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Realistic and optimistic on Asia

Comments on Koh "

Three challenges to Asia’s global ascent", 9/03/2012, http://www.eastasiaforum.org/2012/03/08/three-challenges-to-asia-s-global-ascent/

The three areas Koh listed are all very important issues that many Asian countries face, and should and must be dealt with sooner or later.
I somehow am confident and optimistic that those issues will be able to be dealt with and resolved in the due course.
Although I have been aware that Gini is high and has been on the rise in China and many people have used that as a big problem in the rapid growing Chinese economy, I didn't realise that Gini is 0.48 in Singapore. I think that China will pay more attention to inclusive growth and achieve better equity in terms of income distribution as its income level rises and as its labour force turns from surplus to relatively scarce especially in the context of rapid growth of the economy and of physical capital investment.
In terms of environment sustainability, it is likely that we will see gradual and significant improvement in some fast growing economies, especially China, as it's economy enters into a stage of extensive physical quantity growth to intensive quality and value growth phase. I think China, leaving aside urbanisation that will still be dominated by extensive physical growth, is very close to this critical transition. Besides, as income level rises, the relative value people place on environmental goods will rise so naturally from now on we are likely to see more "demand" for environmental goods relative to other goods.
Corruptions in many Asian countries are reported to be serious. However, I do believe that it is likely to decline and possibly significantly so in major large fast growing Asian countries, especially in China.
If China is one of the best representatives of Asian fast growing countries, especially when its size and share in those fast growing economies are concerned, my confidence and optimism in them to resolve those three issues seems to be justifiable.

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