The 21st Century Has Been Called The Asian Century 
The 21st century has been called the ‘Asian Century’. If so, what are the implications for Australia?
The successful and continuous economic development over past four to five decades in Asian region have lead to a defining feature of the 21st century – Rise of Asia in Asian century. The weight of global economy is shifting towards Asia, It has been estimated that by the middle of this century, Asia could account for half of the global output, trade and investment. With the continuous hunger for Made in China, Asia will soon become the world’s largest producer of goods and it will also be the world’s largest consumer for local and imported goods. Asia has become the world’s biggest economic power house, it accounts for more than half of global Gross Domestic Product, and it’s per capita income have risen manifolds to go beyond the worlds average. This continuous transformation across Asia is not only unstoppable, it is gathering pace. This rise has changed the economic and strategic environment in Australia. The 21st century is still young and has been called as Asian century, and is an Australian opportunity. Asia is the most populous continent and holds the highest percentage of wealthy middle class, creating new opportunities and demanding a diverse range of goods and services.
Over the past century, Australia’s trade with Asia has risen dramatically; this is not limiting to economic gains. Australia has already invested in the building stronger relationship through educational, cultural and people to people links. To further take advantage of Asian century, Australia must put effort as in whole; this includes unions, businesses, schools, and governments at both state and federal level. Australia will need to continue to invest in learning more about Asia’s vast and diverse region and take full advantage. This cannot be achieved over night; Australians need to engage in conversations from micro to macro level, this must include a detailed planning and
The successful and continuous economic development over past four to five decades in Asian region have lead to a defining feature of the 21st century – Rise of Asia in Asian century. The weight of global economy is shifting towards Asia, It has been estimated that by the middle of this century, Asia could account for half of the global output, trade and investment. With the continuous hunger for Made in China, Asia will soon become the world’s largest producer of goods and it will also be the world’s largest consumer for local and imported goods. Asia has become the world’s biggest economic power house, it accounts for more than half of global Gross Domestic Product, and it’s per capita income have risen manifolds to go beyond the worlds average. This continuous transformation across Asia is not only unstoppable, it is gathering pace. This rise has changed the economic and strategic environment in Australia. The 21st century is still young and has been called as Asian century, and is an Australian opportunity. Asia is the most populous continent and holds the highest percentage of wealthy middle class, creating new opportunities and demanding a diverse range of goods and services.
Over the past century, Australia’s trade with Asia has risen dramatically; this is not limiting to economic gains. Australia has already invested in the building stronger relationship through educational, cultural and people to people links. To further take advantage of Asian century, Australia must put effort as in whole; this includes unions, businesses, schools, and governments at both state and federal level. Australia will need to continue to invest in learning more about Asia’s vast and diverse region and take full advantage. This cannot be achieved over night; Australians need to engage in conversations from micro to macro level, this must include a detailed planning and