[WKF 2019] Future of Asia│Oliver Tonby, Wonsik Choi, Stanley Li, Reuben Lai, Doranda Doo
One of the most dramatic developments of the past 30 years has been emerging Asia’s soaring consumption and its integration into global flows of trade, capital, talent, and innovation. The question is no longer how quickly Asia will rise; it is how Asia will lead. McKinsey & Company forecasts that this shift in economic gravity offers an upside of vast scale to the global economy, to Asian countries, to companies and to consumers. The diverse countries of Asia have maintained an upward trajectory ? not only in output but in a wide range of indicators from trade and top-performing firms to internet users and consumption. Companies and national economies in Asia are changing the nature of trade and globalization, changing competitive dynamics of companies worldwide, shaping the future of digital innovation and introducing new consumers that will fuel spending growth worldwide.In McKinsey & Company’s “Future of Asia” session, experts and executives discuss the fundamental changes and innovations required by both public and private actors in order to compete in Asia’s new value chain, its dynamic ecosystems and to serve its new rising consumers.-The rise of the “Asian Century” in the global economy-How Asia will change the nature of trade and globalization-How Asian players will change competitive dynamics worldwide-How Asia will shape the future of digital innovation.
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