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The Asian century is set to begin


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2019 Mar 28, 3:31pm   2,578 views  25 comments

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The Asian century is set to begin - The region was the envy of Europe in 17th century and the world is about to turn full circle.

Asian economies, as defined by Unctad, will be larger than the rest of the world combined in 2020, for the first time since the 19th century
Economists, political scientists and emerging market pundits have been talking for decades about the coming of the Asian Age, which will supposedly mark an inflection point when the continent becomes the new centre of the world.

Asia is already home to more than half the world’s population. Of the world’s 30 largest cities, 21 are in Asia, according to UN data.
By next year, Asia will also become home to half of the world’s middle class, defined as those living in households with daily per capita incomes of between $10 and $100 at 2005 purchasing power parity (PPP).

Since 2007, Asians have been buying more cars and trucks than people in any other region — by about 2030 they will be buying as many vehicles as the rest of the world combined, according to LMC Automotive.

Leaders in the region are beginning to talk more openly about the shift. “Now the continent finds itself at the centre of global economic activity,” Narendra Modi, prime minister of India, told the last annual meeting of the Asian Infrastructure Investment Bank. “It has become the main growth engine of the world. In fact, we are now living through what many have termed the Asian Century,” he said.

So when will the Asian Age actually begin?

The Financial Times tallied the data, and found that Asian economies, as defined by the UN trade and development body Unctad, will be larger than the rest of the world combined in 2020, for the first time since the 19th century. The Asian century, the numbers show, begins next year.
To put this in perspective, Asia accounted for just over a third of world output in 2000.

To make its calculations, the FT examined IMF data based on gross domestic product after adjusting for price differences in different countries.

This method, which assesses economies by PPP, is widely considered the most relevant measure as it takes into account what people can actually buy in developing countries where prices are often cheaper.

Even at market exchange value, Asia still accounts for 38 per cent of global output, up from 26 per cent in the early 2000s.

Full Article w/graphs etc. https://www.ft.com/content/520cb6f6-2958-11e9-a5ab-ff8ef2b976c7

Note: The link ay or may not work since the article is still behind a pay wall. Please advise if you can not access the entire article.

#Asia #WorldEconomy

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2   Rin   2019 Mar 28, 3:51pm  

First of all, Asia is what? ... People's Republic of China, India, Korea, Japan, Thailand, Singapore, Malaysia, Philippines, Indonesia, Taiwan, Vietnam, Laos, Cambodia, Nepal, Brunei, Bhutan, Sri Lanka, etc.

If anything, those are disparate nation-states with differing languages, races, and cultures.

So if you mean by Asian Century that yes, the regions of the world with the highest population density plus working centers will net a higher income than ever before then you're correct. On the other hand, why are so many mainland Chinese trying to move their money through private banks in Singapore? Is it because on some level, they don't trust their own nation-state to protect their assets?

If anything, Asia shares no common race or culture. Indians are a mix of Aryan/Dravidian races; Chinese are Chinese; Koreans are Koreans, etc.
3   Heraclitusstudent   2019 Mar 28, 4:01pm  

I'd say the African century is about to begin.
African population is projected to double before 2050 and surpass 5 billions people 100 yrs from now.
About 10 times more than Europe.
And it's likely many will flee their countries and spread in the rest of the world.

If you think we are seeing large waves of immigration now. We've seen nothing yet.
If Asia gets richer, many will probably move there.

4   Rin   2019 Mar 28, 5:50pm  

Heraclitusstudent says
If Asia gets richer, many will probably move there.


Immigrating to an east Asian nation is a lot more difficult than it is for the west where there are refugee categories along with the lottery system.

For example, in Singapore, a domestic worker (maid, etc), many who come from the poorer sections of the Philippines, are not eligible for green cards w/o getting married to a local.

Likewise, temporary construction workers also face issues because the country wants white collar skills for the green card so they normally have to have a business to get through the hurdles.

So sure, a oil executive from Nigeria clearly has a path towards living in Asia but not the laborers in the fields.
5   FortWayneAsNancyPelosiHaircut   2019 Mar 28, 6:12pm  

Clearly you don’t know how life is in China. Or other Asian nations.
6   Rin   2019 Mar 28, 7:14pm  

FortWayneIndiana says
Or other Asian nations.


At this point in time, there are three first world nations in Asia, if you exclude Taiwan since it's not fully independent. Those nations are Singapore, South Korea, and Japan.

Still, despite their first world status, many Singaporeans, Koreans, and Japanese still opt for study or work in the US, UK, or Canada. In fact, the University of Chicago opened a 2nd business school in Singapore to take advantage of the demand. The problem is that U of C needs a better name, since its namesake is overly connected to the Windy City.

