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Sep 18, 2019 · 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. Global cross-border flows are shifting towards Asia on seven of eight dimensions, and the region’s growth is becoming more broad-based and sustainable as its constituent economies increasingly integrate with each other.
Asia’s rise has been swift. Home to more than half of the world’s population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50% of world GDP, and could accountfor nearly 40% of global consumption. New McKinsey Global Institute researchshows the extent to ...
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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 classentering the global economy. The bulk of that growth will come from ...
Jan 29, 2019 · It has spent an estimated $200 billion on B.R.I. projects so far, mostly in Asia, and has implied it will spend a total of $1 trillion on hundreds of projects around the world in the coming years ...
May 1, 2023 · Growth in Asia and the Pacific is forecast to accelerate to 4.6 percent this year from 3.8 percent last year. The main development has been the reopening of China, where surging consumption is boosting growth across the region despite weaker demand from the rest of the world. Risks to the outlook include spillovers from greater-than-expected US ...
