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Asia 2050: Realizing the Asian Century by Asian Development Bank

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Resources and on progress in the low carbon race. e. 0 10% probability that the temperatures 6 could be higher than the range reported 5 and a 10% chance it could be lower. 6 1 0 Business as usual Developed country Complementary Action + action by Developed Economies High Low Median Source: Vivid Economics and MAGICC, 2010. The communications revolution Indians. Similarly, there is an explosion in the penetration of the internet—not only in high income Japan, The recent events in Tunisia and Egypt have demonstrated most vividly the power of the ongoing com- income PRC and India.

High quality insti- that have assumed global visibility relatively recently. tutions will help the fast growing countries avoid the But, it is perhaps the single most important long-term Middle Income Trap, and the slower growing coun- challenge facing humankind this century and beyond. tries establish the basic conditions for moving toward It could affect each and every human being on our sustained economic growth. Managing the common planet, irrespective of his or her country of residence challenges—be they the delivery of quality social or income level.

Higher proportion of their GDP on research and devel- Eleven Developing Asian countries fall into this opment than countries elsewhere. This is especially converging category, with most of the largest econo- pronounced in the advanced economies like Japan, mies included (PRC, India, Indonesia, Kazakhstan, Republic of Korea, Taipei,China and Singapore, but Malaysia, Thailand and Viet Nam). A third group of 31 aspiring countries—mostly low income but also some lower middle income—has not 1 I. Gill and H.

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