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Introduction

In: Brand Breakout

Author

Listed:
  • Nirmalya Kumar
  • Jan-Benedict E. M. Steenkamp

Abstract

In the last two decades, the world has witnessed the most dramatic shift in its economic center of gravity since 1500 AD. About 500 years ago, the center of economic activity started to shift decisively to the West — first Western Europe, and then the North Atlantic, which has dominated since. What are now called emerging markets began the challenge to this status quo from December 1978, when the Chinese, under the leadership of Deng Xiaoping, started a program of economic reforms (改革开放). It took some time before the other major markets joined in. Between 1989 and 1994, India initiated its economic reform, Brazil launched its Plano Real, South Africa replaced its internationally and economically isolated apartheid rule with democratic government, Mexico signed the North America Free Trade Agreement, and the Soviet Union collapsed. Vast countries and their populations opened to the global economy.

Suggested Citation

  • Nirmalya Kumar & Jan-Benedict E. M. Steenkamp, 2013. "Introduction," Palgrave Macmillan Books, in: Brand Breakout, pages 1-20, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-137-27662-9_1
    DOI: 10.1057/9781137276629_1
    as

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