The Unstoppable Economic Rise of Asia

Brian Sturgess

World Economics, 2017, vol. 18, issue 3, 105-112

Abstract: The Asia-Pacific region is set to remain the world's economic powerhouse in terms of economic growth for the next few decades. In value terms, Asian GDP increased between 1970 and 2015 from $4.63 trillion to $45.39 trillion in constant prices, an increase well above the rise in population growth, raising millions out of poverty. If current trends continue World Economics predicts that the share of the Asia-Pacific region in world GDP will have risen to 63.5% by 2050 with Europe declining to 12.1%, the Americas at 18.9% and Africa rising marginally to reach 5.5%. Slowing growth in China will not halt the Asian growth story as conditions for expansion exist across South Asia, particularly in India.

Date: 2017
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