Macroscope | Amid US-China tensions, Asia must come together to take back its destiny
- Asia’s internal differences leave it susceptible to outside intervention or even manipulation, and that stops it from realising its full potential
- That the divides remain so pronounced shows political development lags behind economic development. The region must grow up and learn to stand on its own feet
Through its actions, as well as those of outside forces, Asia risks ensuring that this will not be the oft-heralded Asian century. Instead, Asia’s destiny will continue to be decided from outside the region.
That, in turn, means Asia’s full economic and technological potential as the world’s most human- and physical-resource-rich region will not be fully realised.
And, as Hung Tran at the Atlantic Council in Washington, said, “The contention will […] be protracted, with potential for escalation, overshadowing economic competition and possible cooperation in areas of common interest.”
Some of these were summed up rather well by Jonathan Ostry, deputy director of the International Monetary Fund’s Asia and Pacific department, in response to my questions at the recent IMF-World Bank meetings in Washington.