Britain’s vote to leave the European Union and simmering discontent in other Western countries is seen as hastening the arrival of an “Asian Century”, analysts say, led by the rise of China and India.
By 2050, Asia will account for over half the world’s GDP, almost double that of 2011, according to the Asian Development Bank, with three billion newly affluent citizens.
The EU and other powerful collectives such as the United Nations, NATO, IMF and World Bank hark back to the post-World War II era, with a vision of cooperation leading to peace, prosperity and security.
But the churning currents of globalization and institutions’ reluctance to reform have left Asian nations feeling that they are not well-represented and looking to form new alliances. Read More