UNESCAP: Growing Together
Growing Together articulates a number of proposals that can help the region exploit its huge untapped potential for regional economic integration.
Though the economic rise of Asia and the Pacific may seem to be a modern phenomenon, it is in fact a re-emergence. The Asia-Pacific region accounted for 56 per cent of global gross domestic product (GDP) up to 1820, but its share declined to 16 per cent by 1950.
Subsequently, it started to regain its position in the world economy, first through Japan’s rapid growth, later through the rise of East and South-East Asia’s newly industrializing economies, and more recently by the rise of its two most populous countries, China and India. As a result of this dynamism, long-term projections suggest that the region’s share in the global economy could exceed 50 per cent by 2050, as it was until 200 years ago.