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Posted by admin, January 20, 2020

In 2020 Asia will have the world’s largest GDP. Here’s what that means

  • Business must adapt to a rapidly growing middle class changing consumer behaviour and profiles.
  • Policy-makers must find ways to make the region’s growth sustainable.
  • Poverty and a lack of infrastructure add to the challenges of digital and labour transformation brought by the Fourth Industrial Revolution.

In 2020 AsiaÔÇÖs GDP will overtake the GDP of the rest of the world combined.┬áBy 2030, the region is expected to contribute roughly 60% of global growth. Asia-Pacific will also be responsible for┬áthe overwhelming majority (90%) of the 2.4 billion new members of the middle class┬áentering the global economy.

The bulk of that growth will come from the developing markets of China, India and throughout South-East Asia and it will give rise to a host of new decisions for businesses, governments and NGOs. The pressure will be on them to guide AsiaÔÇÖs development in a way that is equitable and designed to solve a host of social and economic problems.

ORIGINAL SOURCE:

READ MORE https://www.weforum.org/agenda/2019/12/asia-economic-growth/?utm_source=Facebook%20Videos&utm_medium=Facebook%20Videos&utm_campaign=Facebook%20Video%20Blogs

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