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International Journal of Economics & Management Sciences

The Asian Century: More than just China

Lili Yan Ing1* and Anika Widiana2
1Economist, Economic Research Institute for ASEAN and East Asia (ERIA) and Lecturer at Faculty of Economics, Indonesia 2Lecturer at Prasetiya Mulya Business School Jakarta. Indonesia
Abstract :

This paper highlights the important role of the four Emerging East Asian Economies (EEA-4), namely Indonesia, Malaysia, Thailand and Vietnam in Asia. As China’s growth pattern is changing as it moves up the income ladder, and is likely to rely more on consumption and less on investment and exports, and more on services and less on industry, these offer opportunities for EEA economies, particularly the EEA-4 to expand their economies through trade and investment. The EEA-4 could tap these opportunities as they have 3Ds: Durable macroeconomic, Domestic consumption and Demographic dividend. Nonetheless, they still face challenges of 3Cs: Credit, Competition and innovation and Confronting inequality. These economies should focus on how to optimize the growth potential of high value added sectors which will be beneficial for income growth and long-term prosperity. They have to be able to tap into its large pool of labor, while progressively moving up the value chain in the manufacturing and services sectors. 

Keywords :
Asian economies; Growth; Trade; Investment; Demographic dividend; Inequality

Date Deposited : 13 May 2016 21:25

Last Modified : 16 May 2016 19:25

Official URL: http://www.omicsonline.com/

Volume 3, Number 3, October 2014 , ISSN 2162-6359

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