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.
