1.        React from the possibility of reigning Asia in the world.

2.       The economic scenario in Asia will rule the humanity.  How?

3.       If this will happen what will be the impact of this circumstances to Asian countries like Philippines?

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The Asian Century refers to the dominant role that Asia is expected to play in the 21st century due to its growing economy and demographic trends. The concept of the Asian Century gained credence following the rapid economic growth of China and India since the 1980s, which propelled both of them to the ranks of the world's largest economy. 

Asia, home to over half the world’s population, is soon set to house half of the globe’s middle class. Before, companies mainly used the continent as a hub to build things cheaply and then resell them elsewhere. Now corporations are doing their utmost to boost revenues in the region as income and living standards rise, so too does demand for goods, such as luxury goods and automobiles. 

The economy of East Asia is one of the most successful regional economies of the world. The changes that turned the area into the economic power began with the Meiji Restoration in the late 19th century, when Japan rapidly transformed into the only industrial power outside Europe and the United States. The notion of the Asian Century assumes that Asian economies can maintain their momentum for another 40 years, adapt to shifting global economic and technological environment, and continually recreate comparative advantages. In this scenario, according to 2011 modelling by the Asian Development Bank Asia's GDP would increase from $17 trillion in 2010 to $174 trillion in 2050, or half of global GDP. 

Asia is not a united continent.  It is composed of diverse countries with diverse historical and cultural background.  In the decades of the 1990s and 2000s, Asia was projected to be on the road to economic integration. The idea of having one integrated Asian economy is being subverted by the ambitions of great powers within and outside the region. They sponsor programs that compete with one another, which explain the highly confusing picture of trade relations across the region amidst the endless media hypes on surging Asia and Asia’s century. The Philippines would be part of the outgrowing economic opportunities and aid to technological advances wherein we are having partnership with different Asian countries to have sustainable and innovative yet competitive country especially through trading.  

A: The possibility of Asia taking over the 21^st century is not impossible. In fact, it is already being proven by Asian superpowers today. The main factor in this being a possible is the economic contribution of Asia in the global economy. Western enterprises’ manufacturing lines are located in Asia because its population proves useful in producing goods and services efficiently. Asia is also a technological beast, which also increase economic activity in the continent.  

2. The economic scenario in Asia will rule the humanity.

A: China is the 2^nd largest economy in the world, second only to USA, with a total net worth of 14.172 trillion dollars. Asia is expected to reach a total net worth of 174 trillion dollars by 2050, amassing 52 percent of the world’s GDP. We can see high-rise buildings in all of Asia, a proof of its rich economy. Western countries would find it hard to live day to day if Asian manufactures would suddenly stop distributing goods and services worldwide.

3. If this will happen what will be the impact of this circumstances to Asian countries like Philippines?

A: Philippines is part of the ASEAN Economic Community, so I believe that all of its member countries would be as much affected as our country. As per the ASEAN Economic 2025 Blueprint, the whole ASEAN community is expected to be globally competitive by the year 2025. We are currently working on it and hopefully we can get to where we want to at the scheduled year. Economic activity is what’s pulling the entire continent up to the peak of recognition; and it is not about how it will impact our country, but what our country can do to contribute to the rise of Asia in the global community.

- In my standpoint, I believe that with the current status of the continent and the geographical land mass, the chance of Asia dominating the world is very possible.

Come to think of it, Asia was consider the biggest and mostly inhabited region on planet, approximately 60 percent of the world population are living within the continent, In addition it also have many rich natural resources as well as raw materials. Since the ancient times and even up to this modern day era, China and India was the major economic power of the world, as year passes by the development of Asian economy where doubled which might surpass western economies in the near future. Furthermore, studies shows that in the year 2050, Asia could contribute as much as 52% of the global GDP. Without any doubts as the economy in the regions keeps growing, this 21st century belongs to Asia. 

- According to the Swedish economist Gunnar Myrdal in his 1968 book Asian Drama By the late 1960s, Asia was the poorest continent in the world  it came to income levels, marginal except for its large population. Its social indicators of development, among the worst anywhere, epitomised its underdevelopment. However, couple of decades until then, Asia have undergone a remarkable transition throughout the aspects regarding the economic development of its countries as well as the social standards of its population. Although the development in the countries was unequal, we cant deny the very fact that the Economic growth propel development amongst the nation. Moreover, there are so many driving factors why Asia could rule the world, In instance, the population, the more than half of the global GDP contribution, Infrastructure demand, technological innovations and many other more. The Asia continent was astonishing and developing much greater than anywhere else in the globe.

- Clearly, if this thing happened the effect of it to the Philippines is very positive. Philippines is considered one of the Tiger cubs of Asia, with the ongoing development in the economy, it can be foreseen that the country could achieved long term economic growth in the future. Based on the World Bank Philippines Economic update last October 2019, it was stated that The Philippine economy maintains robust despite growing global challenges and has been expected to rise 5.8 percent in 2019, until strengthening to 6.1 percent and 6.2 percent in 2020 and 2021. Having numerous treats and uncertainty, the country still projected 

to improve towards eliminating deprivation. I believe that the impact of Asian Century would bring prosperity to the Philippines and could foster the economic and social development, as well as various opportunity for its citizen. As the stability of the labor economy is enhance and also the continuous increases in wages, it will result to the success of achieving the reduction of poverty.

