Macroscope | Irresponsible brinkmanship puts Asia’s stability and prosperity at risk
- Much of Asia’s growth in recent years has been built on a foundation of strategic stability, but that is under threat in a series of potential flashpoints
- Leaders and policymakers must know it is dangerously irresponsible to risk lives and livelihoods in the hope of scoring points against their opponents
For many years, Asia has seen the dawn break at the start of a new year on a land of relative peace and prosperity. This year, however, the morning sky is clouded with ominous signs of uncertainty and perhaps coming storms.
The malaise is not confined to Asia or business, however. As the World Bank’s chief economist Indermit Gill put it on the release, also on January 9, of the latest Global Economic Prospects report, “Without a major course correction, the 2020s will go down as a decade of wasted opportunity.”
As SVA noted, “much of Asia’s growth in recent years has rested on strategic stability”. Cooperation among states and businesses enabled the integration of manufacturing processes across national borders. This was also aided by stable and safe shipping and other transport ties.
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