Most people steeped in the development field see the term developing countries as negative and passé; we call the up and coming global presence of countries like China, Brazil and Indonesia “emerging economies.” This term is not about being PC, it’s about accuracy and according to the Economist (subscription), these countries have really been living up to that title of late.

The magazine reports on the record growth and mainstream investment flowing into countries once unfairly stereotyped as having backward economies with poor management. Take the example of India, which has recently gotten a significant amount of attention over the vast sums of money being moved into the country.