AFP, New Delhi :
Britain’s vote to leave the European Union and simmering discontent in other Western countries is seen as hastening the arrival of an “Asian Century”, analysts say, led by the rise of China and India.
By 2050, Asia will account for over half the world’s GDP, almost double that of 2011, according to the Asian Development Bank, with three billion newly affluent citizens.
The EU and other powerful collectives such as the United Nations, NATO, IMF and World Bank hark back to the post-World War II era, with a vision of cooperation leading to peace, prosperity and security.
But the churning currents of globalisation and institutions’ reluctance to reform have left Asian nations feeling that they are not well-represented and looking to form new alliances.
“The old system which kept the West rich and safe is under threat,” said Neelam Deo, a former ambassador and director at Gateway House think-tank in Mumbai.
“The British voting to leave the EU in the way they did will impact the old institutions which were set up after World War II and intended to entrench Western power,” she said.
Brexit has summoned the spectre of a domino-like departure of other members of the EU, pounded by the migrant and euro crises, as well as a fragmenting United Kingdom, should Scotland vote for independence.
Britain’s vote to leave the European Union and simmering discontent in other Western countries is seen as hastening the arrival of an “Asian Century”, analysts say, led by the rise of China and India.
By 2050, Asia will account for over half the world’s GDP, almost double that of 2011, according to the Asian Development Bank, with three billion newly affluent citizens.
The EU and other powerful collectives such as the United Nations, NATO, IMF and World Bank hark back to the post-World War II era, with a vision of cooperation leading to peace, prosperity and security.
But the churning currents of globalisation and institutions’ reluctance to reform have left Asian nations feeling that they are not well-represented and looking to form new alliances.
“The old system which kept the West rich and safe is under threat,” said Neelam Deo, a former ambassador and director at Gateway House think-tank in Mumbai.
“The British voting to leave the EU in the way they did will impact the old institutions which were set up after World War II and intended to entrench Western power,” she said.
Brexit has summoned the spectre of a domino-like departure of other members of the EU, pounded by the migrant and euro crises, as well as a fragmenting United Kingdom, should Scotland vote for independence.
