Asia's ascent

摘要

Change, they say, is the only constant thing. What's surprising, however, is the speed of change. Be it in the rubber industry, auto industry or other manufacturing industries, the speed of change is overwhelming. China has just overtaken Japan to become the world's second largest economy behind the Unites States. India has already overtaken the US as the second largest consumer of natural rubber. Toyota has become the largest automaker in the world beating the US auto giants. Few expected these to happen so soon. According to the projections by the World Bank, Goldman Sachs and others, China is likely to overtake the US and become the world's largest economy by 2027. Last year, China became the world's largest market for passenger vehicles and the world's biggest exporter. A Morgan Stanley report says that, by 2015, India will overtake China as the world's fastest growing major economy.