China is the strongest country in Asia. Photo/Reuters
JAKARTA – Asia will be the future of the world. That’s why in the next few years, the most powerful countries in the world will appear in Asia. The domination of Europe and the United States will be overthrown by countries in Asia.
Until there is a nickname that the 21st century is often referred to as the century of Asia. According to the world’s leading research institute, McKinsey, Asia was responsible for more than 50% of global gross domestic product (GDP) by the middle of the 21st century.
Asia has emerged as a significant global power in modern times, with economic, political and cultural influence felt around the world. As the largest continent in the world, home to more than 60% of the world’s population, and with the fastest growing economy. Finally, Asia is poised to play an increasingly significant role in shaping the future of the world.
One of the most significant ways in which Asia is defining the 21st century is through its economic power. The region has experienced unprecedented economic growth in recent decades, driven by countries such as China, India, Japan and South Korea.
In many ways, Asia has become the world’s manufacturing hub, as countries like China, Vietnam, Taiwan have the largest share in global manufacturing output. In the manufacturing sector, Asia’s biggest competitive advantage lies in the semiconductor industry, with a region accounting for 75% of the world’s chip manufacturing industry.
In terms of military strength, Asia is home to four of the five most powerful militaries in the world, with three of them being nuclear powers. In addition, two of the five permanent members of the UN security council with veto powers are also Asian, concentrating significant political power on the continent.
Asia is also culturally strong, and is home to many globally popular cuisines, arts and philosophies. China is known for Confucianism and Taoism, two ancient philosophies widely regarded in the world.
Chinese cuisine, with dishes such as Manchurian and Chow Mein, is also found on restaurant menus around the world. India, like China, also boasts significant soft power around the world through its globally popular bollywood cinema, ancient philosophies such as Buddhism and Indian cuisine.
Asian companies contribute an average of USD 19 trillion to the global economy each year. These prominent companies include Alibaba Group Holding Limited, Toyota Motor Corporation and Baidu, Inc. Alibaba Group Holding Limited (NYSE:BABA) controls over half of China’s online retail market, and is one of the world’s largest online trading marketplaces, both wholesale and retail. Toyota Motor Corporation is a Japanese automaker with an 11.5% global market share in the automotive industry. Finally, Baidu, Inc. is a Chinese technology company, with a 65% share in the country’s search engine market by 2023.
Insider Monkey defines ‘the most powerful country in Asia in 2023’ as one with a large economy, strong military and significant political influence. The strongest countries are based on the average results of their ranking among themselves in terms of GDP, military strength, and political influence.