A new world order dominated by Asian countries is emerging, noted economist and former Vice-Chancellor of Delhi University Deepak Nayyar has said.
Delivering the seventh I.S. Gulati memorial lecture at the Gulati Institute of Finance and Taxation (GIFT), Prof. Nayyar said that over 25 developing nations, many of them from Asia, would have a crucial role in the evolution of the new world order. Hence, the future of the globe would be decided by the emerging Asian powers.
Countries like China, India and Indonesia were capable of advancing to new advanced economies and this could involve a serious shift in the next 25 years, Prof. Nayyar said.
Former Finance Minister T. M. Thomas Isaac, GIFT director K. J. Joseph, economist K. P. Kannan, former KCHR chairman Michael Tharakan, and Centre for Development Studies director C. Veeramani, were present.
