Welcome to the nuanced reality of the Asian Century

This article was first published in Nikkei Asia.

Next chapter of region's rise will be about balance, not power.

When the Asian Development Bank released its report on the "Asian Century" in 2011, it projected that the region would account for roughly 40% of global GDP by 2030 and 52% by 2050. In fact, Asia had already surpassed these forecasts by 2024, contributing nearly 55% of global GDP.

The idea of the Asian Century once evoked a singular narrative built on expectations of rapid industrialization, export-led growth and deepening globalization — often led by a few standout economies. But today, with many of those assumptions being tested, that story is evolving. The next chapter of Asia's rise is not about dominance, but about balance — between global integration and local relevance; between scale and inclusion; and between learning from others and leading with original ideas.

One of the clearest signs of this shift is the reappraisal of what was once seen as a uniquely Japanese phenomenon: "Galapagos syndrome." Traditionally viewed as a business school cautionary tale — where technologies were developed to suit domestic needs but failed to scale globally — this approach is now being reinterpreted as a strength. In a world where local context matters more than ever, Asia's model of innovation, rooted in specificity and adaptability, is gaining global relevance. Perhaps it's time to rewrite some of those business school textbooks.

Across the region, countries are designing solutions tailored to their own realities — from mobile-first platforms to groundbreaking financial infrastructure. In doing so, they've created blueprints that are now being studied, adapted and even replicated around the world.

In markets where mobile phones became the primary gateway to digital services, conditions were ideal for the emergence of the superapp. Free from legacy constraints, platforms like WeChat, Alipay, Grab and Gojek evolved into integrated ecosystems — seamlessly combining payments, messaging, transport, commerce and more. Today, companies in Africa, Latin America and even the U.S. are exploring how to replicate the convenience and functionality these platforms offer.

Asia's influence now extends well beyond consumer apps. In financial services and digital public infrastructure, the region is reshaping global perceptions of what scale, inclusion and innovation can look like. India's Unified Payments Interface has become a global case study in how secure, low-cost digital transactions can scale dramatically, handling billions of transactions each month. Southeast Asia's QR-code payment networks are being recognized for their rapid adoption and interoperability, influencing similar initiatives in Europe and the Americas. Centralized digital identity systems, such as Singapore's Singpass and India's Aadhaar, are informing policy discussions and pilot programs in countries like the U.S., Canada and across Europe.

This transition from "adopter" to "originator" is unfolding across a region that continues to grapple with its own complexities. Asia is home to both the world's fastest-growing economies and its most rapidly aging populations. Some countries lead in AI and smart city development, while others are still expanding basic connectivity. This diversity means Asia is innovating on multiple tracks, leading in some areas while rapidly catching up in others.

Yet this complexity is also a source of strength. Challenging conditions have fostered innovation that is not only efficient and scalable, but also inclusive and resilient. As the world navigates economic uncertainty, digital inequality, and shifting geopolitical dynamics, Asia's adaptable approach may offer some of the most compelling solutions. Japan, for instance, is pioneering the use of robotics and AI in health care and elder care to address the twin challenges of worker shortages and an aging population — issues that many other countries are beginning to face as well.

Much has changed since the term "Asian Century" first entered the global lexicon. What we see emerging now is a more nuanced, multidirectional and contextually grounded version of that vision. Where once the question was how Asia might "Westernize," the world is now asking which Asian ideas, technologies or models it should adopt next.

That, more than any single economic metric, may be the clearest sign that the Asian Century has truly arrived.