Third World markets - opportunity or threat?

For generations, the developing world has been seen as a growth opportunity for the West. Improved fortunes in third world countries traditionally had our salesmen skidding on and off aircraft to meet demand for western goodies brought to the attention of new world markets by incessant marketing - ironically, through the medium of one of the first purchases made by the family of growing economic fortune - the television. Our next big sale would be a car to replace the bicycle or moped and engineering know how to develop roads and other infrastructure. Well, all that may be changing - the sophisticated west, working to sophisticated social rules around anti-discrimination and fair pay, environmental responsibility and increasingly hampered by red tape; now faces emerging markets with no intention of looking to the west for their technology and transport needs. The new markets are increasingly becoming competition rather than opportunity. Competition for materials, fuel and ultimately market share - effectively reducing the opportunity not only in the world but even in our home markets. Traditionally, the $Dollar and £Sterling have been the World's currencies but with the Greek debarcle and the cold reality that the shape of the mighty Europen union or at least it's common currency may be under threat - how long before the Yen is the international currency of choice? How long before the seat of power shifts - what price those economies based on Banking and playing financial markets? Britain will resolve this financial crisis by a combination of cost cutting and increased revenue - just like any other business. What if, however, the public mood won't support aggressive cost out initiatives and worse - what if we have left it too late to change from being a nation of shopkeepers? What if we cannot find a product portfolio which gets the attention of the world markets in light of the newly formed competition, with it's in-built cost advantages, strong and emerging home markets and better balance sheet?

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Third World markets - opportunity or threat?
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