LEE JONG-WHA
Asia’s growth model is under intense strain, and rapid population aging will only make matters worse. But, by fostering the skills people need to make use of AI and building institutions that enable them to apply those skills creatively, Asia's economies can unlock new sources of inclusive, durable growth.
SEOUL – Two decades after globalization fueled a global economic boom, growth has shifted onto a more subdued path, where it is likely to remain for the foreseeable future. Beyond the immediate shock of fragmenting trade and investment ties – a result of rising geopolitical tensions, particularly between the United States and China – lie structural headwinds, including population aging, stagnant productivity, and the growing costs of inequality and natural disaster. These challenges strike at the heart of Asia’s growth model.
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