>FLASH ECONOMICS (ECONOMIC RESEARCH)

The centre of gravity of the global economy and for large corporations is being transferred to Asia at an increasing pace

We believe that the centre of gravity of the global economy and for large corporations will move - at a more rapid pace after the crisis - towards Asia, which includes China, India and other Asian emerging countries (but not

Japan directly):

- the growth gap between Asia and large OECD countries (United States, Europe, Japan), will widen further, which is likely to give rise to a new wave of offshoring to Asia and rapidly increase the weight of Asia in the global economy and in global trade;

- the vigorous growth in Asia will gradually drive up commodity prices, which will generate a new weakening in growth in large OECD countries;

- the necessary savings, be it to finance fiscal deficits or the needs of companies and banks in large OECD countries, will increasingly come from Asia, and this will gradually increase the weight of Asia in financial markets and in terms of company ownership.

To see full report: FLASH ECONOMICS