Introduction
Western nations are slowly losing ground on global dominance to rising Asian countries. Compared to a few decades ago when the U.S and U.K were the greatest forces sweeping the world, the resurgence of Asia has catapulted the world into a changing order in the 21 st century. After enduring long periods of economic decline after the World Wars, Asian countries embarked on a journey towards economic recovery and were able to growth their wealth to leaved achieved in the west and establish themselves as major world controlling economies ( Strayer & Nelson, 123) . One particular Asian country that has had a profound effect in world matters is China. Their current economic strength gives them massive influence on global geopolitical and diplomatic assertiveness, which few western nations can match. The massive population in the region, coupled with the rapidly growing regional economy makes Asia a center of growth for the world economy. The paper will study the reemergence of Asia, particularly China and India, and make an argument on the changing world order in the twenty-first century.
Discussion
Asia was once a dominant force in global economy before it was surpassed by the West. Between the 1500 and 1800, it dominated the world in terms of production, thriving global trade and wealth. In the 15 th century, the Middle East and East Asia regions were more urbanized than Europe. Their cities were densely populated, i.e. both Beijing and Istanbul had populations of over 240,000 individuals compared to Paris and London which had about 100,000 and 120,000 individuals. Additionally, the most impressive cities were found in Asia, i.e. nine out of the ten largest cities were found in China. Compared to Asia, Europe was an unimpressive backwater of small countries and kingdoms. When it came to global trade, Asia was at the center and the Europeans spent considerably large amounts of time attempting to find a route to Asia. The region excelled in the production of wood, spices, porcelain and cotton that was of very high quality. However, that was soon to change after the collapse of most Asian empires and the subsequent industrial revolution in the West. Western countries overtook Asia in terms of wealth and influence, and rose to become a dominant force in global matters.
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Recent statistics indicate that Asia is quickly regaining its ground in terms of global dominance compared to the West. Projections by the World Bank show that the national economy of China’s will overtake that of the United States in a few years to come. The statistics highlight China’s rising spending in key sectors such as military spending, trade and shares of global GDP. Such kind of growth implies that China will be the new world economic superpower, a position currently held by the U.S. About three decades ago, China’s economy was similar to that of the U.S. in the 1900. However, according to the most recent survey, China accounts for 14.6% of global GDP, 10 points less than that of U.S that is 24.3% (Daniel, 21). Estimates by the World Bank indicate that China’s world GDP will hit 28% by the year 2030. Currently, countries such as France, Germany and Russia can hardly compare with the economic status of China. Notably, it seems that the only country able to compete with China is the United States. The speed at which China is gaining prominence over western nations is alarming. Within thirty years, China has grown its GDP from 2% to the current 14.6% (Ian, 7). Hence, it will not be a surprise to see it acquire even a larger share of the world GDP in a few years to come.
The rise of Asia as a continent is highlighted by its current prominence in the global economic activity. For instance, Ana (48) noted that back in the 1908s, Europe accounted for 32% of global economic activity while the whole of Asia accounted for only 20%. However, those positions were reversed by the year 2012, with countries such as China, South Korea, Indonesia, India and Japan registering the substantially higher economic growth (Ana, 51). The reversal in economic status is attributed to the high dependence of western countries on the services sector while most Asian counties embrace a mixed system. The downward trajectory of the western nations is also attributed to rising oil prices and rising interest rates. Therefore, Asia has overtaken Europe in terms of global economic activity.
Over the last 20 years, China and India have registered a standard growth rate of 6-7% per year. The nominal size of their economy doubles every 10 years. Currently, their economies are four time larger that they were during the 1998 Asia financial crisis. With a combined population of nearly 2.7 billion and a mass nearly the size of Europe and U.S. together, those two Asian countries have a population that is three times larger (Inforgram, 5). With a combined GDP of about $33 trillion, the economic output on purchasing power parity is 50 percent larger than either the European Union or the United States (Kerr, 7). Both India and China enjoy high stakes in the global high value-added exports since numerous foreign companies have set foot in India and China. By bringing their investments to the two Asian tigers, the foreign investors have brought in technological know-how as well as capital to Asia. Hence, Western countries are highly dependent on the favorable business environment found in Asia countries, especially India and China (Wendell, 35). As a result of the technological know-how brought in by the foreign investors, Asian countries are able to produce their own sophisticated goods that compete with the western products. According to recent data, both India and China account for 8% of the world’s service trade (Kerr, 11). Therefore, both India and China have registered high economic growth in terms of economic output on purchasing power parity compared to western nations.
Analysis of the education levels and number of publication by region highlights a changing world order in the 21 st century. Asia is quickly closing on the gap set by Western Nations. Despite lower spending on public education by Asia (about 3% of GDP) compared to the West (around 6% of GDP), numerous families (about 80 to 90%) are open to the idea of complementing the education system with private tuition (Ian 11). Additionally, Asia has a higher proportion of graduates from STEM disciplines (Science, Technology, Engineering and Mathematics). For example, India produces around 2.6 million STEM graduates annually and China 4.7 million, compared to about 560,000 STEM graduate produced by either the U.S. or Russia (Kerr, 13). There is also massive educational research being conducted in Asia as demonstrated by the high number of cited scientific publication. Compared to the previous 9 th and 13 th position held by China and India in term of quantity and quality of research efforts respectively, the two countries now hold the 2 nd and 5 th positions (Kerr, 14). Therefore, the education levels and number of publications from Asia has risen significantly, in some regions, the standards are higher compared to some Western countries.
Growth in political mileage and influence in region previously dominated by Western States, particularly the U.S., in another indication of the changing world order in the 21 st century. For instance, a few years ago, the U.S was a force to be reckoned with in the large Middle East region. However, the situation has quickly reversed and Asian states now play a greater role in Middle East affairs. Now more than ever, Asian countries are using their economic ties to create stronger political links (National Intelligence Council, 96). In some cases, Asian countries are using their strong economic ties to leverage for deals with Western Nations. For instance, sometimes ago, China “arm-twisted” the United States into abandoning its plan of supplying arms to its competitor neighboring state, Taiwan, by threatening them with economic sanctions and destruction of their bilateral trade agreements (Ishaan 12). Therefore, Asian countries, particularly China, have larger influence over world political matters due to their economic ties.
Conclusion
Asia has successfully re-emerged itself as a strong competitor in the global economic, intellectual, military and political affairs. Asian economies of China and India have greatly improved their economic status and are considered by many as investment hubs for the world’s high value-added exports. Asia is now ahead of Europe in terms of global economic output. Political influence, literacy levels and technological know-how in Asia have also greatly improved. Projections by the World Bank, predict a growth of China economy from the current 14.9% to 28% of the world’s GDP.
References
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