From Chile to China, Indonesia to India, developing countries around the world are experiencing enormous economic expansions—some that are several times greater than the growth rates of the West. In Global Bargain Hunting, bestselling financial writer Burton Malkiel and J. P. Mei, an expert in Asian emerging markets, provide ordinary investors with the information they need to profit from the explosive economic growth expected in developing countries in the coming years. Authoritative, comprehensive, and practical, this book covers the most exciting money-making investments of the 21st century—investments that nobody will want to miss or can afford to ignore. High economic growth coupled with low-priced securities makes emerging markets the best investment bargain in the world. Moreover, these investments are likely to sustain their robust economic growth and provide their impressive return potential now and into the next century. The facts speak for themselves. While the U.S. stock market experienced compounded annual returns of 15.2% during the 1987-1996 period, the Hong Kong market returned 22.2%, Chile 29.6%, and Argentina 31.5%. Global Bargain Hunting, distinguished by the same clarity and insight that characterized Malkiel's enormously popular and influential A Random Walk Down Wall Street, will help nonprofessional investors reap big profits from the tremendous economic growth of developing countries. Though emerging markets hold pitfalls for the unwary investor, Malkiel and Mei show you how to significantly reduce investment risk and dramatically increase returns. Describing a variety of strategies, from the safest and easiest methods to the most daring and complex investment techniques, this indispensable guide explains how to buy portfolios of discounted emerging market securities and how to beat professional money managers at their own game. With their gift for making complex ideas accessible, Malkiel and Mei provide a complete overview of what makes emerging markets such a terrific investment bargain. They reveal the best hunting grounds for investors and explain the four powerful economic engines that will sustain the robust growth of these countries. Finally, you'll learn how to avoid the pitfalls that make some emerging markets a dangerous investment jungle—including political risks, market volatility, currency risks, high transaction costs, and lack of investor protection. In today's ever-changing financial landscape, emerging markets have established themselves as one of the most exciting investment opportunities available. Comprehensive, practical, and accessible for the nonprofessional investor, Global Bargain Hunting, will pave the way to investment success for anybody seeking diversification and the opportunity for big profits.