July 4, 2010

Will Asia take charge of the 21st century?

Asia has always been home to the emergence and dominance economic prosperity, especially of the so-called "Tiger Economies". Yet, as much potential as it possessed, was washed by the Asian Financial Crises, - from Malaysia to Singapore, to Thailand and Hong Kong. Despite the gloom predicted, Asia bounced back with its ever-so capitalistic ideology to kick-start yet another era of growth and security.

Today, the region is well known for manufacturing of chip sets, multimedia and even perishables. Home to leading Fortune 500 companies, Asia has ever so lured Western magnates for labour and capital investment.

A piece in the Financial Times tips the region to take lead the 21st century with its characteristics of growth and socio-economic empowerment, but warns of insecurity in the region, arising from hostilities of communist North Korea, and the environmental and rapid urbanisation in parts of China which is seen as pulling back forecasts of growth.

It remains interestingly poised to see a new awakening in the shift of power and economics.

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