Asian economies, as defined by Unctad, will be larger than the rest of the world combined in 2020, for the first time since the 19th century
Asia’s recent surge, which began with Japan’s postwar economic surge, represents a return to a historical norm. Asia dominated the world economy for most of human history until the 19th century.
18th century to 20th century…
Then, for three centuries, Asia’s place in the world shrank as western economies took off, powered by what academics refer to as the Scientific Revolution, then the Enlightenment and the Industrial Revolution.