ASEAN, PRC, and India: The Great Transformation

Abstract

Asia’s remarkable economic performance and transformation since the 1960s have shifted the centerof global economic activities toward Asia, in particular the Association of Southeast Asian Nations(ASEAN), the People’s Republic of China (PRC), and India (collectively known as ACI).While these emerging Asian giants do not form any specific institutional grouping, they are verylarge economies and markets. These dynamic developing economies share common boundaries,opportunities, and challenges. Their trade, investment, production, and infrastructure are alreadysignificantly integrated and will become more so in the coming decades.This book presents the key messages of the study by the Asian Development Bank and the AsianDevelopment Bank Institute on the prospects and challenges for growth and transformation of theregion’s major and rapidly growing emerging economies to 2030. The book examines the drivers ofgrowth and development in the ACI economies and the factors that will affect the quality of thatdevelopment. It also explores links among the ACI economies and how these may shape regionaland global competition and cooperation.The key message is that the ACI economies’ overarching development goal should be to enhance thequality of life of their citizens. The ACI economies can drive a generation of economic progress and transformation with the potential to lift the quality of life in Asia and around the world.