Asia is often touted to be an up-and-coming economic power. But we haven’t heard much about how Asians see themselves in the world economy. Mark Hurst, who writes the Creative Good newsletter and recently returned from a lengthy trip to Southeast Asia, offers some very interesting observations that should make us ask: if it’s true that market leaders generally stop innovating and become stagnant, can the same also be true for nations. Says Mark,
It’s hard to overestimate the feeling of energy, expansion, investment, and activity that pervades the region. As the US economy stagnates, money has flooded into southeast Asia trying to find better investment yield – and the aggressive work ethic of the region (long hours, highly competitive, focus on results) has been happy to make use of that investment.
Multiple times people told me, in effect, that they just don’t pay much attention to what’s happening in the US – or Europe, for that matter. Asia is taking the lead in the world economy, and while the US has some good ideas worth studying (and perhaps borrowing and improving upon), it is not considered the leader to be followed.
It makes one wonder, can Americans imagine what the world’s economic landscape will look like in 20 years? In 10 years? And are such seismic shifts simply inevitable?
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