…of select countries.
Below is another deck of wonderful and telling charts from Bespoke Invest
Basically, the above charts say that the % share of developed economy equity markets has been declining overtime as Asian and emerging markets have been increasing.
What we are seeing is simply a deepening of the convergence trend and a rebalancing of roles which previously had been dominated by the former.
Of course there are many factors driving this, one of the principal factor would be globalization. But the point is: market dynamics, which essentially is about acting humans, has been about constant changes.
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