The Asian century is set to begin

The region was the envy of Europe in 17th century and the world is about to turn full circle

Economists, political scientists and emerging market pundits have been talking for decades about the coming of the Asian Age, which will supposedly mark an inflection point when the continent becomes the new centre of the world.

Asia is already home to more than half the world’s population. Of the world’s 30 largest cities, 21 are in Asia, according to UN data. By next year, Asia will also become home to half of the world’s middle class, defined as those living in households with daily per capita incomes of between $10 and $100 at 2005 purchasing power parity (PPP).

Since 2007, Asians have been buying more cars and trucks than people in any other region — by about 2030 they will be buying as many vehicles as the rest of the world combined, according to LMC Automotive. 

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