Some of these factors, such as large populations with fast growing incomes and helped by urbanisation, have been recognised for some time.
It is no secret that Asia on the whole managed the Covid-19 pandemic much better than most western countries. Owing to much less disruption, Asia’s already rising relative importance in the global economy has therefore increased further.
Beyond the one-off impact of the pandemic, there are some more powerful underlying drivers of Asia’s rising economic contribution and the ‘great eastward shift’.
