As evidenced in the recent increase in direct investment in the non-manufacturing sector, Asia is now recognized not only as “the factory of the world,” but is also gaining prominence as the world’s biggest “consumer base.” Middle-income trap The question here is whether Asia can maintain its position as the world growth center in the future.
According to long-term forecasts by international organizations and private-sector economists, Asia is expected to continue to enjoy relatively high growth and thus its share in the global GDP will increase steadily.