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Rise of Asia will shift balance of global economic power by 2050: Nayyar The rise of Asia represents the beginning of a shift in the balance of economic power in the world and some erosion in the political dominance of the West, he said Current Affairs News :The ascent of Asia on the back of its quick industrialisation will prompt a move in a critical position of worldwide monetary power by 2050, noted financial specialist Deepak Nayyar said on Wednesday. In a discussion on his most recent book ‘Resurgent Asia: Diversity in Development’ here, Nayyar said that by around 2050, Asia will represent half of the world’s absolute salary and populace, yet per-capita pay of the area will be no place of the degree of the US or Europe. The ascent of Asia speaks to the start of a move to be determined of monetary power on the planet and some disintegration in the political predominance of the West, he said. Future will be formed incompletely on how Asia misuses openings and addres...