I have of read more than one fund manager who has relocated to Hong Kong or Shanghai on exactly the thesis you describe -- all the action will be in emerging markets. If I were younger, my preference would probably be Brazil. Demographics are a central concern. In the developed world too many countries have demographic profiles that are inverted pyramids.

I believe it is possible to deal with such demographic problems, but it does not appear to be happening in most countries. To do so successfully requires more planing and acting towards common goals than is possible with current ideologies.China is going to face its own demographic crisis in another twenty to forty years and time will tell how well they cope with those problems.

"It is not necessary to have hope in order to persevere."