Asia to produce more than half of global output by 2050
Asia's share of global economic output is set to reach 55% by 2050, according to the Credit Suisse Research Institute's latest 'Asia in Transition' report.
The report says Asia's equity and corporate bond markets are on course to assume close to a 30% global share by 2030.
In the past 30 years, Asia, not counting Japan, has contributed 19 trillion USD to global GDP. The region's share of global economic ouput has increased from 14% in 1988 to 36%. However, Asia is facing an aging population, credit issues, and environmental degradation, the report said.