So until east Asia becomes the destination for world scholars, etc, and not just a place full of highly insular nation-states and ethnicities, the most the Asian century will be, is a period of economic prosperity where less ppl live in favelas than in prior times.
7   Shaman   2019 Mar 28, 7:30pm  

I’m long Asia. Really long. It’s full of smart industrious people with a keen desire to acquire wealth. It’s a no brainer that their access to first world technologies is going to bring opportunities and unprecedented advancement.
Asia could be our allies if we can strike a power balance and then integrate our cultures appropriately.
We’ve gone a long way towards that already, and aside from military posturing and Sabre rattling, this relationship is likely to continue and strengthen.

I now have a lot of Asian people in my extended family.
8   FuckTheMainstreamMedia   2019 Mar 28, 10:40pm  

I hope not. The Chinese are pretty fucking evil. Snowflakes think it’s rough with President Trump? Woo boy, you ain’t seen nothing yet.
9   anonymous   2019 Mar 29, 5:37am  

FortWayneIndiana says
Clearly you don’t know how life is in China. Or other Asian nations


Kindly come up with a new line ("you don't know") - not inclined to entertain the resident of Reseda as to why he is 100% wrong and then some - again.
10   Rin   2019 Mar 29, 10:52am  

Kakistocracy says


Judging by this pic, you would think that Asians were homogeneously Chinese or at best ... a blend of the ppl of the northeast.

Here are some of the other nationalities in the region ...

India



Thailand



So until all these nations are federalized under one govt, it's a multi-polar region and for the most part, a lot of ppl will resist the PRC's attempt at controlling 'em. At the end of the Vietnam conflict, with the Americans out, even Vietnam fought PRC at their border region circa 1979.
11   Shaman   2019 Mar 29, 10:53am  

Heraclitusstudent says
I'd say the African century is about to begin.
African population is projected to double before 2050 and surpass 5 billions people 100 yrs from now.


Not unless they suddenly grow a culture that can support all those people. As it is, the unorganized farming and economies of most of the African nations barely keep their current residents from starving. And this in a continent rich with fertile soil. Instead constant shipments of grain and foodstuffs are imported from northern latitudes. And much of this is still distributed based on charity.

Western countries grew their populations with advanced farming methods, advanced sanitation and health, and advanced culture that made women feel safe and ready to produce more kids. Africa ain’t got that. And since they’ve had access to incredible natural resources since the beginning, the problem must lie with the people themselves. Even blaming colonialism won’t work, because in most every case, being colonized improved their civilization 100 fold.
12   Heraclitusstudent   2019 Mar 29, 10:58am  

Quigley says
advanced culture that made women feel safe and ready to produce more kids

They apparently feel safe enough for mass-production.
And don't they will burn forests, eat all animals in parks, and fish in the ocean, then move to greener pastures.
Btw, Africa is as large as China, India, the United States AND most of Europe put together. They still have space.
13   indc   2019 Mar 29, 11:28am  

Rin says
Kakistocracy says


Judging by this pic, you would think that Asians were homogeneously Chinese or at best ... a blend of the ppl of the northeast.

Here are some of the other nationalities in the region ...

India



Thailand



So until all these nations are federalized under one govt, it's a multi-polar region and for the most part, a lot of ppl will resist the PRC's attempt at controlling 'em. At the end of the Vietnam conflict, with the Americans out, even Vietnam fought PRC at their border region circa 1979.

I dont understand what you are trying to say? only homogeneous cultures grow?
That comes from people who follow a "the book". But Asia was not like that until the spread of islam, christianity and communism. And neither were other continents.
These viruses will be fought back eventually and there will be equilibrium.
Even Italy and Greece are now part of BRI. The eventual colonization of Europe has begun. Now Islam is spreading then communist idealogy. What will happen to your homogeneity then?
14   Rin   2019 Mar 29, 12:18pm  

indc says
I dont understand what you are trying to say? only homogeneous cultures grow?


When you see the pic, it's basically a pic of Chinese culture, not including the fact that Asia has many cultures.

Unless one is living under a rock, PRC and India are not exactly best of friends and neither are many of the other nations to the middle kingdom. With that in mind, sure, economically, a lot of work goes on in Asia which by nature, will raise standards of living and bring prosperity to those nations just as it did for South Korea, Taiwan, and Japan during the 70s and 80s.

Still, despite each nation getting a bigger slice of the pie, the Vietnamese, Thais, Filipinos, Indians, etc, will not take marching orders from Beijing. Why do you think that the US and Singapore are so close? It's because Singapore is flanked by two Islamic states, Malaysia & Indonesia, and needed all the protection that it can get from a possible invasion. These rivalries didn't just start a few years back. It's been an ongoing thing throughout the Cold War and the years after it.


In contrast, aside from hockey & soccer, the US and Canada are pretty much on the same page, along with the UK, Netherlands, Belgium, etc. And thus, it was possible for a long term post-WWII to occur in the so-called west with both economic and military ties. If India and PRC start to perform jointed military ventures then the article is possibly correct and there could be an 'Asian' century. Otherwise, no, these are rival nations and so while the general populace will experience a higher standard of living, it will not be a true Pan Asian alliance.
15   anonymous   2019 Mar 29, 12:29pm  

The image is not the original for the article. The first one (now gone) has now been replaced with this one.



