The economy of Asian Continent comprises of approximately 60% of the world population living in 46 different states. The largest economies of Asia in terms of both nominal GDP and PPP GDP are the People’s Republic of China, Japan, India, South Korea and Indonesia.
Large economic disparities, in terms of culture, wealth, environment, government systems etc., are a source of major continuing tension of this continent. While global economic powers China, Japan, India, and South Korea, wealth is mostly centered in eastern Oil rich Asian countries and Indonesia, Malaysia, Philippines, Thailand, Vietnam and Sri Lanka have entered the path to long-term growth.
Over the years, with the rapid economic growth and large trade surplus Asia has accumulated over half of the world’s total foreign exchange reserves.
Last Updated on : 25th June 2013