As chairman of the Latin America Fund Forum 2009 in Sao Paulo last week, I had the pleasure of discussing the future of the region and emerging markets at large with a group of illustrious experts, among them the former head of the Brazil central bank, various global fund of hedge funds, private banks, investment banks and wealth managers.

For a detailed summary of the quantitative and qualitative arguments – which to my surprise include Otto von Bismarck as the new Godfather of “Emerging Markets” please visit http://www.globalfunddistribution.com.

Indeed, much points to the growing importance of emerging markets and a paradigm shift, including developed markets’ strategies to benefit from them:

Norway SWF’s $4 billion to emerging markets: Norway’s $400 billion sovereign wealth fund, the second largest in the world, has 10% of its oil fund allocated to emerging markets (after recent reductions from Europe and the US) and works with Ecofact and now SourceAsia and CSR China to provide the sovereign wealth fund’s “Council on Ethics” with confidential monthly reports on its emerging market investments.

China hails bankers as “model workers”: As a prelude to China’s 60th anniversary, the communist party is hailing Chinese bankers as “selfless guardians of national stability and social harmony”. Much in contrast to the West’s perception to the profession, selected bankers are touring the country as “model workers” and speak at various national gatherings (with mandatory attendance – bankers don’t seem to be the hottest ticket in town for now).

G7 gives way to G20: World leaders of the group of 20 (G20) formally replaced the long-standing group of 7 (G7) as the main body to discuss global economic issues, in recognition of the growing role of emerging countries in the global marketplace, as noted by host President Barack Obama during the current meeting in Pittsburgh.

Asia and China center of gravity of HSBC’s world: Chinese authorities won’t have to deal any longer with executives that are third or fourth in line, as HSBC is setting the precedent (and raising the bar, according to one senior executive in the region) with the relocation of its CEO from London to Hong Kong days before the 60th anniversary celebrations of the communist party. HSBC wants to focus on business relationships between Asia, Latin America, the Middle East and Africa (and recently raised $19 billion in capital for respective investments), as Hong Kong and China already account for 40% of pre-tax profits. HSBC stated, “Asia and China are the centre of gravity of the world and of our business.”

Our secular view – highlighted quantitatively in a recent analysis: Independent of total AUM figures, Asia and other emerging markets will be the growth driver for the industry in the coming five years and the future. Time to brush up on my mandarin: 晚安.