Asia in midst of historic transformation; Per capita income could rise sixfold by 2050 to reach European levels today
May 4th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Asia is in the midst of a truly historic transformation, according to the Asian Development Bank (ADB). If it continues to grow on its recent trajectory, it could, by 2050, account for more than half of global Gross Domestic Product (GDP), trade and investment, and enjoy widespread affluence. Its per capita income could rise sixfold to reach the global average and be similar to European levels today (though Europe and North America will remain much richer in per capita terms).