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Great cities have proven resilient and adaptable time and again, even when faced with great challenges. As a “new normal” of daily life evolves amid the pandemic, the economic health of emerging market economies remains connected to their largest cities. From everyday necessities to consumer upgrades, we believe understanding consumer behavior within cities is crucial when investing with a long-term view in the emerging markets. The spending power of middle class urbanites provides ballast and stability to a number of sectors and industries across the broader universe of emerging markets.

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