The Asian Continent is one of mystique and dynamism, never has the future of the continent been more exciting, than now...
What does your mind conjure up when you think of cultural diversity? A country or a continent?
In that sense, Asia is the very embodiment of diversity, a veritable continent of contrasts: It is a pot-pourri of varied cultures, languages, governments, religions, lifestyles, and landscapes. Is it any surprise then that Asia has emerged as the largest continental economy?
Historically, the continent has borne witness to some of the world’s longest modern economic booms, starting from the Japanese economic miracle (1950–1990), Miracle on the Han River (1961–1996) in South Korea, economic boom (1978–2013) in China and economic boom in India (1991–present). Asia’s growth is after all being fueled by Economies such as Japan (GDP of $5.33 trillion), Indonesia (GDP of $3.30 trillion), South Korea ($2.23 trillion), and Thailand ($1.3 trillion), apart from powerhouses such as India and China.
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Offering further insights on how Indian Unicorns are poised for the Asian century, Shri Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Government of India, shall delve into what’s triggered the unicorn rush in 2021 against the backdrop of the pandemic
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Another facet, driving Asia’s fortunes is undoubtedly because it is also the largest of the seven continents in the world. But to what degree has the post-pandemic or the geopolitical world changed? Will we see the continued rise of Asian economies or will the balance of power shift elsewhere?
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In a discussion on the Asian transformation, Datuk (Dr) Vinod Sekhar, Chairman and Chief Executive Officer, The PETRA Group, Malaysia sheds light on the trends that will impact a decisive decade.
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Despite the looming uncertainty in the aftermath of a black swan event, Asia has exemplified resilience. Compared to the rest of the world, supply-chain bottlenecks and inflation have been relatively less pronounced in the post-pandemic world. Asia has largely been able to control pandemic-induced disruptions better despite its large populace. Also, most Asian manufacturers are located in the upper links of the supply chain which helped mitigate the impact of supply chain disruptions. There’s also the high logistics efficacy and efficiency that Asia carries that has enabled its economies to wade through periods of crisis better.
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Lynette Tan, Chief Executive Officer, Singapore Space & Technology Ltd (SSTL) speaks of the huge benefits technology brings to the Asian economy. While Ramy Jallad, Group Chief Executive Officer, Ras Al Khaimah Economic Zone (RAKEZ) in a panel discussion speaks on how the uncertain global economic situation and of the reforms implemented in Asia in 2020, for ease of doing business in the region.
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So, let’s take a closer look at the key facets that could make or break the Asian century at The Virtual Edition of the Economic Times Asian Business Leaders Conclave 2022 scheduled on 24th March 2022.
Register Now @ETABLC
