A promised land of hope and prosperity

Comment | Shen Dingli

Increasingly, the Asia-Pacific has become a focal point for the world economy and international politics. In terms of global economic output, this area generates half of the world's wealth, so no one can afford to ignore the opportunities. The broadly defined Asia-Pacific has consisted of the top three economies in the world and three out of five BRICS nations. The rising Asia-Pacific promises to be a land of hope and co-prosperity.

The shift in the center of the world economy from the transatlantic to the transpacific region conforms with Asia's economic rise, principally due to globalization, allowing freer flow of capital, technology and management skills. Global outsourcing brings markets together and rebalances the world economy, eventually transforming the international structure in a peaceful manner.