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Asia is the largest continent of the world, not only in terms of land area, which is 30 % of the world but also population wise. The future projections by multilateral agencies like WTO, World Bank, OECD, UN, IMF and many others, about Asia are simply bullish. Most people
agree that the next century will belong to Asia because it will be the growth engine for the world economy.
WTO predicts that World trade will boom @ 8%, World Bank estimates that world export which was $ 4 trillion in 1993 is expected to grow to $7 trillion by 2005 and 50% of this will be from emerging countries. Asia again will lead the trend. The Economist magazine in it’s special publication entitled The World in 2001 says that first time in 400 years, all of Asia will be managed by Asians. World economy will grow @ 4.2 % in 2001, American economy will grow @ 3%. Europe will expand faster than US (first time in 9 years.) Asia will grow @ 6 %.
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