By Rajiv Biswas
Asian Megatrends assesses the main drivers impacting Asia over the subsequent twenty years. the increase of China is reworking the Asia-Pacific, as China’s financial and army may perhaps more and more reverberates through the area. India and Indonesia also are emerging Asian powers which are altering the form of the Asian fiscal panorama. The speedy development of rising Asian purchaser markets is changing into an more and more vital development engine for the realm financial system and for worldwide multinationals. even though, Asia faces super monetary and social demanding situations over the long term, together with the speedy progress of Asian megacities and serious environmental difficulties as a result of weather switch, water crises and pollutants. Geopolitical tensions have additionally been escalating within the Asia-Pacific as a result of territorial disputes within the South China Sea and the East China Sea, expanding the chance of a nearby hands race and army confrontation.
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In the Asia-Pacific region, South Korea and Australia, both of whom had initially been undecided about joining the AIIB, both submitted their applications to join once the wave of European applicants became evident. In April 2015, the AIIB announced that a total of 57 nations were admitted as founder member nations of the AIIB, including Australia, Brazil, Saudi Arabia and many of the EU countries. The US and Japan did not apply to join. With such a large international group of nations now part of the AIIB a key area of focus has been on the governance structure of the new organization, particularly in regard to the system of voting rights and management structure.
However due to ageing demographics and increasing life expectancy, the old age dependency ratio is expected to rise dramatically, from 18 per cent in 2015 to 37 per cent by 2030 and 66 per cent by 2050. 1 children per woman. It is also difficult to envisage that South Korea will allow significant immigration from abroad as a means of mitigating its ageing demographics. The Impact of Ageing Demographics on Asia 31 Although South Korea is projected to have net immigration inflows over the next two decades, the annual rate of immigration is projected to remain very low.
Asia’s Consumer Spending Boom 19 The Chinese government’s new “Made in China 2025” strategy for the future development of China’s manufacturing sector has made the development of Chinese brands in global markets one of its key strategies for the next decade. Asian automakers are also expanding their regional footprint, with Hyundai having become one of the leading auto brands in the Indian domestic auto market as well as having made India an important hub for production of Hyundai cars for export markets.