Ng Adam Boon Ka; Ginanjar Dewandaru (Asian Institute of Chartered Bankers, 2017)
At a time where the global economy is facing ‘secular stagnation’ due to a decline in investments and an ageing population, the emerging economies are among the fastest growing markets that could potentially offer viable solutions to global economic growth and sustainable development in the 21st century. Over the next three decades, global economic power will continue to shift from developed economies in North America, Western Europe and Japan to existing and newly emerging economies. The economies of Mexico and Indonesia are projected to be larger than those of the UK and France by 2030 (in purchasing power parity terms) while Turkey’s may become larger than Italy’s. Malaysia has great potential for long-term sustainable growth while Nigeria could be the fast-growing large economy by 2050 (PwC 2015).
