After a gap of 200 years, Asian economies are again larger than the rest of the world's combined. As India and China resolve their border dispute, Asia is providing the multilateral alternative to a world divided by values, and no longer by ideology. The phrase 'Asian Century' is said to have arisen in the 1988 meeting between Chinese leader Deng Xiaoping and former Indian Prime Minister Rajiv Gandhi, re-establishing relations after the India-China border conflict in 1962. It responds to the re-emergence of the two countries, leveraging size and technological competence to shape a new order that reflects their civilisational values which are distinct from those of the West. The travails of the West, for example, stagnating incomes of the middle class and also climate change, confirm that the global division is now based on values, as has been the case throughout civilisation. Even notions of a balance of power are a western construct, as the Asian giants have by and large lived in peace across the ages. China, in 2013, after attaining 15% of global wealth, announced the multilateral Belt and Road Initiative (BRI) and in 2014, launched the Asian Infrastructure Investment Bank, challenging the global governance paradigm. In… Read full this story
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