This page reminds us of the longer-term structural drivers of emerging market economies. The chart on the left summarises the process of economic development. As economies develop they tend to urbanise and move up the value-added chain from agricultural output to manufacturing and services. This coincides with rising income per capita. The chart contrasts the current position of relatively advanced economies such as the US and Japan with China and India who still have significant scope for development. The chart on the right shows the projected acceleration in urbanisation that China and India are expected to experience in comparison to the US.