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Asian Drivers

Why are the Asian Drivers Important?

China and India are likely to have a significant impact on the global economy for four major reasons:

  • as a consequence of their growing competitiveness, their size and their rapid growth. – the “large country effect”
  • as a result of their conduct as investors, buyers and in institutions of global governance
  • because low-income economies who previously saw their future as lying in promoting North-South links, are now increasingly looking towards Asia and/or to their regions as sources of future dynamism
  • because they may provide more policy space for low-income economies, previously constrained by a global environment imposing a “one-best-way” Washington Consensus agenda of rapid liberalisation and integration into the global economy.

Who are the Asian Drivers?