ital. Figure 26: EM vs DM net margins (%) — Industrials Net Margin (%) 10 12 14 -2 0 2 4 6 8 Source: Deutsche Bank, Bloomberg Finance LP MSCI EM - Industrials MSCI DM - Industrials Figure 27: EM vs DM net margins (%) — Information Technology Net Margin (%) 10 12 14 16 18 0 2 4 6 8 MSCI EM - I