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The Asian Century is a term used to describe the belief that, if certain demographic and economic trends persist, the 21st Century will be dominated by Asian politics and culture, similarly to how the 20th Century is sometimes called the American Century . ORIGIN The phrase 'Asian century' arose in the mid to late hearing {Link without Title} . It has been subsequently reaffirmed by Asian political leaders, and is now a popularly used term in the media. REASONS Most of the speculation as to a future Asian century is based on population growth and economic growth forecasts, as well as the growth that has already occurred in much of Asia. While much emphasis is focused on the growing power of India and China , the term Asian Century generally refers to all growth in East Asia , South Asia , and Southeast Asia . Russia may also be considered a rising economy in Asia, but it is usually not being referred to in the use of this term. Demographics Population growth in Asia is expected to continue through at least the first half of the 21st century. Nearing 4 billion persons in the beginning of the 21st century, the Asian population is predicted to grow to more than 5 billion by 2050 [http://www.prb.org/datafind/prjprbdata/wcprbdata7.asp?DW=DR&SL=&SA=1]. While its percent of world population is not expected to greatly change, North American and European shares of the global population are expected to decline [http://www.prb.org/Content/NavigationMenu/PRB/Educators/Human_Population/Population_Growth/Population_Growth.htm]. This is significant if one is to believe that demographic growth is directly linked to economic growth [http://www.foreignaffairs.org/20040501faessay83307/phillip-longman/the-global-baby-bust.html]. Economics One major reason for the belief in a coming Asian Century is the remarkable economic growth in Asia, and the continuing growth rates. Since the end of the 1970s , the Chinese Economy began two and half decades of economic growth rates between 8 and 10%. The Indian Economy began a similar ascent at the end of 1980s and early 1990s , and has grown to slightly over 8% in 2005. The delay or 'lag' factor in India's growth is attributed to its late economic start and for some the question being asked is whether India will be able to catch up with China or even exceed it {Link without Title} . in Shanghai is an example of Chinese economic growth and its large consumer base.]] Both of these developments involved policy of a degree of managed liberalisation of the economy as well as a turning outwards of the economy towards globalisation (both exports and attracting inward investment). The magnitude of this liberalisation and globalisation is still subject to debate. They were part of conscious decisions by key political leaders, especially in India and China. Also, the populations of the two countries offer a potential market of over two and a quarter billion. The development of the internal consumer market in these two countries has been a major basis for economic development. This has enabled much higher national growth rates for China and India in comparison to Japan , the EU and even the USA . The international cost advantage on goods and services, based on cheaper labour costs, has enabled these two countries to exert a global competitive pressure. The trend for greater Asian economic dominace has also been based on the extrapolations of recent historic economic trends. Goldman Sachs , in its BRIC economic forecast, highlighted the trend towards China becoming the largest and India the 3rd largest economies by the year 2050 in terms of GDP . The report also predicted the type of industry that each nation would dominate, leading some to deem China 'the industrial workshop of the world' and India 'one of the great service societies' {Link without Title} . Culture Culturally, the Asian century is symbolised by Bollywood , Bhangra and Hong Kong Chinese Genre Films . The awareness of Asian culture may be a part of a much more culturally aware world, as proposed in the Clash Of Civilizations thesis. Equally, the affirmation of Asian global culture has an impact on the identity politics of Asians in Asia and outside in the Asian Diaspora . This may lead to greater forms of Asian Nationalism . Though the use of s, which have opened in numerous nations to teach Chinese language and culture {Link without Title} . Politics The global political position of China and India has risen in international bodies and amongst the world powers, leading the USA and EU have become more active in the process of engagement with these two countries. China is also a permanent member of the UN Security Council . Although India is not a permanent member, it is possibile that it will become one or at the least gain a more influential position [http://news.bbc.co.uk/2/hi/americas/3679968.stm]. Japan is also attempting to become a permanent member [http://www.washingtonpost.com/wp-dyn/articles/A46196-2005Mar18.html?nav=rss_politics]. An Asian regional bloc may be further developed in 21st century around . Another new organization, the East Asian Summit , could also possibly create an EU like trade zone {Link without Title} . The Russian Prime Minister Yevgeny Primakov formulated or at least encouraged the idea of a triple alliance between Russia , China and India to counter the dominance of the USA and support the idea of a multi-polar world {Link without Title} . It has yet to develop into anything tangible. The political future in Asia, whether more united or more polarized, is unclear. Yet most all forecasts predict China and India to be amongst the Major Power s if not Super Power s in the 21st century. CRITICISM Despite forecasts that predict the rising economic and political strength of Asia, the idea of an Asian Century has faced criticism. This has included the possibility that the continuing high rate of growth could lead to in the world, the 21st century will be Multipolar , and no one country or continent will have such a concentration of influence. SEE ALSO REFERENCES
EXTERNAL LINKS Speeches and Political Statements
Forecasts
Criticism
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