Advertisements
//
you're reading...
Finance & Economy

An Asian century is highly unlikely


Asian CenturyThe 19th century was the European century, the 20th century was the American century and the 21st century is believed to be an Asian century.

While this century has 86 more years to go, Asia is unlikely to be the sole dominant political and cultural power. 

Out of the big Asian players, none has arisen, nor is likely to rise, as the dominant power and the sum of all Asian countries isn’t likely to have the capacity to dominate the world.

Busy with domestic issues

First things first, the big Asian players, like China, India, Japan and Korea are busy with their own domestic issues.

The populations of China and India come with their own social issues requiring tight control to prevent social chaos. Japan and Korea are busy with their economic agendas, ensuring that they get through the global crisis with flying colors. Korea with its unification plan needs all the political strength to focus on its success.

Second, the second-tier Asian players, like Indonesia and other Southeast Asian countries do not have enough momentum to propel them to political and cultural megastardom. Either individually or as a group, Southeast Asian countries are climbing uphill due to limited experience and poverty, excluding Singapore.

Third, G7 countries (US, UK, France, Germany, Italy, Canada and Japan) are still leading the world with their soft power, despite their economies being in a big mess and their net wealth having dwindled. With their combined experience of more than a millennium, G7 countries are maintaining the status quo of world political and cultural power.

Fourth, the US, despite being a “frugal superpower”, continues playing the role of “the world police” even though they need to borrow funds from China, the world’s “lending bank”.

The US has shown no sign of stepping down from the high place of the “policing the world” totem pole. Its latest military base in Niger is an attempt of a superpower in a midlife crisis to show its remaining power to the world.

It is extremely interesting to notice that the grandfather of capitalism is now borrowing money from the grandmother of communism. And in the matter of finances, apparently, both countries are a matching pair of gloves, which creates an unprecedented synergistic power.

Despite China’s position as a “bank”, its reluctance to control world domination is another interesting phenomenon.

Fifth, western countries are likely to continuously leading scientifically through various technological innovations, which makes a cliché “marry an engineer, not an artist because an engineer can always find jobs while an artist is likely to be starving” a reality.

For instance, Germany, the “geeky techie” nation, is relatively stable in the midst of global crisis.

Sixth, economically, Asian countries are likely to maintain their supportive role as ideal regions for offshore outsourcing.

However, due to rising costs of doing business in Asia, western countries are likely to limit offshore outsourcing. Many businesses have rebuilt manufacturing plants in their own countries.

Seventh, Indonesia with its ongoing issues as a young democracy is unlikely to rise to the occasion. It is yet to earn respect from the world, due to its inability to manage a mid-sized country whose population explosion has gone through the roof with 3.5 million to 4 million babies born every year and a land area is merely 2.67 times the size of Texas.

Poor internal management and mediocre international image make it an uphill battle.

Despite its national GDP, GDP per capita and positive economic growth of 6.3 percent per year, Indonesia is a Third World country in terms of infrastructure, legal and taxation provisions, political performance and educational system.

Eighth, the overall world disequilibrium has shown how fragile power is as the world today is much more susceptible to shocks and the global risk landscape has been dominated by sharp discontinuities, as posited by World Economic Forum economist Thierry Malleret.

The world has simply changed so rapidly due to these four dominant forces: interdependence, complexity, velocity and transparency.

At last, the unlikeness of Asia to dominate this century doesn’t mean it will be led by a unipolar superpower USA anymore. The century is likely to be led collectively by all strong state and non-state agents, including individuals.

The world has finally come to its most equal form: Anyone with hard and soft power has the potential to dominate the world politically, socially, culturally, economically and philanthropically.

The “wisdom of the crowd” has reached its tipping point. And the world isn’t going back to the old ways of doing business anymore.

The United Nations and NGOs may attempt to steer the world into becoming a more peaceful place, yet they are likely unable to fill the global governance vacuum.

The unlikely Asian of this century is both a pro and a con, as long as you know what to do and which decisions to make.

Jennie S Bev is an author and columnist. She is also the CEO of a digital venture in Santa Clara. Her writings are archived at jenniesbev.org
 
 
Source: The Jakarta Post – “An unlikely Asian century”
 
Advertisements

About Political Atheist

Living in South East Asia (Vietnam & Cambodia). At the ending/starting point of the more than 1000 year old SIlk Road.

Discussion

3 thoughts on “An Asian century is highly unlikely

  1. “It is extremely interesting to notice that the grandfather of capitalism is now borrowing money from the grandmother of communism. And in the matter of finances, apparently, both countries are a matching pair of gloves, which creates an unprecedented synergistic power”

    Certainly both countries are dependent on each other right now. China needs the American market and the US needs China to finance its deficit spending. However, this hardly sounds like an unprecedented synergistic power. What it is is a dysfunctional relationship where both sides have deep structural economic problems that they are using the other to mask. The balance of trade issues and the fact that it is so out of balance are what created the economic meltdown in 2008, knowing this it is hard to describe the relationship as some great power unless you are referring to the massive structural inequalities that are once again building up as a result of this relationship. The only reason to be impressed by this relationship would be because it is so dangerous to either party.

    Like

    Posted by sickunclesam | March 10, 2013, 11:12 am
  2. Asia’s main limitation is perhaps an inability to co-operate across cultures. the 18th, 19th, and 20th centuries were the European and American centuries because these countries could work with others.

    Like

    Posted by redearthbluesky | March 31, 2013, 6:37 pm

Trackbacks/Pingbacks

  1. Pingback: Australia’s Asian Century talk is empty; language funding falls short | Craig Hill - April 17, 2013

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisements

China Mail Daily

China Mail Daily is not affiliated in any way with The China Daily or the government of the People’s Republic of China.

Enter your email address to receive an email each time an article is published, or join our RSS feed. 100% FREE.

Want to write for China Mail Daily?

Read “Contributor Guidelines” above to join our team of 76 contributors. Write news or opinion about issues in China, or post photos and video. Promote your own site.

Recent Posts

China Mail Daily Stories Have Been Featured In:

Advertisements
%d bloggers like this: