Asia 2050: Realizing the Asian Century

Recommend this overview to all those interested in the long-term economic and social development of Asia.



An additional 3 billion Asians could enjoy living standards similar to those in Europe today, and the region could account for over half of global output by the middle of this century, says this ADB report. This potentially promising future for the region sometimes referred to as the "Asian Century" though plausible, is by no means preordained. An additional 3 billion Asians could enjoy living standards similar to those in Europe today, and the region could account for over half of global output by the middle of this century, says this ADB report.

Contents
List of figures, tables and boxes
List of abbreviations
Foreword
Preface
Executive Summary and Conclusions
Background and Introduction
What is “Asia”?
Is the “Asian Century” preordained?
Asia in the Global Economy during 1750-
Decline and re-emergence: 1750-1990
Reaping of the globalization dividend: 1990-2010
Asia in the Global Economy 2011-2050:
Classic drivers of growth
The new drivers of transformation
From growth to social well-being
Asia in the Global Economy in 2050: The
Basic assumptions
Three country groups
The Asian Century
Asia’s growing global footprint
Realizing the Asian Century: Mega Challenges
Inequities within countries
Middle income trap
Competition for finite natural resources
Disparities across countries and subregions
Global warming and climate change
Governance and institutional capacity
Mega risks
Realizing the Asian Century: A Strategic
Three dimensions
National action
Regional cooperation
Global agenda
Realizing the Asian Century: Inclusion and Equity
What is inclusive growth?
Why focus on inclusion and equity?
What is the status in Asia?
What is needed?
Realizing the Asian Century: Financial Transformation
Asia’s financial rise
Conventional wisdom in finance
Asia in the international financial architecture
Taming finance to serve the real sector
Transformational changes to serve the real sector
Regional cooperation and Asia’s global financial leadership
Realizing the Asian Century: A New Approach
Asia’s urbanization avalanche
Cities of the future
Major risks to be managed
Priority agenda
Realizing the Asian Century: Reducing Energy
Rising energy consumption
Energy import dependency
Priorities for domestic action
Priorities for regional cooperation
Realizing the Asian Century: Action on Climate
Business as usual
Developed country action alone
Complementary action by developing economies
Accelerating the transition to low carbon economies
Global burden sharing
Realizing the Asian Century: Entrepreneurship,
Development
Why focus on entrepreneurship and innovation?
Entrepreneurship and innovation in Asia
Major lessons
Key elements of the entrepreneurship and innovation eco-system
Priorities
Realizing the Asian Century: Transforming Governance and Institutions
Analytic framework
The governance challenge in Asia
Drivers for change in governance and institutions
Key actors of institutional change
Principles and priorities
Realizing the Asian Century: Regional Cooperation and Integration
Regional cooperation matters for Asia’s future
Cooperation instead of conflict
Progress to date with regional economic integration
Drivers of economic integration
Prospects for further economic integration
Countours of future cooperation and integration
Priority areas to facilitate regional cooperation
Institutions for regional cooperation
Prospects and institutional options
Realizing the Asian Century: Asia’s Role in the World
A rising stake in the global commons
Global trading system
Global financial system
Stance on climate change
Stake in global peace and prosperity
Relations with other parts of world
Impact of national and regional policies on others
Global governance
Managing Asia’s rise
The Asian Century vs. the Middle Income Trap: Opportunity Cost
Cost of missing the Asian Century
The intangibles
The human dimension
Annex 1: Demographic Changes in Asia’s Regions by 2050
Annex 2: Model for Developing Global Growth Scenarios