em-dm... am?

http://www.ft.com/cms/s/0/23fe4b4c-91be-11e0-b4a3-00144feab49a.html#axzz1OilUgBtD

Interesting article in the FT, basically suggesting that by many metrics, EM emerging markets, have progressed to be close to or at the level of the DM, developed markets. More interesting than the history is the prediction that high savings rates in EM's will moderate, creating new demand, and that capital flows of recent years will reverse, ie capital will flow from DM to EM's.

Perhaps though there is another category that one will need to classify economies, and that is AM, ageing markets, such as Japan and parts of Western Europe, that will probably have a very different dynamic to that of developed markets that don't have the same demographic challenges.