Global Recovery ‘Well in Place,’ Mark Mobius Says
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The global economic recovery is “well in place” and may accelerate as growth in developing nations counters a slowing pickup in Japan and the U.S., according to Templeton Asset Management Ltd.’s Mark Mobius.
The so-called BRIC markets of Brazil, Russia, India and China, as well as Turkey and South Africa, will drive the recovery, said Mobius, who predicted the bull-market rally in emerging markets in March 2009. The MSCI index of 21 developing nations has doubled since it bottomed out in March 2, 2009.