The Asian Century, two years on: A look back
When Asia’s economy officially became larger than any other region in the world, it signaled a new era of Asian leadership. Globalization fueled Asia’s integration into global flows of trade, capital, talent, technology, and innovation, and by 2019, 210 of the world’s 500 biggest companies by revenue were Asian, and 119 of the world’s 330 unicorns were Asian. The region’s immense growth revealed that the future of Asia was no longer just a story about China—the Asian Century would be defined by the entire region.
In the absence of a leading voice who could speak on the Asian Century, we developed a publishing and research initiative not to explore how quickly Asia would rise, but how Asia will lead in the decades ahead. We take a look back at all that has changed in the last two years, and how our insights have helped business leaders and decision makers navigate the rapidly-changing landscape in Asia and the world.
Globally, economists declare the start of the Asian Century
With only an estimated $1 trillion of middle-class consumption growth between 2015 and 2030 coming from Western economies, the Asian Century had begun and there was no turning back. In light of this, McKinsey launches the Future of Asia research initiative to share bold perspectives on how leaders and businesses should navigate in this new era.
Asia’s future is now
Our podcast channel explores the future of Asia
Over the course of the research initiative, Future of Asia’s podcast would go on to look at the most pressing issues and industry trends facing decisionmakers in the Asian Century.
The Asian Century has arrived
In our premiere episode, scholars Parag Khanna and James Crabtree join McKinsey senior partner Oliver Tonby to discuss how Asian economies will take shape in the future.
Forging the path to a more interconnected world
As trade tensions between the US and China escalate, Future of Asia examines how Asia could shape the way globalization unfolds in the years to come.
Asian flows and networks are defining the next phase of globalization
Asia is increasingly the center of the world economy. By 2040, the region could account for more than half of global GDP and about 40 percent of global consumption.
A shift in the world’s center of gravity
At Davos 2020, discussions on the global economy’s trajectory highlight the deceleration of GDP growth in the West, and make clear that the world’s center of gravity will shift to Asia in the 2020s.
ArticleCorporate Asia: A capital paradox
The Asian Century has begun. Asia is the world’s largest regional economy and, as its economies integrate further, it has the potential to fuel and shape the next phase of globalization.
A crisis to define generations
Three months after a report of a cluster of “pneumonia” in Wuhan, Hubei province in China, WHO declares the coronavirus outbreak as a global pandemic.
McKinsey responds by examining how COVID-19 will create the “next normal” across markets and industries.
India’s turning point: An economic agenda to spur growth and jobs
India needs to create at least 90 million new nonfarm jobs to absorb the 60 million new workers who will enter the workforce
Technology transformations could add $2.8 trillion to Indonesia’s economy by 2040
Parity in a pandemic
As the virus increases the burden of unpaid care, women’s employment around the world drops faster than average and more steeply than men’s unemployment. Future of Asia—along with UN Women Asia-Pacific Regional Director Mohammad Naciri and McKinsey senior partner Lareina Yee—examines the magnitude of inequality in Asia and how organizations can improve social and economic outcomes for women to help boost economic growth.
Parity in a Pandemic
How businesses can counter the gender regressive effects of COVID-19
Growth in a post-pandemic world
The pandemic caused the deepest economic disruption since World War II, and though the way ahead is uncertain, Future of Asia research finds there is potential for growth and innovation across industries and sectors in the wake of the crisis.
How Asia can boost growth through technological leapfrogging
Future of Asia celebrates one year of bold thought leadership
Asia reports the hottest year to date since global records began
The Earth’s climate is changing after more than 10,000 years of relative stability, and Asia could be more hard-hit than any other region in the world. Though businesses are focused on pandemic recovery, we must not lose sight of climate change in the face of COVID-19.
Key climate hazards facing Asia
“Asia is on the front line of climate change. Absent adaption and mitigation the climate hazards that the region faces in the future—from heat waves to more frequent typhoons, to flooding—are likely to be either more severe or more intense than in many parts of the world.”
Asia’s climate change imperative
As temperatures in Asia heat up, Future of Asia shares an overview of the region’s climate landscape. Shortly after we release our climate report preview, the UN Framework Convention on Climate Change Committee shares our research.
The future of sustainability
In this Future of Asia podcast episode, we examine why confronting climate change and committing to sustainability are vital for our generation.
Climate risk and response in Asia
Five years after the Paris Agreement, the UN hosts the Climate Ambition Summit 2020 virtually. With leaders setting ambitious agendas for global climate change action, Future of Asia’s discussion paper lays out the opportunities Asia has to lead global adaptation and mitigation efforts.
The future of the CEO role
The World Knowledge Forum takes place in Korea, where McKinsey senior partners Wonsik Choi, Oliver Tonby, and Kevin Sneader address delegates on the role of technology in Asia’s economies, and how the pandemic has changed the very nature and impact of the CEO role in organizations.
A new era of leadership
As the “next normal” becomes the world’s new reality, Singapore Prime Minister Lee Hsien Loong addresses the changing roles of leaders both in Asia and globally.
The end of a whirlwind year
Leaders reflect on 2020, talk about their key observations, and share their perspectives on what 2021 will bring.
Driving the conversation on mental health at the workplace
With the pandemic worsening preexisting workplace mental health challenges, Future of Asia identifies five core principles that can help leaders create—and sustain—a more mentally healthy workplace.
A new kind of Asian consumer
With Asian consumers expected to account for half of global consumption growth in the next decade, Future of Asia examines the rise of a new breed of Asian consumer propelling this growth.
Where we stand today, two years into the Asian Century
