Economic gravity shifting from West to East: DBS

The world is tilting in Asia’s favor, thanks to China.

Nobody thought the region would be a gamechanger prior to the 2008 global financial crisis but Asia is now leading the biggest structural change in global economics, at a rate making it difficult for a lot of other regions to keep up.

China’s economy is now as large as the US, and along with other countries in the region, has far surpassed demand creation in the biggest economy out west.

According to DBS, despite a slowdown in growth rates across the region, Asia will still “add a Germany” to the worldmap every 3.5 years. At this rate, Asia will add three Eurozones in a few years’ time.

The planned internationalisation of the RMB is also one threat to the dollar, and already China is the world’s largest trader.

View more of the report here.