The cynical and/or woke answer is “colonialism”. The growth is not captured by companies on those exchanges, but by US, EU, and Asian companies. A more neutral hypothesis (for which I have no evidence and have no clue about the truth of it) is that much of the growth is via new companies more than increase in price of existing companies, so no index will show the increase.
The cynical and/or woke answer is “colonialism”. The growth is not captured by companies on those exchanges, but by US, EU, and Asian companies. A more neutral hypothesis (for which I have no evidence and have no clue about the truth of it) is that much of the growth is via new companies more than increase in price of existing companies, so no index will show the increase.