The report forecasts that  BIS central bankers’ speeches  1  Asia’s GDP would comprise half of global GDP by 2050, which is about double the current share, on the condition that Asian economies maintain their momentum. However, the rise of Asia is by no means preordained. The path will not be easy and requires more than just doing more of the same.
The report warns of another future if the region cannot tackle its daunting policy, institutional, and governance challenges in a timely manner. In this pessimistic scenario, the region could fall into a Middle Income Trap and become stuck with low growth rates.