2.2 Global Futurism and Megatrends

Economic shifts will continue to see influence shift from West to East, and North to South, as the world economy restructures towards the Asian century.

It is expected that within the next decade, the combined 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. Indonesia is ranked 17th in the world in terms of GDP and its citizens are generally young, increasingly educated and with greater levels of disposable income.

The Asia-Pacific’s cities will be seen as important markets. Some single city populations will grow to the size of modest countries and should be considered as target markets in their own right.

Developing commercial and friendly relationships based on trust and respect will be the key to political and economic stability.