Wednesday 23 May 2012, Istanbul

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Fast-growing emerging economies will decouple from a slowing developed world - yes or no?

As developed economies have faltered, battered by financial instability, the emerging markets have taken on the role of global growth generators. According to the International Monetary Fund, developing economies now account for around half of global GDP on a purchasing power parity basis, and, in 2010, contributed two thirds of global GDP growth.

A lot of attention has focused on the competitiveness and resilience of the BRICs, in particular China and India, but as these economies mature, strategists are now broadening their view and looking at a wider range of markets as future drivers of global economic growth.

Given the dominant role of Asia, how significant will the other emerging regions be? In which dimensions of economic and political activity will Asia, Latin America, Africa and Eastern Europe cooperate or compete with each other? To what extent will growth in emerging markets depend on growth in the developed world? Will the globe see an economic decoupling between the two blocs?

For the emerging economies, what will prove to be the keys to economic success - abundant resources; supply of well-qualified, low-cost labour; infrastructure investment; technology; education; the capacity to move up the value chain and to supplement technology transfer and adaptation with genuine domestic innovation; or the quality of political institutions and leaders?

What about Turkey? Its output has increased 10 per cent over the past four years as domestic demand has soared, helped by increases in external financing and expansionary fiscal policy. How well will it manage to control inflation and its large current account deficit without causing material damage to its growth prospects?

In the fourth of a series of dinner debates organised by the Financial Times and Citi looking at some of the key challenges facing the world over the next 20 to 50 years, high-level strategists will argue for or against the motion: "Fast-growing emerging economies will decouple from a slowing developed world. The debate will be feature expert speakers including Willem Buiter, Chief Economist, Citi, Gideon Rachman, Chief Foreign Affairs Commentator, Financial Times, Krzysztof Rybinski, Rector, Vistula University and former Deputy Governor, National Bank of Poland; and Durmus Yilmaz, Chief Economic Advisor to Turkish President Abdullah Gül and former Governor of the Central Bank of Turkey. The event will be chaired by Stefan Wagstyl, Emerging Markets Editor, Financial Times. With opening and closing remarks by Alberto Verme, Chairman of EMEA Banking, Citi