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When I talk with you folks on such topics as the South China Sea dispute, the big upside I see for Alibaba Group Holdings Ltd. (NYSE: BABA), the outlook for Vietnam, or any number of other seemingly unrelated wealth-influencing topics, there's one bit of context that I always share.
And here it is...
Back in 1985 - when the global economy was worth $19 trillion in "real" terms - North America, Western Europe and Japan accounted for two-thirds of all global growth.
Back then, China and the rest of "Emerging Asia" accounted for a mere 18%.
And the global economy was growing much faster - at a 4% pace.
Fast-forward three decades, and this scenario has totally reversed.
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