| ID | 100334 |
| Title Proper | APR and Russia |
| Other Title Information | a new role in global development |
| Language | ENG |
| Author | Ivanov, A |
| Publication | 2010. |
| Summary / Abstract (Note) | TEN YEARS AGO when the Asian countries were extricating themselves from the 1997 Asian financial crisis few expected the vast Asian-Pacific Region (APR) to become the locomotive of global development of the 21st century. The locomotive, meanwhile, remained as efficient as ever at the peaks of the current world financial and economic crisis. Indonesia (the GDP of which increased by 4.5% in 2009 and is moving toward 6% in 2010) is rapidly catching up with China and India, the new leaders of economic advance in the APR. According to Merrill Lynch in 2009 the total private assets of the APR countries increased by 31% (the world's highest) to reach $9.7 trillion; in the same year the number of dollar millionaires in Asia increased by 26% to come even with the European figure of 3 million (North America is home to 3.1 million). The Boston Consulting Group forecasted that in 2010 the level of wealth in the APR will go up twice as fast as the world's average; this explains a broader and more active involvement of banking giants Barclays, Morgan Stanley and UBS in Asia.
The economic upsurge of the APR is highly important for Russia which is the region's inalienable and fairly large part. When dealing with Russia's application to the Asia-Europe Meeting (ASEM) and the need to include it in either the Asian or European part the Meeting was confronted with the dilemma which had kept the Slavophiles and Westerners busy for a long time. Resolved by famous Russian poet Alexander Blok who called Russians "leafs of the Asian tree" the issue acquired an international political-economic dimension in the globalization era. |
| `In' analytical Note | International Affairs (Moscow) Vol. 56, No. 5; 2010: p.76-83 |
| Journal Source | International Affairs (Moscow) Vol. 56, No. 5; 2010: p.76-83 |
| Key Words | Asian - Pacific Region (APR) ; Russia ; Global Development ; Asian Financial Crisis - 1997 ; China ; India |