麦格理：新兴市场正面临30年来最严峻的抉择 印度、巴西等国如何破局？

Group 1 - The article highlights the severe geopolitical and trade environment facing large emerging markets since the dissolution of the Soviet Union, emphasizing the trend of global "camping" and the need for countries like India, Indonesia, Brazil, and Turkey to seek autonomy while navigating complex choices [1][2] - Large emerging markets are described as being in an awkward position, unable to fully integrate into any camp due to their size, while smaller emerging markets have limited autonomy and must choose sides [2][4] - The report categorizes the global landscape into multiple camps, including the "Eurasian camp" led by China and Russia, and the "Western camp" led by the US and its allies, indicating a fragmented geopolitical environment [3] Group 2 - Despite increasing global polarization, large emerging markets are not expected to fully align with any one side, as both US and Chinese attractiveness are declining [4][5] - India is likely to maintain a balanced approach, seeking to maximize its leverage while emphasizing self-reliance as a foundation for development [5][6] - Brazil is predicted to avoid complete alignment with the EU, while Turkey aims to leverage its position as a bridge between the Middle East and the EU to retain autonomy [6][7] Group 3 - ASEAN faces significant challenges, having failed to establish a unified economic framework over the past 30 years, and is at a crossroads between potential marginalization or deeper integration, with Indonesia being a key player in this decision [8][9] - The report anticipates four key impacts from global polarization, including decreased economic efficiency, difficult circumstances for smaller countries, increased autonomy for large emerging markets, and a shift towards domestic capabilities for growth [10][11]