Emerging markets

An emerging market is a country that has some characteristics of a developed market, but does not meet standards to be a developed market. This includes countries that may become developed markets in the future or were in the past. The term "frontier market" is used for developing countries with slower economies than "emerging". The economies of China and India are considered to be the largest. According to The Economist, many people find the term outdated, but no new term has gained traction. Emerging market hedge fund capital reached a record new level in the first quarter of 2011 of $121 billion. The four largest emerging and developing economies by either nominal or PPP-adjusted GDP are the BRIC countries (Brazil, Russia, India and China). The next five largest markets are South Korea, Mexico, Indonesia, Turkey, and Saudi Arabia. Iran is also considered an emerging market.

Terminology

In the 1970s, "less developed countries" (LDCs) was the common term for markets that were less "developed" (by objective or subjective measures) than the developed countries such as the United States, Western Europe, and Japan. These markets were supposed to provide greater potential for profit, but also more risk from various factors. This term was thought by some to be politically incorrect so the emerging market label was created. The term is misleading in that there is no guarantee that a country will move from "less developed" to "more developed"; although that is the general trend in the world, countries can also move from "more developed" to "less developed".

Emerging

Emerging is the title of the only album by the Phil Keaggy Band, released in 1977 on NewSong Records. The album was re-released on CD in 2000 as ReEmerging with a different track listing, including four newly recorded songs by the original band members.

Track listing (1977 release)

All songs written by Phil Keaggy, unless otherwise noted.

Side one

Side two

Track listing (2000 re-release)

All songs written by Phil Keaggy, unless otherwise noted.

Main Street

Main Street is a generic phrase used to denote a primary retail street of a village, town or small city in many parts of the world. It is usually a focal point for shops and retailers in the central business district, and is most often used in reference to retailing and socializing.

The term is commonly used in Ireland, Scotland, the United States, Canada, and less often in Australia and New Zealand. In most of the United Kingdom the common description is High Street. However, the term "Main Street" is sometimes used in the UK, for instance, in the village of Sutton Cheney. In Jamaica the term is Front Street. In some parts of the south west of England the equivalent used is Fore Street.

In some larger cities, there may be several Main Streets, each relating to a specific neighborhood or formerly separate city, rather than the city as a whole. In many larger U.S. cities "Main Street" is a U.S. Highway; "Main Street of America" branding was used to promote U.S. Route 66 in its heyday.

Wall Street

Wall Street is a 0.7-mile-long (1.1 km) street running eight blocks, roughly northwest to southeast, from Broadway to South Street on the East River in the Financial District of Lower Manhattan, New York City. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial sector (even if financial firms are not physically located there), or signifying New York-based financial interests.

Anchored by Wall Street, New York City has been called both the most economically powerful city and the leading financial center of the world, and the city is home to the world's two largest stock exchanges by total market capitalization, the New York Stock Exchange and NASDAQ. Several other major exchanges have or had headquarters in the Wall Street area, including the New York Mercantile Exchange, the New York Board of Trade, and the former American Stock Exchange.

History

Early years

There are varying accounts about how the Dutch-named "de Waal Straat" got its name. A generally accepted version is that the name of the street was derived from an earthen wall on the northern boundary of the New Amsterdam settlement, perhaps to protect against English colonial encroachment or incursions by Native Americans. A conflicting explanation is that Wall Street was named after Walloons— the Dutch name for a Walloon is Waal. Among the first settlers that embarked on the ship "Nieu Nederlandt" in 1624 were 30 Walloon families. The Dutch word "wal" can be translated as "rampart". However, even some English maps show the name as Waal Straat, and not as Wal Straat.

Steve Forbes

Malcolm Stevenson "Steve" Forbes, Jr. (/fɔːrbz/; born July 18, 1947) is an American publishing executive who was twice a candidate for the nomination of the Republican Party for president. He is the editor-in-chief of business magazine Forbes. He was a Republican candidate in the 1996 and 2000 presidential primaries. He is the son of longtime Forbes publisher Malcolm Forbes and the grandson of that publication's founder, B.C. Forbes.

Early life

Forbes was born in Morristown, New Jersey, to Roberta Remsen (née Laidlaw) and Malcolm Forbes. Forbes grew up wealthy in the town of Far Hills, New Jersey.

Education

Forbes attended the prestigious Far Hills Country Day School.

In 1966, he graduated cum laude from Brooks School in North Andover, Massachusetts, and from Princeton University in 1970. While at Princeton, Forbes founded his first magazine, Business Today, with two other students. Business Today is currently the largest student-run magazine in the world. Forbes is a member of Alpha Kappa Psi and Tau Kappa Epsilon. He holds honorary degrees from several universities, including New York Institute of Technology and Lehigh University.