Asia has become a continent of high growth rates and rapid urbanisation. While the economic outlook seems bright, environmental costs are rising too. In order to achieve a sustainable pattern of development, Asia will have to deviate from the models set by North America and Western Europe. For the sake of high standards of life in megacities, for instance, it does not make sense to rely on individualised motor traffic. Challenges must be tackled at local, national and international levels.

Asia’s growth over the last couple of decades constitutes a remarkable success by any standard. Estimates suggest that the region grew by about five percent in 2006, marking a remarkable comeback since the 1997-98 financial crisis. This growth is forecast to continue. Led by the rapidly expanding economies of China and India, emerging Asia, on current trends, is expected to maintain average annual growth rates of more than five percent through to 2030. By then, the region should account for about 40 % of the world economy. No doubt, sustained high economic growth will be accompanied by rising incomes and consumption.

Read more: http://www.inwent.org/E+Z/content/archive-eng/03-2007/foc_art3.html

Source: D+C Magazine for Development and Cooperation (http://www.inwent.org)