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   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

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   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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2. 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.

3. 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 openness has performed a critical supportive role in Asian development, wherever it was in the form of strategic integration with the world economy, rather than passive insertion...

   • Author: Deepak Nayyar

4. 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.

5. Videos

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

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   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.

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 · Dec 20, 2019. By 2030, Asia is expected to contribute roughly 60% of global growthImage: REUTERS/Issei Kato. Praneeth Yendamuri. Partner,Bain & Company. Zara Ingilizian. Head, Consumer Industries; Member of the Executive Committee,World Economic Forum. Share: Our Impact.

8. www.economist.com › leaders › 2023/09/21What Asia’s economic revolution means for the world

   www.economist.com › leaders › 2023/09/21

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   Sep 21, 2023 · But over the next five years, the imf predicts, emerging and developing Asian economies are likely to grow by 4.5% a year, three times as quickly as advanced countries. As consumers get richer...