team. But the first thing\u00a0I&#8217;m\u00a0noticing is that Korea and Taiwan\u00a0didn&#8217;t\u00a0make the team. What happened?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-3\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yeah. I am still, you know, keeping in athletic and sports terms still fans of Korea and Taiwan, but these countries have knocked it out of the park over the past couple of years. I mean, Korea&#8217;s up 215%, Taiwan&#8217;s up 106% over the past 12 months alone.\u00a0So\u00a0the issue really is concentration, not quality.\u00a0And the point is that when\u00a0you&#8217;re\u00a0writing an outlook, adding Korea and Taiwan to this quote-unquote roster, I\u00a0don&#8217;t\u00a0think it gives the reader or the audience or any really differentiated value.\u00a0I think most people\u00a0already own that trade by default through other AI\u00a0ecosystem\u00a0or semiconductor trades.\u00a0And from an emerging\u00a0markets\u00a0perspective, we want to let you know what most people\u00a0aren&#8217;t\u00a0thinking about and show value in other opportunities.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-4\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0beyond that, walk us through how you think about positions and tell us about three or four of your star players.\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-4\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Sure.\u00a0So\u00a0we divided this up, you know, in World Cup fashion by strikers, midfielders, defense, and goaltender.\u00a0So\u00a0in terms of strikers, we are looking for countries or opportunities within EM that offer high upside, near-term catalyst, and momentum. And then in terms of midfielders, an opportunity that could be more\u00a0versatile\u00a0core long-term allocations that have both qualities in terms of structural growth, but also defensive attributes as well.\u00a0And then moving over to defense, here\u00a0we&#8217;re\u00a0looking for compounders, margin of safety from a valuation perspective, structural tailwinds, and income. And then in terms of goalie, we are looking for, you know, nothing as a backstop, but something as close as we could get to it. You know, low volatility, income, downside\u00a0protection.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0across the board, 11 players, 11\u00a0unique opportunities. We hope that\u00a0it&#8217;s\u00a0an interesting read that can add value to the audience. But in terms of singling out a few,\u00a0I guess I\u00a0think I would start out with India because\u00a0I think India\u00a0is\u00a0gonna\u00a0be your comeback player of the tournament.\u00a0Past couple of years, India&#8217;s massively underperformed emerging markets. First because of 2025, it had main headlines in terms of tariffs with the current US administration threatening a 50% tariff against India. Ultimately got to a deal where the effective rate was\u00a0gonna\u00a0be 17%, much better than other Asian peers that had negotiated other rates in terms of an effective tariff rate.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But just as that happened, that conversation got put aside as the Supreme Court intervened, and then focus moved towards geopolitical tensions in the Middle East, which of course spiked energy prices through the roof. And India imports over 92% of its oil needs. So that was&nbsp;kind of the&nbsp;second headwind for India, which led to a second year of challenges.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the meantime, India&#8217;s growing GDP over 7% per year.\u00a0It&#8217;s\u00a0being led by Prime Minister Modi and the BJP, which have been massively market friendly in terms of market reforms. And we still see this as the best demographic dividend story in emerging markets, if\u00a0not\u00a0the world.\u00a0So\u00a0we think this is\u00a0a really interesting\u00a0opportunity to step in at a valuation\u00a0that&#8217;s\u00a0trading at\u00a0roughly one\u00a0standard deviation below its historical average.\u00a0Rare to ever find India on the cheap. And now if energy prices continue to fall, that could be a major catalyst for India to rebound.\u00a0So\u00a0we&#8217;re\u00a0excited about that opportunity. So\u00a0that&#8217;s\u00a0a midfielder. I guess the other midfielder we would mention is emerging markets ex China.\u00a0I think this\u00a0is your\u00a0center\u00a0midfielder, your number 10. This is where you get the Latin America trade, the structural demographic dividend story in Southeast Asia, the tech trade in North Asia and Korea and Taiwan. And if you do so actively, you can kind of be in the right place at the right time.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So&nbsp;we love that opportunity. And then the exciting part, moving into offense.