Asian Markets Mega Trends 2020: Profiting From a Single Integrated Asian Market
While the First and Second Industrial Revolutions were accompanied by national economies and nation-state governance, the Third Industrial Revolution (TIR), because it is distributed and collaborative by nature, scales laterally along contiguous landmasses, and favours continental economies and continental governing unions. Continentalisation is becoming the new path to globalisation.
Sharing renewable energy laterally, in power, communications and transport networks that stretch across continents, like we now share information virtually in networks across the internet, is going to radically transform the political world, indicates the white paper on Continental Markets and Continental Political Unions, authored by Dr. Rajiv Kumar, Secretary General, Federation of Indian Chambers of Commerce and Industry (FICCI). The new energy relationships will require governing jurisdictions that are similarly lateral and networked and that encompasses the outer limits of the TIR’s geographical reach, which are the edges of continents.
If not inevitable, it is at least highly likely that continental unions will become the new governing jurisdictions to regulate emerging continental markets around the world in the 21st century.
Mega Trends 2020: The Third Industrial Revolution
The European Union is the first continental economy and political union to begin transitioning into a Third Industrial Revolution. In North America, the North American Free Trade Agreement (NAFTA) is a precursor to a continental union.
Although localities, regions, and national governments will not disappear in the coming century – they will actually be strengthened – continental unions provide an expansive political framework for overseeing integrated continental markets.
Today the prospects for regional progress in Asia are bright and India is ideally positioned to help facilitate the establishment of a single integrated Asian continental market and accompanying political union. In particular, the creation of an Asian energy internet will allow hundreds of millions of people to produce their own green electricity and share surpluses with one another across the Asian continent. In this context, the Indian business community has an enormous opportunity to help shape the future of the Asian market, by spearheading the continental transition to a post-carbon Third Industrial Revolution economy.
Green Future On the Way – Asia Can Pull the Trigger
This apart, the groundwork for a green future has already started. India has immense potential in terms of renewable energy and a quick glance at the five pillars of Third Industrial Revolution reveals that India and Asia can pull the trigger, which might carry us to a sustainable postcarbon era.
The shift in global power from the Atlantic to the Pacific has started in right earnest with emerging and developing economies projected to have a 50 per cent share of World GDP (on a purchasing power parity basis) by 2012 (vis-à-vis 37.5 per cent for G7 countries). The Third Industrial Revolution will make possible this shift and create a new distributed social vision in the 21st century for Asia, and India with its abundant natural resources, burgeoning middle class and a huge rural market is well poised to take advantage of such a change....