Australia must prepare now for a world in the Asian century that is nothing like what we have experienced in the past.
The engine of growth for the world economy will be driven by consequences of migration from agricultural to urban living across the Asia Pacific. Hyper dense cities exceeding 10 million people will be the norm for countries throughout Asia. The sheer intensity of these metropolises will see by 2050 over 75% of humanity living in cities but occupying only a fraction, about 4 per cent in fact, of the earth’s surface.
There is an urgency to ensure our major cities grow and prosper for everyone’s benefit. If we succeed, we will underwrite the next economic super cycle reflecting a surge in productivity and exports of high value Australian goods and services throughout Asia and the Pacific. Continue reading