The Asian century?

Will the 21st century be the Asian century?

The growing importance of Asia's major economies will continue in 2018 and beyond, according to a league table that sees the region dominating in terms of size in just over a decade.

The report by the Centre for Economics and Business Research in London sees India leapfrogging the UK and France next year to become the world's fifth-biggest economy in dollar terms. It will advance to third place by 2027, moving ahead of Germany.

In 2032, three of the four largest economies will be Asian - China, India and Japan - and, by that time, China will also have overtaken the U.S. to hold the No. 1 spot. India's advance won't stop there, according to the CEBR, which sees it taking the top place in the second half of the century.

Also by 2032, South Korea and Indonesia will have entered the top 10, supplanting Group of Seven nations Italy and Canada.

In October 2014, the International Monetary Fund said that China had overtaken the US as the world's largest economy when it is measured by purchasing power parity. The PPP measurement is based on the rationale that prices of goods are not the same in individual countries.…

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