The future of Asia: Asian flows and networks are defining the next phase of globalization

Asia is increasingly the center of the world economy. By 2040, the region could account for more than half of global GDP and about 40 percent of global consumption. This new paper builds on the McKinsey Global Institute’s research on globalisation in January 2019 by examining Asia’s rise on eight dimensions incorporating 16 types of flow, looking at the increasing integration of the economies of the region, and highlighting the development of three powerful new Asian networks: industrialisation, innovation, and culture and mobility, and the rising cities that are pivotal components of those networks.