The World Economic Forum (WEF) has predicted that the year 2020 marks the re-emergence of Asia. For the first time since the 19th century, Asian economies will become larger than the rest of the world in purchasing power parity (PPP) terms.
Despite the economic aftermath of the coronavirus pandemic, the International Monetary Fund said emerging Asian economies are the only region with anticipated GDP growth – albeit by a mere 1% – in 2020.
As the region’s focus shifts up a gear to drive the new economy by strengthened interregional cooperation, and targeting technology, human capital and investment to accelerate innovation – Asia is on the path to becoming a new driver of global economic growth. With the opportunities for business and investors to match.
Initiated by the Chengdu city,
the Global Innovation & Technology Forum will focus on this dynamic region. The forum will highlight opportunities for business and investment by expanding the dialogue between leaders from business, government and finance – to nurture innovation, and show how partnerships, and leveraging hubs like Chengdu, Hong Kong and Singapore, can enable Asia to become a driver of the global economy.