Asia has already roiled the world with three waves of economic transformation. A fourth is now building, drawing on past strengths and adding new digital-age capabilities. By 2040 the world could look very different, with Asia representing half of global GDP and 40% of global consumption—much of it originating from the Association of SouthEast Asian Nations (ASEAN). This report looks at long-term trends to examine how the economic gravity is shifting and why organisations need to prepare for a new phase of globalisation, one that is likely to see Asia as one of the key supports in a multipolar world.
Age of Asia: Rise of a multipolar world is an Economist Impact report, sponsored by PineBridge Investments, that examines Asia’s long-term and evolving place in the global economy. The trends discussed here form a picture of possibility, opportunity and risk that’s set to play a transformative role in the years ahead. As a multipolar balance of technological, economic and geopolitical power reshapes the global stage, Asia is very likely to take on greater importance globally. Considering the forces behind that change and where they might lead is the goal of this report.
Adam Green is the report author and Jason Wincuinas is the editor. In addition to desk research and data analysis, the report includes in-depth interviews with subject matter experts with on-the-ground views and experience of the region coupled with wider industry knowledge. Our thanks are due to the following individuals for their time and insights:
• Jeffrey Ding, postdoctoral fellow, Stanford’s Center for International Security and Cooperation; China lead, Future of Humanity Institute
• Dr Hoe Ee Khor, chief economist, ASEAN+3 Macroeconomic Research Office
• Lars Faeste, managing director, Greater China, Boston Consulting Group.
• Hiroshi Fujiwara, delegate, International Federation of Robotics (IFR) and Japan Robot Association (JARA)
• Parag Khanna, founder and managing partner, FutureMap; author, The Future is Asian: Commerce, Conflict and Culture in the 21st Century
• Krittee Manoleehagul, vice-president, Tencent Cloud International for Southeast Asia
• Charles Mok, founder and director, Tech for Good Asia; former Hong Kong legislator
• Ma Tianjie, Beijing project director, China Dialogue
• Patrick Tsang, chairman, Tsangs Group
