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     • In 2020 Asia’s GDP will overtake the GDP of the rest of the world combined. By 2030, the region is expected to contribute roughly 60% of global growth. Asia-Pacific will also be responsible for the overwhelming majority (90%) of the 2.4 billion new members of the middle classentering the global economy.
     www.weforum.org › agenda › 2019

     In 2020 Asia will have the world's largest GDP. Here's what ...

2. People also ask

   How important is Asia to global economic growth?

   • Asia’s rise to global significance is apparent in major macroeconomic indicators including GDP and consumption. In 2000, Asia accounted for 32 percent of global GDP in terms of purchasing power parity. This share increased to 42 percent in 2017 and is on course for a share of about 52 percent by 2040.

   Globalization in Asia: Flows and networks shaping the Asian Century

   www.mckinsey.com/featured-insights/asia-pacific/the-future-of-asia-asian-flows-and-networks-are-defining-the-next-phase-of-globalization

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   Why is Asia important?

   • Asia became the world’s largest economic and trading region and, as such, center stage as the world order adjusts in a new era. Asia’s robust economic growth and its position as the world’s manufacturing and trade hub give it a critical global role. Asia accounted for 57 percent of global GDP growth between 2015 and 2021.

   Why Asia's economy is on the cusp of a new era | McKinsey

   www.mckinsey.com/mgi/our-research/asia-on-the-cusp-of-a-new-era

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   Is Asia the center of the world economy?

   • Asia is increasingly the center of the world economy. By 2040, the region could account for more than half of global GDP and about 40 percent of global consumption.

   Globalization in Asia: Flows and networks shaping the Asian Century

   www.mckinsey.com/featured-insights/asia-pacific/the-future-of-asia-asian-flows-and-networks-are-defining-the-next-phase-of-globalization

   See all results for this question

   Why did Asia become a major player in the world economy?

   • As Asian economies enjoyed rapid growth and became major players in the world economy, the region as a whole achieved significant capital deepening. It benefited from large domestic savings as well as significant investment inflows—all against the background of a stable macroeconomic environment.

   Why Asia's economy is on the cusp of a new era | McKinsey

   www.mckinsey.com/mgi/our-research/asia-on-the-cusp-of-a-new-era

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3. www.mckinsey.com › mgi › our-researchWhy Asia's economy is on the cusp of a new era | McKinsey

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   Sep 22, 2023 · Asia’s robust economic growth and its position as the world’s manufacturing and trade hub give it a critical global role. Asia accounted for 57 percent of global GDP growth between 2015 and 2021. In 2021, Asia contributed 42 percent of world GDP (at purchasing power parity), more than any other region. 4 GDP data from the World Bank.

4. theconversation.com › how-asia-transformed-fromHow Asia transformed from the poorest continent in the world ...

   theconversation.com › how-asia-transformed-from

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   Oct 17, 2019 · Economic growth drove development. Growth rates of GDP and GDP per capita in Asia have been stunning and far higher than elsewhere in the world. Rising investment and savings rates combined...

   • Author: Deepak Nayyar

5. www.imf.org › en › BlogsAsia Poised to Drive Global Economic Growth, Boosted by ... - IMF

   www.imf.org › en › Blogs

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   May 1, 2023 · May 1, 2023. Asia and the Pacific is a relative bright spot amid the more somber context of the global economy's rocky recovery . As the Chart of the Week shows, the region will contribute about 70 percent of global growth this year—a much greater share than in recent years.

6. Videos

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     mckinsey.com

     Asia’s future is now

     Jul 13, 2019

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     weforum.org

     ASEAN is poised for post-pandemic inclusive growth and prosperity – here's why

     Jan 17, 2022

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     4:16

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     Asian Economies : Nominal GDP (1960 - 2020)

     Feb 9, 2020

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7. www.weforum.org › agenda › 2019In 2020 Asia will have the world's largest GDP. Here's what ...

   www.weforum.org › agenda › 2019

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   Dec 20, 2019 · In 2020 Asia’s GDP will overtake the GDP of the rest of the world combined. By 2030, the region is expected to contribute roughly 60% of global growth. Asia-Pacific will also be responsible for the overwhelming majority (90%) of the 2.4 billion new members of the middle class entering the global economy.

8. www.gic.com.sg › wp-content › uploadsAsia’s Growing Importance in the Global Economy and Financial ...

   www.gic.com.sg › wp-content › uploads

   While exports to the rest of the world remain a key driver, Asian economies increasingly rely on domestic and regional sources of growth due to increased supply-chain, trade, and financial market integration. Change has also been taking place in Asia’s financial markets.

9. www.mckinsey.com › featured-insights › asia-pacificHow Asia’s rise is reshaping the world | McKinsey

   www.mckinsey.com › featured-insights › asia-pacific

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   Jul 26, 2019 · Asia is on track to top 50 percent of global GDP by 2040, a statistic that represents a real shift in the world’s economic center of gravity. In this video, Kevin Sneader, global managing partner of McKinsey, explores the ways in which digital disruption has—and will continue to—transform Asia and its place in the world.