&nbsp;So&nbsp;we&nbsp;identified&nbsp;a few strikers here, starting out with Argentina. Argentina&nbsp;isn&#8217;t&nbsp;even classified emerging markets. This is a standalone market that we believe will be moved back into emerging markets index by MSCI within a couple of years, which could lead&nbsp;into&nbsp;billions and billions of dollars of inflows.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But what&#8217;s\u00a0gonna\u00a0get us there,\u00a0it&#8217;s\u00a0political change that started two years ago when President Milei was elected after decades and decades of socialist rules leading to over five sovereign defaults during\u00a0roughly 50\u00a0years.\u00a0So\u00a0in Milei&#8217;s first two years, he delivered the first fiscal surplus for the country in almost 15 years.\u00a0Monthly inflation dropped from\u00a0roughly over\u00a030% to under 3% a month, and GDP growth swung from negative 4% to positive 3% or 4%.\u00a0So\u00a0you saw some really significant\u00a0change. He did very well in a decisive midterm win in October of last\u00a0year in 2025.\u00a0So\u00a0we think the momentum is with\u00a0him\u00a0and these reforms should continue.\u00a0Banks are very well capitalized.\u00a0There&#8217;s\u00a0an enormous credit runway. Credit penetration is only 13% of GDP, and we think this is the right administration to unlock potential value in the commodity trade in Argentina as well. The other striker that we mentioned is Colombia. Colombia just had an election on June 21st, so\u00a0we&#8217;re\u00a0fresh out of it, and we see a lot of parallels to the Argentina trade here.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The political pendulum, as we see in a lot of Latin America, swinging from the far left to the\u00a0more center\u00a0right. The current or the president-elect, his plan is to reverse the oil exploration moratorium, restore investor-friendly arbitration rules, and end the prior government&#8217;s, quote-unquote, &#8220;Total Peace&#8221; policy.\u00a0He&#8217;s\u00a0already started with his kind of surrounding himself with market-friendly, prudent people. His vice president pick is a former finance minister, and this market trades just over eight times earnings with an almost 19% ROE, 6% dividend yield. We think\u00a0it&#8217;s\u00a0cheap. We think it has a strong political reform story, and\u00a0it&#8217;s\u00a0also interesting, could be seen as a Venezuela proxy.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Colombia shares a 1,400-mile border with Venezuela. It used to be its largest trading partner. And as you start seeing any sort of economic reforms out of Venezuela, Colombia should be the main beneficiary.&nbsp;So&nbsp;I know I&#8217;m saying a lot here, but we think that these four players stand out and emerging markets are set up to do well, not just this year in terms of thinking of it as a tournament, but we think this team could be a dynasty.&nbsp;<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-5\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Who&#8217;s\u00a0the Cape Verde?<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-5\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Interesting. Who could stand out? Well, I will keep it to a Portuguese-speaking country. I think\u00a0it&#8217;s\u00a0gonna\u00a0be Brazil. You know, Brazil is a smaller country. Excuse me, not as small as\u00a0Cape Verde, of course.\u00a0It&#8217;s\u00a0a larger country. But\u00a0I think a lot of people\u00a0are writing Brazil off because of the political story and the political headlines between Lula and Bolsonaro.\u00a0But the main story is that Brazil has positive 10% real rates. Inflation is below 5%. Its overnight key rate is around 14% now.\u00a0So\u00a0the central bank is in a strong position to continue its rate-cutting cycle that\u00a0has just begun\u00a0a couple of months ago. And looking at the past seven rate-cut completed cycles in Brazil, when that market rallied during a rate-cutting cycle, MSCI Brazil rallied\u00a0roughly 97%\u00a0cumulative on average, and\u00a0that&#8217;s\u00a0against a 15% drawdown when that market fell.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So\u00a0we think the risk-reward profile looks really attractive, and we think the election is a bit of a coin toss at the moment. The valuations look\u00a0really attractive, and, you know, from an allocator&#8217;s perspective, we think Brazil can also\u00a0represent\u00a0the other end of the barbell in terms of the AI trade.\u00a0People are looking for balance, and\u00a0they&#8217;re\u00a0probably looking\u00a0for value,\u00a0they&#8217;re\u00a0looking for liquidity,\u00a0they&#8217;re\u00a0looking for commodity exposure, financials exposure, and Brazil gives you all of that.\u00a0So\u00a0I think\u00a0it&#8217;s\u00a0an interesting place to do some diligence.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-6\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You mentioned\u00a0valuation\u00a0there.