Asia’s GDP To Overtake The GDP Of The Rest Of The World – Free PDF Download

SOVEREIGN STATES AND DEPENDENT TERRITORIES IN ASIA

• The 49 generally recognized sovereign states listed  here include two countries that generally are  classified as European or African nations but with  portions of their territory being in Asia, while the  two states with substantial, but not general,  recognition are both fully encompassed in Asia.

ASIA

• Earth’s largest and most populous continent
• Asia covers an area of 44,579,000 square kilometres  (17,212,000 sq mi), about 30% of Earth’s total land area and  8.7% of the Earth’s total surface area.
• Its 4.5 billion people (as of June 2019) constitute roughly  60% of the world’s population.
• In demographics, the world population is the total number of humans currently living, and was estimated to have reached 7.7 billion people as of April 2019.

THE RE- EMERGENCE OF ASIA

WHEN INDIA AND CHINA WERE  PROSPERING, RELIGIOUS WARS WERE  GOING ON IN EUROPE

• The Thirty Years’ War was a war fought primarily in  Central Europe between 1618 and 1648. One of  the most destructive conflicts in human history
• Total: 8,000,000 dead
• The deadly clashes ravaged Europe;  20 percent of the total population of  Germany died during the conflict and there were losses up to 50 percent in a  corridor between Pomerania and the  Black Forest.

HISTORY

• India producing about 25% of the  world’s industrial output up until  1750, making it the most important  manufacturing centre in international  trade.

IN THE 15TH AND 16TH CENTURIES, CHINA WAS ABOUT 25-30% OF  THE GLOBAL ECONOMY

VISUALIZING THE COMPOSITION OF THE  WORLD ECONOMY BY GDP (PPP)

CHINA’S RISE

PURCHASING POWER PARITY

• In purchasing power parity (PPP) terms, Asian  economies will become larger than the rest of  the world combined for the first time since  the 19th century.
• Not only is Asia growing richer; as it becomes  more integrated, it is also coalescing as a  constructive force for global governance.

INTEGRATED ASIA

BRI

• A recent study by the World Bank estimates that if  fully implemented, BRI transport projects could  increase trade between 1.7% and 6.2% for the  world, increasing global real income by 0.7% to  2.9% and helping to lift 7.6 million people from  extreme poverty in the process.

DIFFERENT COUNTRIES, DIFFERENT  PROSPECTS

• China’s ageing population will negatively  impact the population dividend, but rising  wages, urban migration, service jobs and an  anticipated drop in household savings rates  will boost consumption.

WILL INDIA MISS THE RACE?

POINT  TO NOTE

• In the emerging economy, especially in Asia, China  decreases its exports of labour-intensive  manufactured goods and countries like Vietnam and  Indonesia are stepping into that role.
• India needs fast reforms in order to become part  of the Asian century otherwise the Asian century  will only be known as the East Asian Century.

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