The economic zone of Asia spans from Russia in the North to Australia in the South, and from the Arabian Peninsula and Turkey in the West to Japan and New Zealand in the East – currently representing half of global GDP and accounting for two-thirds of global economic growth. Only $1 trillion out of $30 trillion in middle class consumption growth from 2015 and 2030 is expected to originate from the present Western economies. The majority of the rest will come from Asia.
Asia has turned itself into an economic leader, creating, exporting, importing and consuming more goods than any other region. Asians mainly exchange and invest amongst each other, more than they do with Europe or North America. Asia holds the majority of the world’s foreign trade reserves, a significant number of the biggest banks, modern and innovative organizations, and most of the world’s largest armies. Asia likewise represents 60 percent of the world’s population, having ten times as many people as Europe and twelve times as many people as North America. As the total population moves toward a level of around 10 billion people, Asia will continue to be home to more people than the remainder of the world combined.
The presented report is inspired by the book “The Future is Asian” by Dr. Parag Khanna, which reflects the author’s idea of current world tendencies – there is no turning back from today’s multipolar, multicivilizational order. The globalized world is too mixed to become national and closed again. Nevertheless, the outstandingly rapid development of the Asian region might challenge the current state, turning the tables and shifting the center of gravity towards it. Historically, Asia has grown stupendously from American and European outsourcing, and now the United States and Europe are being buttressed by infusions of Asian investment and talent. The author argues that the world is only in the early phases of global Asianization. Therefore, the main aim of the book is to inspire further exploring how the coming decades will transpire to be prepared to drastic changes in both geopolitical and economic situation across the world.
The report reviews Asia’s socioeconomic development, including the countries’ total economic outputs, the current region’s cooperation and interconnections, and the level of research and development spending, industrial and energetic development,covering energy consumption from renewable sources, and digital development, considering the adoption of digital tools and data-driven approaches. By analyzing the vast amounts of data, the report is able to state that Asia worth being recognized as the most prospective region in the world.