General Essay Asian Century The Asian Century is the projected 21st-century dominance of Asian politics and culture, assuming certain demographic and economic trends persist. The belief in a future Asian Century parallels the characterization of the 20th-century as the American Century, and the 19th century as the British Century. A 2011 study by the Asian Development Bank found that an additional 3 billion Asians could enjoy living standards similar to those in Europe today, and the region could account for over half of global output by the middle of this century. It warned, however, that the Asian Century is not a given and needs to worked for. Asias robust economic performance over the three decades preceding 2010, compared to that in the rest of the world, made perhaps the strongest case yet for the possibility of an Asian Century. Although this difference in economic performance had been recognized for some time, specific individual setbacks (e.g., the 1997 Asian financial crisis) tended to hide the broad sweep and general tendency. By the early 21st century, however, a strong case could be made that this stronger Asian performance was not just sustainable but held a force and magnitude that could significantly alter the distribution of power on the planet. Coming in its wake, global leadership in a range of significant areas—international diplomacy, military strength, technology, and soft power—might also, as a consequence, be assumed by one or more of Asias nation states. Among many scholars have provided factors that have contributed to the significant Asian development, Kishore Mahbubani provides seven pillars that rendered the Asian countries to excel and provided themselves with the possibility to become compatible with the Western counterparts. The seven pillars include: free-market economics, science and technology, meritocracy, pragmatism, culture of peace, rule of law and education. India has the largest film industry in the world. PM Modi sugested to the UN make yoga popular to the world. Though the use of English continues to spread, Asian languages are becoming more popular to teach and study outside of the continent. The rapid expansion of human capital through quality education throughout Asia has played a significant role in experiencing higher life expectancy and economic growth, and even to the quality of institutions and whether societies will make the transition into modern democracies. NDB, CRA and AIIB are likely to fund the emergence of Asia as a global powerhouse. Fo Asian century to emerge, India needs to become UNSC permanent member as it will help it tap its own human capital; defend interests of the continent and in fact all the developing countries; strengthen bridges among the entire south; guard peace and security of the world etc. Asia’s growth is not guaranteed. Its leaders will have to manage multiple risks and challenges, particularly: • Growing inequality within countries, in which wealth and opportunities are confined to the upper echelons. This could undermine social cohesion and stability. • Many Asian countries will not be able to make the necessary investments in infrastructure, education and government policies that would help them avoid the Middle Income Trap. • Intense competition for finite natural resources, such as land, water, fuel or food, as newly affluent Asians aspire to higher standards of living. • Global warming and climate change, which could threaten agricultural production, coastal populations, and numerous major urban areas. • Rampant corruption, which plagues many Asian governments. • Aging population can have a direct influence on the continuous economic development of Asian countries in terms of such as, but not limited to, declining labor force, change of consumption patterns, strain on public finances and so on. • US-China competition for power may rock the boat • Rise of militant religion may destabilize • Chinese rise to power was peaceful but having risen, it has not been so peaceful. That may also upset Asian century prospects.
Posted on: Sat, 06 Dec 2014 14:17:58 +0000
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