Moreover, multinationals have great trouble retaining the managers they do have in emerging markets, says Mr Hout.

ECONOMIST: The empire strikes back

The founders of emerging-market firms are often impressive, but such firms typically lack the depth of management talent of old multinationals, says Mr Hout.

ECONOMIST: The empire strikes back

Pupils from different schools in Cape Town (areas such as Langa, Khayelitsha, Hout Bay, etc) were firstly exposed to the difficulties of obtaining water from a standpipe in Khayelitsha (an informal settlement).

UNESCO: World Water Assessment Programme (WWAP)