I should have used this one.



All that being said if the link to the FT site is not working, use this one. You can access some of the graphics which are worthwhile.

https://searchbonus.eu/nh-the-asian-century-is-set-to-begin/
16   anonymous   2019 Mar 29, 12:38pm  

It if makes everyone happier, I will swap out the images to the brown one simply stating The Asian Century so all countries are included. - let me know.

For what it's worth the original one was of 17th century China in a court setting with western Traders/Merchants
17   Heraclitusstudent   2019 Mar 29, 1:09pm  

If you want to make the point that this is the Asian century, you're better off leaving poor Russia out of it.
Kakistocracy says
18   HeadSet   2019 Mar 29, 1:15pm  

even Vietnam fought PRC at their border region circa 1979.

Border region? Try gates of Hanoi.
19   Rin   2019 Mar 29, 1:15pm  

Actually, from a geopolitical p.o.v, the physical dimensions of Asia are not what is meant by Asian.

Asian-ess represents the regions of the Asia-Pacific rim (East Asia) along with South Asia (India, Sri Lanka, Nepal, Bhutan, Bangladesh).

Then, there's the middle east which is basically the Arab nations plus Iran/Afghanistan (a.k.a site of old Persia) & I suppose you can add Pakistan as well, since it's fully Islamic, bordering Afghanistan, and not Indian outside of race.

Then there's the Soviet sphere which is Russia, the Central Asian 'Stans, plus Georgia/Armenia/Azerbaijan.

Oh, I forgot about Turkey, the forgotten near eastern state, not accepted by Europe but not either Asian or middle eastern.

So if/when a major economic trading alliance forms for real, it'll be East Asia and South Asia.
20   Rin   2019 Mar 29, 1:30pm  

Rin says

Oh, I forgot about Turkey, the forgotten near eastern state, not accepted by Europe but not either Asian or middle eastern.


Let me add Israel, the land based "Cypress" of the middle east where in fact, there's a long term ethnic apartheid. Cypress, being in the Mediterranean, gets to shake off the middle east title though it probably deserves it.
21   mbSFBay   2019 Mar 29, 1:41pm  

APOCALYPSEFUCKisShostikovitch says
Kakistocracy says
Since 2007, Asians have been buying more cars and trucks than people in any other region — by about 2030 they will be buying as many vehicles as the rest of the world combined, according to LMC Automotive.


Great! They'll all be dead by 2030, given how they drive!

VICTORY! FOR! WHITE! PEOPLE!


I find this hilarious, and I am Asian, kinda, the brown kinda.
22   anonymous   2019 Mar 29, 3:05pm  

Last try..



The ‘Asian Century’ scenario: Asia’s share of global GDP seen to rise rapidly.

The Asia-Pacific region could account for over half of global output by the middle of this century, according to a report by Asian Development Bank (ADB). This potentially promising future for the region sometimes referred to as the ‘Asian Century’ though plausible, is by no means preordained.

https://www.bworldonline.com/the-asian-century-scenario-asias-share-of-global-gdp-seen-to-rise-rapidly/
23   georgeliberte   2019 Mar 29, 3:27pm  

Headset says: "even Vietnam fought PRC at their border region circa 1979.

Border region? Try gates of Hanoi."

Actually no. I was just in Loa Cal in February and it is a good days drive from Hanoi through mountainous terrain. It is at the gates of Hanoi in the sense that Wilmington NC, is at the gate of Washington DC.
24   HeadSet   2019 Mar 29, 8:40pm  

georgeliberte says
Headset says: "even Vietnam fought PRC at their border region circa 1979.

Border region? Try gates of Hanoi."

Actually no. I was just in Loa Cal in February and it is a good days drive from Hanoi through mountainous terrain. It is at the gates of Hanoi in the sense that Wilmington NC, is at the gate of Washington DC.


You are correct. I looked it up and the PLA only got to about 80 miles from Hanoi.
25   Rin   2019 Mar 31, 10:31pm  

TrumpingTits says
Total BS. China didn't get rich enough before it started to get old.


Here's the thing ... it's not about China (PRC). This article has confused the economic rise of the Asia-Pacific rim (plus South Asia) to that of a culture or nationality called 'Asian'.

When ppl talk about the American Century, it's about the United States of America, its associated NATO allies, and the world in general, as a result of the power of the USA.

Yes, in the middle, is the USA, one nation, one flag.

In contrast, the nations of Asia-Pacific rim (plus South Asia) do not trust the PRC as some sort of spiritual leader for the entire region. And thus, as the entire region grows in wealth, there will be sabre rattling among its member nations, indicating that it's not one common bloc like the EEC a/o USA/NATO during that past half century. No one, esp if one's an independent nation, wants to be some vassal of the Beijing govt. In fact, it can even be argued that Singapore with its 75+% Chinese ethnic population is the independent (but displaced) China of Southeast Asia, unlike let's say Hong Kong/Macau or Taiwan.

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