The Role of Asia in a Changing World
Saturday October 13, 2012 4:15 p.m. – 5:15 p.m.
Tokyo International Forum Hall C
Professor of Economics,
Professor, University of California-Berkeley, United States
CEO, ICICI Bank, India
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Over the past decades, Asia has grown faster than any other region and by some estimates contributed more than half to global growth in the last few years. While Asia's growth outlook remains bright, the global landscape is rapidly changing, with difficulties in Europe and the United States likely to constrain growth and cross-border flows. At the same time, Asia is evolving with several economies facing pressures from population aging and the need to transition to higher value-added industries. Against this background, Asian economies are in search of new growth model that is more inclusive, driven by domestic demand, and dependent on closer regional ties. As the global economy is managing the difficult transitions, Asia will also have an important role to play in supporting global growth and influencing global economic policies. The seminar will bring together economic leaders from the region and global institutions to discuss the challenges facing Asia to sustain growth forward in the next decade and beyond as well as its new role in this changing world.
Key questions to be addressed include:
- Can Asia become rich before it grows old and continue to support global growth? When and where will the demographic growth slowdown begin, and will it be gradual or abrupt? How can Asia be better prepared to cope with demographic changes?
- Can Asia avoid the "Middle Income Trap" and continue to support global growth? Can Asian economies move up the value-added production ladder while rebalancing growth toward domestic and regional demand?
- How can Asia contribute to a more stable regional and global economy? How can Asia advance regional economic and financial integration to better cope with global shocks? How effective are regional financial safety nets in mitigating risks to the region and beyond?
- What will be the role of Asia in a changing world? What challenges does Asia face in the context of the current "global shift"?