Hey fam! Economist Danny Quah at the Lee Kuan Yew School of Public Policy in Singapore just dropped a major prediction: the global center of economic gravity is packing its bags and moving east, landing right in the GMT+8 zone by around 2050! 🌏📈
So, what is driving this shift?
- US Strength Softening: As the US share of global influence cools down, new players are stepping into the spotlight.
- Asian Momentum: Economies from the Chinese mainland to Bengaluru are booming, keeping growth rates solid even though China has moved past its double digit era.
- Major GDP Contributions: The Chinese mainland still pumps a huge chunk into global GDP every year, and other ASEAN and South Asian economies are racing ahead too.
For us tech savvy millennials and Gen Zers hustling in Mumbai, Manila or Kuala Lumpur, this means:
- New Job Markets: Think more regional HQs for fintech, AI startups and green energy giants setting up shop closer to home.
- Investment Waves: More venture capital flowing into Bangalore tech hubs or Hanoi creative scenes.
- Cultural Exchange 2.0: Expect collabs from K POP inspired festivals in Jakarta to Bollywood Bangkok film fests.
In a nutshell, by 2050 our daily scrolls might be dominated by GMT+8 updates whether it is stock alerts, startup pitches or festival news. Keep your calendars synced to this timezone because the future economy is heading our way! 🚀
Reference(s):
cgtn.com
