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Asian Megatrends assesses the key drivers transforming Asia over the next two decades. The rise of China is transforming the Asia-Pacific, while India and Indonesia are also rising Asian powers that are changing the shape of the Asian economic landscape. However Asia also faces tremendous economic and social challenges over the long-term.

With traditional growth engines failing, the world is looking to Asia for economic salvation. This book charts the rise of China, India and ASEAN nations, who are increasingly being seen as the new growth drivers for the world, and discusses the imminence of a new global economic order.

Even with the contribution from North Sea oil, the British economy has on average since 1973 grown very slowly—barely half as fast as it did during the earlier post-war period. However the period since 1973 cannot be regarded in any sense as normal; for it incorporates two major recessions, and the recovery from these has clearly not been complete.

The last article considered the potential growth of national resources. This article considers the various demands on these resources-reviewing in turn the claims of investment and public expenditure, the resource implications of the need to maintain a satisfactory balance of payments, and finally, as the residual between the sum of these demands and available supply, the implied growth in private consumption.

Most economists would doubtless reject the idea that policy makers or the public should judge budgets solely in terms of a single summary concept, surplus or deficit. Yet there is an undoubted demand for a single statistic which provides at least a rough-and-ready summary of the fiscal position. The attempt to specify such a single statistic has given rise to controversy for many years.