For Canadian businesses, a ‘China strategy’ or an ‘India strategy’ is no longer sufficient. The entire region is on the move and new opportunities will increasingly come in the form of intra-regional value chains, networks, consumption patterns and cultural trends. A recent report published by McKinsey Global Institute explores the medium and longer-term implications of Asia’s explosive growth and economic momentum.
It is estimated that by 2040 Asia will account for well over half of the world’s middle-class consumers and just over 50% of global GDP (PPP basis). Which makes this report required reading for Canadian business and political leaders.