If you're taking an emerging markets class, but you need more help in understanding the information, this could be the book for you. It can also be useful to the investor or businessperson who wants to be introduced to the emerging markets of the world. As many factories are being outsourced in the USA, overseas investments are pretty hot right now, and this book can help you decide if you would want to put your money in and of them.
The books covers a lot about what emerging markets are, how you can identify potentially good investments, and possible problems a U.S. investor may face when negotiating a business deal in foreign countries. A lot of content is devoted to explaining the BRICs (Brazil, Russia, India, and China), the countries with some of the most rapidly developing economies at the moment. The economic history of other emerging markets and frontier markets around the world is explained in detail. The pros and cons of investing in those countries are mentioned too, and the author provides a web link to an English newspaper available online about news in those countries.
Sometimes, the book reads like a textbook without the math, but other times, the language is quite casual. The good thing about the book is that it is very organized with a helpful index, and you can start and end at any chapter you want because you don't need to know the content of preceding chapters to understand what the author is writing. But more examples of the investing situations presented would make this a better book. It also would have been nice to read about the economic theories in emerging markets, to get a better idea of what you're doing when making an investment, but you can't expect a "For Dummies" book to have everything. In any case, the author does give a list of other books you can read to find out more.
I would imagine that in 10 years or so, this edition would be obsolete, because some countries' emerging market status would have changed. But in 2011 and for the next few years, this book ought to be helpful. Of course, you should still do your homework and find out more about the countries and industries you want to invest in before sending money. But this book should help you get started.