There’s a lot of interest. even anxiety, about the role China and the rest of Asia will play (and how soon it will happen) as the world emerges from the GFC.
May I recommend a book for all people who have an interest in Asia – ‘The Next Asia’, by Stephen Roach? Roach is the former chief global economist for investment bank Morgan Stanley, and now chairman of Morgan Stanley Asia.
Roach is a renowned economic forecaster and sought-after commentator so I thought this might be a bit heavygoing; however, ‘The Next Asia’ can be read quickly in a weekend if you are a good speed reader and understand the basics of how economies function. If you are into macro-economics (which I am not) I am sure you will absorb it one insightful chapter at a time.
The book is an invaluable read for anyone who is China watching or attempting to anticipate how Asia will re-invent itself post recession.
Roach challenges the widespread assumption that the title of ‘the engine room of the global economy’ will now naturally pass from the US to China. For that to happen, says Roach, there needs to be a major and tricky rebalancing of China’s economy from export and investment led growth to consumer expenditure within. Reviews abound on the web and as Newsweek’ s Rana Foroohar has written, “The warning this time: while Asia is rising, the coming power shift from West to East won’t be as easy as everyone thinks.”
(Peter Wilkinson is President, Asia Pacific at IPREX Global PR and Communications.IPREX (www.iprex.com) is one of the world’s major corporations of independent public relations and communication firms. Founded in 1983, its 68 partners have 92 offices in North and South America, Europe, the Middle East, and Asia Pacific, with annual revenues of $125m. Its 1,190 professionals provide a comprehensive range of services for some of the world’s most successful companies
