Deloitte Monday Briefing: Emerging Market Growth Lead Narrows

* The Global Financial Crisis has confirmed the standing of emerging or developing market nations as major players in the global economy. The strong performance of these economies since 2007 demonstrates that they can grow independently of the rich world. In the last five years, emerging economies have accounted for about 70% of global growth.

* Now, with growth in the rich world picking up and emerging economies facing headwinds, the growth gap between the two is narrowing.

* Monetary tightening, lower commodity prices, reduced inflows of foreign capital and relatively weak institutions and rules are all weighing on emerging economies.

* The trend this year has been for economists to become less positive about growth in emerging economies and rather more positive about prospects for the rich world.