(no subject)

[birdwatcher]

For most investors, developing nations presented the image of starving children, dilapidated infrastructure and natural disasters. As part of its mission to stimulate Western intereset, the World Bank Group did its part by inventing the term emerging market as a positive-sounding synonym for "Third World country."

Jeffrey C. Hooke, Emerging Markets: A Practical Guide for Corporations, Lenders, and Investors, John Wiley & Sons, Inc., 2001.