"High rates of growth in the emerging markets would eventually lead to their displacement of the developed economies as purchasers of private US securities and the growth of their own domestic markets but"
The "lead to their displacement of the developed economies" part is very confusing. Is it supposed to be "the" instead of "their" OR "by" instead of "of"? Who would be displaced by who? Confusing wording, sorry.
"High rates of growth in the emerging markets would eventually lead to their displacement of the developed economies as purchasers of private US securities and the growth of their own domestic markets but"
The "lead to their displacement of the developed economies" part is very confusing. Is it supposed to be "the" instead of "their" OR "by" instead of "of"? Who would be displaced by who? Confusing wording, sorry.