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<p><strong>As with any investment, your capital is at risk.</strong></p>
<p><br><strong>Qian Zhang</strong>: The modern global economy is deeply interconnected. A significant part of what powers today's global growth flows through emerging markets, whether that's advanced manufacturing, critical components, engineering talent, logistic networks, and raw materials. </p>
<p>The reality is that developed markets lean on emerging markets, more than many realise. Take artificial intelligence. The hyperscalers may be headquartered in the US, but the cutting edge of semiconductor manufacturing sits with Asian companies. So does a full ecosystem from testing to advanced packaging. Without this hardware expertise, the AI revolution doesn't scale.</p>
<p>Or consider the energy transition. The ambition is global, but it is copper from Chile and Peru, nickel from Indonesia, and rare earths processing across Asia that turn ambition into real infrastructure. From the AI supply chain to raw materials, emerging markets are central to global growth.</p>
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<p>This communication was produced and approved in March 2026 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.</p>
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