Is the future truly Asian?
But what is remarkable is that while the region grew from trading with the rest of the world, intra-regional trade has grown faster, to 60 per cent of total trade, with intra-regional foreign direct investment
(FDI) at 66 per cent of total inward FDI, and 74 per cent of air traffic.
Much of Asian growth will come from rapid urbanisation, amid growing connectivity with each other.
The top 20 cities in Asia will be mega conglomerates that are among the largest cities in the world with the fastest-growing incomes. on any single player preferring to network connectivity to other cities and centres of activity and creativity.
As Khanna puts it: “The phrase ‘China-led Asia’ is thus no more acceptable to most Asians than the notion of a ‘US-led West’ is to Europeans.”
But are such rosy growth prospects in Asia predestined?
Major bumps
Based on the trajectory of demographic growth of half the world’s young population moving into middle income, the logical answer appears to be yes.
Without adequate social safety nets, healthcare and social security, dissatisfaction over youth unemployment, access to housing and deafness to problems by bureaucracies has erupted in protests everywhere.
Third, geopolitical rivalry has meant that there will be tensions between diverse Asia over territorial, cultural and religious differences that can rapidly escalate into conflict.
The region is beginning to spend more on armaments and defence, instead of focusing on alleviating poverty and addressing the common threat of climate change.
Two generational leaders from the West have approached these threats from very different angles.
Addressing the UN, Swedish schoolgirl Greta Thunberg dramatically shamed the older generation for its lack of action on climate change.
“People are suffering. People are dying. Entire ecosystems are collapsing. We are at the beginning of a mass extinction and all you can talk about is money and fairy tales of eternal economic growth. How dare you,” she said.
The young are idealistically appealing for unity in action against a common fate.
In contrast, in addressing the UN Security Council, US President Donald Trump was arguing the case for patriotism as a solution to global issues.
Climate change was not mentioned at all.
Since the older generation created most of the carbon emissions in the first place, no wonder the young are asking why they are inheriting all the problems that the old deny.
This then is the difference in passion between generations.
Globalisation occurred because of increasing flows of trade, finance, data and people.
That is not stoppable by patriotprotected borders.
A multi-polar Asia within a multipolar world means that even America First, however strong, will have to work with everyone, despite differences in worldviews.
All patriots will have to remember that it is the richness of diversity that keeps the world in balance.