Statistics indicate that over half of the world output now comes from emerging markets. This is leading to a(n) of living standards across the globe and is changing the face of business.

convergence

Explanation:

An emerging market economy is simply a developing nation's economy that is gradually growing and becoming connected to global markets.

Statistics indicate that over half of the world output now comes from emerging markets. This is leading to a convergence of living standards across the globe and is changing the face of business

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