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.…

Ecns
World economies head for a shake upChina Daily

Sandhya Jain — Rise of a multi-polar Asia – a view from India

Moscow straddles a multipolar world and a multipolar Asia. Given that the bulk of its vast territories embrace the Asian landmass, it would be a mistake not to think of Russia as an Asian power. 

The reality that it is already a multipolar Asia would not have escaped Beijing, which in recent years is expanding its global footprint while seeking a commanding presence in its Asian neighbourhood. Given its deep economic and strategic ties with Moscow, Beijing obviously recognises that Russia will pursue its interests in Central Asia, Europe, Iran and the Islamic world, with India, and elsewhere....

The interests of all four nations [Russia, China, India, and Iran] converge in many areas. 

In fact, China’s One Belt One Road, India’s Cotton Route and Project Mausam, and the Russian-led Eurasian Economic Union (EEU), are all complementary projects based on the old land and sea-based trade routes of the ancient world. Even in the centuries BC, the land and sea commerce between India, Persia, Egypt, up to the African coast, was protected by different dynasties; China joined this trade only under the Han dynasty, but expanded it exponentially...

The Vineyard of the Saker
Rise of a multi-polar Asia – a view from India
Sandhya Jain

Xi Jinping — Towards an Asian century of prosperity

The combination of the world’s factory and the world’s back office will produce the most competitive production base, writes Xi Jinping, President of China

The Hindu (India) | OpEd
Towards an Asian century of prosperity
Xi Jinping | President of the People's Republic of China

The Asian Century

By 2050, Asia will have more than five billion people, while the European Union’s share of the global population will decline from 9% to 5%. Annual economic growth in Asia over the past 30 years has averaged 5%. Its GDP is projected to increase from $30 trillion to about $230 trillion by 2050. The balance of power in the twenty-first century is shifting – in social, economic, and, arguably, political terms – from west to east.

Read the rest at Project Syndicate

The Impoverished “Asian Century”

by Chandran Nair
(h/t Kevin Fathi via email)

Nair argues that the East cannot emulate the consumption model of the West owing to resource constraints and pollution concerns. This will involve modifying adoption of the Western liberal tradition in the East. Pursuit of maximum utility by individuals is not a human right in this view, even though it is a cardinal tenet of Western neoliberalism.