Complex sentence: Even though imprecise, the term has become popular since the late 1980s in commerce, finance and politics though the economies within the region are heterogeneous, they are mostly emerging markets experiencing rapid growth.
Split into simpler sentences: Even though imprecise, the term has become popular since the late 1980s in commerce, finance and politics. Though the economies within the region are heterogeneous, they are mostly emerging markets experiencing rapid growth.