Yes, there are plenty of world-class firms in emerging markets, and the expansion of the middle-class is unmistakable. But only a tiny share of these economies’ labor is employed in productive enterprises, while informal, unproductive firms absorb the rest.
的确，新兴市场涌现出许多世界级公司，而且中产阶级的扩张也明白无误。但生产企业仅雇佣了很少一部分劳动力，而非正式的非生产企业则吸纳了大部分工人。