The emerging v submerging economies

Jonathan Pain, author of investment newsletter The Pain Report, is a speaker at the upcoming Perfecting Investment Portfolios event in Auckland.

He told Good Returns he would be discussing the changing face of the world's economy and how the "Western-centric" media are failing to report this transformation.

"My thesis for some time has described the world as being witness to a new reality - the story is that the world is increasingly divergent between the nations that are submerging and those are emerging," he said.

The submerging nations are those developed countries that are drowning in debt.