The Asian Century (original) (raw)
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The rise of developing Asia and the new economic order
Journal of Policy Modeling, 2011
This paper identifies emerging trends in the world economy during the next decade. The first is that China will overtake the U.S. in terms of gross domestic product (GDP), ending more than a century of U.S. leadership as the world's largest economy. The second is that Developing Asia, excluding Japan, will overtake the G7, a group of the seven largest industrialized economies established in 1975-6. Finally, India will overtake Japan, Russia will overtake Germany, and Brazil will overtake the U.K., leading to a New World Economic Order: China, the U.S.
Asia The Re-Emerging Front-runner (Exploring the Asian Century)
Many of the largest countries in the world are found in Asia. The largest populations, the largest metropolitan cities, oil resources, universities, markets and economies are all found in the largest continent. There's one more thing that's largest in Asia: potential.
The Asian Century: More than just China
International Journal of Economics & Management Sciences, 2014
This paper highlights the important role of the four Emerging East Asian Economies (EEA-4), namely Indonesia, Malaysia, Thailand and Vietnam in Asia. As China's growth pattern is changing as it moves up the income ladder, and is likely to rely more on consumption and less on investment and exports, and more on services and less on industry, these offer opportunities for EEA economies, particularly the EEA-4 to expand their economies through trade and investment. The EEA-4 could tap these opportunities as they have 3Ds: Durable macroeconomic, Domestic consumption and Demographic dividend. Nonetheless, they still face challenges of 3Cs: Credit, Competition and innovation and Confronting inequality. These economies should focus on how to optimize the growth potential of high value added sectors which will be beneficial for income growth and long-term prosperity. They have to be able to tap into its large pool of labor, while progressively moving up the value chain in the manufacturing and services sectors.
China, India, and the Future of the Global Economy
In the first part of the paper an overview of the long-term global economic growth forecasts is presented. Next an extrapolative forecast of global GDP and an estimation of the shares of China and India in the global production by 2050 are presented. The evolutionary model of competition enables to estimate the competitiveness of national economies, therefore in the second part of the paper we present also the results of estimation of the competitiveness of the economies of India and China after World War II. One aim of that research is to compare the competitiveness of China and India with the leaders of economic development in the twentieth century, namely the United States, Great Britain, Germany, Japan and the European Union. A possible scenario of development for the next 40 years is presented in the end of the paper. The evolutionary model of competition allows estimating the competitiveness of national economies; therefore, in the second part of the paper we present the results of estimation of the competitiveness of the economies of India and China after World War II. One aim of that research is to compare the competitiveness of China and India with the leaders of economic development in the twentieth century, namely the United States, Great Britain, Germany, Japan, and the European Union. A possible scenario of development for the next 40 years is presented in the end of the paper.
Asia’s Development Experience in the Twenty-first Century
Millennial Asia, 2019
Asia is one of the largest continents in the world in terms of both the size of population and the geographical area. It constitutes of 48 countries, six non-UN States and six as dependent territories. Asia has emerged as the fastest growing region of the world economy during the first two decades of the twenty-first century (The World Bank, 2018). The share of Asia in the global GDP is 46.7 per cent (IMF, 2019). In terms of global trade in goods, Asia accounts for one-third of it. There is a surge in Asian capital flows and air travel and their global share has risen to 23 per cent and 40 per cent, respectively (Woetzel & Seong, 2019). The sustained rise of Asia in the global economy is essentially attributed to the increasing linkages among the Asian countries, in terms of trade of goods, capital flows and air travel. It is not exaggeration to say that Asia has emerged as an engine of economic growth of the global economy. It has moved at a fast pace from a low income to a middle income group. Thus, the twenty-first century can be called as the 'Asian Century'. It is widely acknowledged that the global economy has been undergoing dramatic transformation. The Asian transformation plays the lead role in terms of innovations in public policies, unique short cycle technologies (Lee, 2019) and inter-and intra-regional economic transactions. This region has immensely contributed to the reduction of global poverty and a substantial improvement in social indicators. Asia is highly diverse in terms of structure and stage of economic development across countries (Nayyar, 2019a, 2019b). The emergence of Asia as an economic power faces challenges from the world economic order dominated by the super power. The rising conflict and restrictions on international trade between China and the USA reflects this. However, apart from global challenges,
Journal of Business and Management Studies (JBMS), ISSN:2709-0876 , 2019
Gravity in general context is a normal process in which all objects with mass or energy, including worlds, stars, galaxies, and also light, is taken to each other. But in economic terms it explains the nature of centre of gravity of the world economy, the typical place of economic operation around geographies on the surface of the planet. This book mainly focuses on rapid growth, diversity and strategic importance of the rising Chinese and Indian economies for the future. The book starts with few questions.Can India and China sustain their current growth rate? What impact will their rapid growth have on the world economy? Will these two economies produce everything? Will the effects of their industrialization on pollution and greenhousegas emission overwhelm the global commons? Will the economic dynamism of China and India shift the patterns of power and bring in a new world economic order, as is often popularly assumed?
India & China: The Rising Power in Global Economy
International Journal of Research in Commerce, Economics and Management, 2012
must be informative and explain the background, aims, methods, results & conclusion in a single para. Abbreviations must be mentioned in full.