1.       React from the possibility of reigning Asia in the world.

The Asia known is the largest continent in the world which it covers  30% of all land on earth. And the populations will growth of the half of the 21^st century  which   the Asia has a largest contribution in the economy  therefore  the China was  placing the 2^nd    largest   economy  it smaller  than the United  States Economy but since the Asia currently Experiencing the largest economy   boom in the world  which the country china’s economy become ahead of the United States due the economy of the continent has nearly doubled since just 2010 therefore the Asia’s economy expected to surpass the economy of the united states by the year 2028 ,  and according to the official Asian Development Bank. The economy expected to reach massive 174 trillion  dollars by 2050 and comprise 52% of the world’s GDP and it seems that the Asia has a potential   dominate by the year of 2050 because  it projected  the most  ground breaking  construction projects mostly  will take place In Asia especially the advancement of technology in Japan  and china and the other countries in Asia that has a big influence  in the culture as well in addition Asia known is rich when it comes to the natural resources. Asia experiencing three transformations economic, social and political as a resulted that Asia became Innovative and their Economic growth is driven by labor , capital and productivity.

 

2.       The economic scenario in Asia will rule the humanity.

It obviously because of the economic power of the Asia countries because of the good performance on their economies  therefore it has a big potential to help other countries 

To improves the economy of other countries to those country needs help to overcome the struggles in their economy. Through contribution by the economic activity that help to rise and save the struggles of those country. 

3.       If this will happen what will be the impact of this circumstances to Asian countries like Philippines?

It has big opportunities  for the country because  of the economic activities that could help to improve our economy through opening of trades, good and services by the diiferent countries and increase the  ob numbers and the level of productivity of the employed because  of opening domestically and internationally and adopting technology as well which as a resulted of globalization.  Because the Philippine will be have global competitive  because of the interaction with other countries that could help because interconnected with them. It helps to lessen the numbers of populations of poverty and hungry or homeless because of the economy improvement that could help,

The possibility that Asia will overtake the rest of the world is no longer a concern. Since Asia is the largest continent, occupying 30% of all the land on earth, and is home to almost 2/3 or 60 percent of everyone on the planet. And based on the video, Asia's economy is expected to hit a whopping $174 trillion by 2050 and make up 52% of world GDP. China, Asia's largest economy, is predicted to overtake the United States' economy in 2028. The human development metric, the index used to calculate living standards, is growing. East Asia, like the European Union and the U.S., will hit .94 or very close to the living conditions of western nations.

2.    The economic scenario in Asia will rule the humanity.

the video shows that China, Asia's largest economy, is predicted to overtake the United States' economy in 2028. Asia's economy is expected to hit a whopping $174 trillion by 2050 and make up 52% of world GDP, according to the official Asian Development Bank.

3.    If this will happen what will be the impact of this circumstances to Asian countries like Philippines?

In general, the effect will be good because it will improve interconnectedness between Asian countries. It would open up markets globally and domestically. As a consequence, free trade deals are welcomed. This removes all sorts of obstacles to the free flow of products, services, people, technology and data. Globalization would further improve every country through connectivity and trade agreements.

- For me, Asia is now one of the fastest-growing economic region. Why? Asian country is now very industrialized and of course good on innovation where people has it’s own creativeness when it comes in different fields. As we can see. Asia has the largest GDP all over the globe because of its resources and agricultures. Asia has it’s strong influenced when it comes in political, economic and cultural. And now, Asia is now the center of having a advanced technology. We cannot deny the fact that Asia is one of the richest region due to the strong economic power.

2. The economic scenario in Asia will rule the humanity.

- We all know that Asia is one of the richest when it comes in natural resources and agriculture. As we can see, we the Asian countries already ruled the humanity for how many years. China and Japan are now the world’s second and third largest economies. India, the rising superstar, is expected to overtake China as the world’s most populous country by 2022. And now, Asia expected to reach the 174 trillioin dollars in 2050. 

3. If this will happen what will be the impact of this circumstances to Asian countries like Philippines?

- It will be good for our country’s economy. Our country is part of the ASEAN where the richest countries are also part of it. The country has been one of Asia’s fastest-growing economies in recent years. This impact is very beneficial for our country. Philippines is rich in natural resources and agriculture where are some of the countries used it to produce their own products. ASEAN contributes to the advancement of the Philippines as a whole. ASEAN is one of the many reasons why the Philippines is still in a good and stable pace and potential investors, businessmen, and its citizens need not worry about the country’s stability. Anyway, all of us are hoping for the real and brighter future for the future generation.

 

After watching the video there’s no doubt that Asia has a big possibility to reign the world Considering China’s rapidly increasing economic potential that can beat the US through time. However, even if China had a preponderance of the total economic size over the US in the future, I doubt China could not create a China-led international order in which China and other states enjoy economic, political, and social prosperity due to China’s intrinsic political issues and external factors.

 

 

There is a high possibilty that Asia will rule the humanity or the world for over a period of time  and It is already expected that in 21^st century Asia will be the global economy’s center of gravity since Asia has the largest population in the world that use them as their advantage and because of China’s exceptional economic growth that will be expected in the future to surpass the US economy.

 

If this will happen I think there will be a positive impact to Asian countries especially in our country the Philippines because we are part of different groups or organzitions such as ASEAN or Association of Southeast Asian Nations and APEC or Asia-Pacific Economic Cooperation which is the primary goal is to accelerate and support sustainable economic growth, social progress, cultural development and prosperity in the region through joint endeavors in the spirit of equality and partnership in order to strengthen the foundation for a prosperous and peaceful community.