'Achieving the Asian Century'

from the diplomat........

"Asia is at a crossroads. The region has achieved remarkable economic success in recent years, and now accounts for 27 percent of global GDP. The Asian Development Bank expects Asia’s GDP will increase nine-fold, from $16 trillion in 2010 to $148 trillion in 2050, to account for half of global GDP by the middle of this so-called ‘Asian Century.’

This prosperity is the result of a combination of successful integration into the world economy, high saving rates, and capital accumulation. Yet realization of the Asian Century isn’t guaranteed, and there are three major challenges to attaining the ADB’s expected growth numbers:inflation, the burdens of population growth, and growing wealth disparities. These factors could, according to the ADB, see Asia’s share of global GDP stall at 32 percent".............READ MORE