\u00a0What about here in the US, the market again at all-time highs?\u00a0You comfortable with that?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-6\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Well, as long as earnings keep chugging along, and it seems that that is going to happen.\u00a0I mean, you know, the\u00a0CapEx\u00a0that we see from these\u00a0hyperscalers\u00a0continue to\u00a0spread out\u00a0through players within the AI ecosystem. We see commodity companies benefiting, we see real estate companies benefiting, and we think that the trade is going to\u00a0spread out\u00a0more into\u00a0mid caps\u00a0and small caps as well.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So&nbsp;that&#8217;s&nbsp;healthy if&nbsp;it&#8217;s&nbsp;not just stuck within the concentrated list of names that have been performing well recently.&nbsp;So&nbsp;any sort of corrections we see as healthy. But, you know, that sort of falls in line with the story that people are looking for diversification, whether it means avoiding just U.S. large caps and moving into small caps and&nbsp;mid caps, or if it means moving more internationally and getting some benefits if we see a weaker dollar environment because of a larger U.S. fiscal deficit.&nbsp;<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-7\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Brilliant. Malcolm, you live in a fantastic world that I\u00a0haven&#8217;t\u00a0looked at for quite some time.\u00a0So\u00a0thank you for taking the time to explain that to us.\u00a0And I do hope you&#8217;ll come back and talk about some individual countries more at a later date.\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-7\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">We&#8217;d\u00a0love to. Thank you so much, Andrew.\u00a0Appreciate\u00a0it.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-8\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Thank you. Malcolm Dorson is a senior emerging markets portfolio manager at Global X.\u00a0He&#8217;s\u00a0also SVP and head of the active investment team. And\u00a0we&#8217;ll\u00a0make it&#8230; Before you go, Malcolm, tell us where we can download the\u2014well,\u00a0I&#8217;ll\u00a0tell you what\u00a0we&#8217;re\u00a0gonna\u00a0do.\u00a0We&#8217;re\u00a0gonna\u00a0put a link to your latest emerging markets paper in the show notes. But where can they find it outside of the podcast?\u00a0<\/p>\n\n\n\n<h3 id=\"h-malcolm-dorson-8\" class=\"wp-block-heading\">Malcolm Dorson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Perfect.\u00a0Please take a look at our material at globalxetfs.com.\u00a0<\/p>\n\n\n\n<h3 id=\"h-andrew-wilkinson-9\" class=\"wp-block-heading\">Andrew Wilkinson<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Brilliant. Lovely. Fantastic\u00a0guest. Thank you very\u00a0much\u00a0indeed. And to the audience, thanks for taking\u00a0time\u00a0to listen to today&#8217;s episode.\u00a0And if you like what you hear, don&#8217;t forget, subscribe wherever you download your podcasts from.\u00a0Bye for now.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Are emerging markets entering a new era of opportunity? In this IBKR Podcast episode , Malcolm Dorson of Global X breaks down the countries, sectors, and investment themes that could become the next stars of the emerging markets universe, from India and Latin America to opportunities beyond China.<\/p>\n","protected":false},"author":111,"featured_media":249822,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[10842,13857],"tags":[3909,21895,21897,19379,587,17195,449,21894,8942,20520,21899,12657,20405,18499,21896,18671,21893,3598,6465,21898],"contributors-categories":[13641,13576],"class_list":["post-249818","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ibkr-podcasts","category-podcasts","tag-active-investing","tag-ai-ecosystem","tag-china-alternatives","tag-commodity-markets","tag-economic-growth","tag-emerging-market-stocks","tag-emerging-markets","tag-equity-investing","tag-foreign-markets","tag-geopolitical-investing","tag-global-etfs","tag-global-investing","tag-india-economy","tag-international-markets","tag-investing-opportunities","tag-investor-strategy","tag-latin-america-markets","tag-market-outlook","tag-portfolio-diversification","tag-us-dollar-trends","contributors-categories-global-x-etfs","contributors-categories-interactive-brokers"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v28.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Offside or Opportunity? Scouting Emerging Markets\u2019 Next Stars<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/249818\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Offside or Opportunity? Scouting Emerging Markets\u2019 Next Stars | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Are emerging markets entering a new era of opportunity? 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