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Over the past 30 years, Asia has seen the growth of some of the world’s largest companies and substantially increased its contribution to global flows of trade, capital, talent and innovation. Twenty years ago, the region accounted for just under one-third of the global gross domestic product. By 2040, it is expected to exceed 50 percent. This shows just how far and fast the region has grown over the last few decades.
Although Asia is one of the most important markets for international companies, an interesting development is the region’s strengthening trade ties and cooperation among Asian markets. Today 52 percent of Asian trade is intra-regional, pointing towards a new trend of firms building self-contained regional supply chains to serve Asian markets.
Here are some key numbers indicating that it truly is the Asian century:
Read more about the region’s impressive growth in this article: Asia’s future is now | McKinsey.
Check out more articles on DKSH’s Insights page.