Asian Economies over the Next Decade

China and to a certain extent India are rapidly emerging as global economic powerhouses. This session draws a sketch of what that implies for the global economy and for research, technology, and innovation, while at the same time predicting major structural changes for the Asian economies. China is moving into more high-tech production; India is taking over as the center for labor-intensive, low-wage manufacturing. A new and more compact supply chain is emerging. Outsourcing from the United States and Europe motivated by labor costs is fading, but outsourcing among Asian countries (e.g., China to Vietnam) is rising. We will see economic integration among Asian economies driven by market forces. Future economic activity looks to be controlled by human improvement (health), human improvement (education), and human entertainment.