In the 19th century, the world was Europeanized. In the 20th century, it was Americanized. Now, it is being Asianized — and much faster than you may think.
Asia's rise has been swift. Home to more than half of the world's population, the region has climbed from low- to middle-income status within a single generation. By 2040, it is likely to generate more than 50 percent of world GDP, and could account for nearly 40 percent of global consumption.
New McKinsey Global Institute research shows the extent to which the global center of gravity is shifting to Asia. Today, the region has an increasing global share of trade, capital, people, knowledge, transport, culture and resources. Of eight types of global cross-border flows, only waste is flowing in the opposite direction, reflecting the decision by China and other Asian countries to reduce imports of trash from developed countries.