Innovation and Technology in Asia

This overview, followed by five supporting reports, identifies these challenges of tomorrow, points to key choices ahead, and recommends not just ‘what’ needs to be reformed, but ‘how’ to undertake the reforms. The overview is divided into nine chapters. The first chapter examines the characteristics of China’s development since 1978; considers future opportunities, challenges, and risks; and describes a vision of China in the year 2030. The second chapter maps a new strategy that will realize this vision, focusing on the key choices ahead for China to sustain rapid economic and social development and become a modern, harmonious, and creative high-income society before 2030. Chapters three to eight elaborate on each of the six pillars of the new strategy: consolidating China’s market foundations; enhancing innovation; promoting green development; ensuring equality of opportunity and social protection for all; strengthening public finances; and achieving mutually beneficial win-win relations between China and the rest of the world. The ninth and final chapter addresses implementation challenges, including the sequencing of reforms and overcoming obstacles that are likely to emerge.

An additional 3 billion Asians could enjoy living standards similar to those in Europe today, and the region could account for over half of global output by the middle of this century, says this ADB report. This potentially promising future for the region sometimes referred to as the "Asian Century" though plausible, is by no means preordained.

This study is aimed at senior policy makers, top business leaders and key opinion makers within Asia to help forge a consensus on a vision of and strategy for Asia’s potentially historic rise among the global community of nations between now and 2050. The study offers a long-term perspective of the Asia region as a whole as opposed to the more common approach that delivers a short- to medium-term perspective of selected countries, subregions or issues.