Carl-Ludwig Thiele: Closing remarks - Focus Session by the European Central Bank and Deutsche Bundesbank Closing remarks by Mr Carl-Ludwig Thiele, Member of the Executive Board of the Deutsche Bundesbank, at the Focus Session by the European Central Bank and Deutsche Bundesbank, Frankfurt am Main, 28 March 2017.
In fact, Asia accounted for over half of world GDP for centuries, and only started to lag behind in the 20th century. In a way, Asia is now restoring the old balance of power. We saw the rise of Japan in the 1960s and 70s, and the rise of Korea, Singapore, Hong Kong and Taiwan in the 1980s and 90s.