“Asia Emerges from Global Crisis with Growth Intact”
In the September 9, 2010 issue of The Financial Times, Booz & Company Senior Partner Edward Tse (China) said that the companies from manufacturers to those in services can no longer ignore that Asia is now deeply embedded in the production of everything from cars to software. “To flourish over the next decade and beyond, multinational companies must formulate strategies that can integrate the business implications of China’s market liberalization into their global supply chains,” said Tse, who is Booz & Company’s Chairman for Greater China. Based on current trends, Asia by 2030 will account for half the world’s gross domestic product, from less than a fifth in 1950. In terms of purchasing power parity, China could become the world’s biggest economy within a matter of years; recent quarterly output numbers suggest that, even in dollar terms, it has already overtaken Japan, the world’s second-largest capitalist economy since 1968. Tse is the author of the new book, The China Strategy: Harnessing the Power of the World’s Fastest-Growing Economy.