2.2 Global Futurism and Megatrends

An economic shift will see influence shift from West to East and North to South as the world economy restructures towards the Asian century.

Within a decade E7 countries (China, India, Brazil, Mexico, Russia, Indonesia and Turkey) will double the GDP of G7 nations (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States). Added to this, up to two-thirds of the world’s middle class will live in the Asia Pacific within a decade. The impact on OECD economies may lead to protectionism, nationalism and deglobalisation.

Futurists note that Indonesia should not be overlooked in importance, especially to Australia as a key market.

Cities will be seen as important markets. As single city populations grow to the size of modest countries, cities should be seen as target markets in their own right.