Global players in search of double-digit growth are running out of opportunities. Emerging-market giants such as Brazil, Russia, and China are experiencing an economic slowdown. They are increasingly expensive as a base for operations, and it’s harder to export to and import from these countries than it used to be. As a result, multinationals are paying more attention to low-income, high-risk countries both as new markets for selling goods and services and as platforms from which to export them elsewhere. The authors Aldo Musacchio and Eric Werker offer a framework “The Frontier Matrix” to help you figure out whether and where to play and how to win in the spaces you choose to compete in.