ons, and to regulate the behavior of firms.' CUTS(2001) So, it can be said that overall, mergers and acquisitions have a serious impact on competition and markets all over the world. In developing countries like for example Sub-Saharan Africa, almost all FDI are in the form of M&As. A recent KPMG study revealed that South Africa recorded a total of US$ 7.6bn of cross border inward and outward M&As since June 2000. Most FDI inflows in developing countries are capital intensive and are directed by established sectors like manufacturing, tourism and other services.
2.1.2 The emergence of emerging countries
Long ago, in the late 80s, the early powerful investors were investing in emerging markets with a thought that it would be beneficial if they invest in markets which are developing gradually and will expand further in the future. With the emergence of globalisation, investors expected developing countries developing countries to adopt market-oriented policies hence they would opt to invest in companies at low valuation. However, we can say that in the last two decades , the markets have been altered since closed ones have been opened again by adopting the free market reforms the markets have reached adequate size and liquidity in order to be investable. For example, the demise of the Soviet Union, the collapse of apartheid in South Africa, and the use of more liberal economic policies in China and India have led to the expansion of freer markets and the appearance of companies with sound businesses. Then, more countries have entered the foreign markets and some have been classified as developed markets like Greece and Portugal. As a matter of fact, so as to achieve a high level of economic growth, certain measures have been put forward such as investment opportunities to non-locals. This had attracted more capital since more markets have joined international investment opportunity set. Some markets from countries like the Persian Gulf, the Balkans and Sub-Saharan Africa were the latest joiners. Based on the history of European Integration usually founding members enjoy economic advantages than late joiners. However, in this respect, the exception is the Southern African Development Community (SADC) as the late joiner South Africa in1994 is the regional power house in Southern Africa.
2.2 Trends
2.2.1 The growing of the economies
It is not clear that there is a beaten path to achieving economic growth. Among the development made the manufacturing have experienced an increasing level of development. This has made many developed countries to develop their economies hence attained growth through manufacturing and industrialization. For example, in the post World War 11, the success of the manufacturing sector contributed to the emergence of Japan. After 20 years later, Korea enters this sector by applying the same model and China also followed a similar path. Spence and El Erian (2008) states that these countries have favourable policies, strong political and social consensum targeting and supporting growth.
Emerging countries are facing the impact of crisis but they are still developing hence increasing their growth smoothly. From data and insights, Rapid-Growth Markets forecast on 11th of July 2012 tells us that although recession, stalling growth and high unemployment continue to impact many markets but the overall prospects remain strong. As per analysis, it has been believed that although with the ongoing Eurozone Crisis, the expansion of emerging countries will go further. It is expected that growth will move forward from 4.9% in 2012 to 5.9% in 2013 and 6.5% in 2014.
