The Japanese phrase “Shikata ga nai (仕方がない) -loosely translated as "it can't be helped" -captures the essence of the resilience and sense of duty towards one’s community that the Japanese people displayed in the aftermath of the Great East Japan Earthquake and Tsunami.
A few days before the start of the U.N. climate conference this week in Copenhagen, the results of an interesting – and very relevant – poll were released by the World Bank. While world leaders and other high-level representatives from more than 190 countries negotiate during the two-week conference (Dec. 7-18), this multi-country survey attempts to give a voice to average people in the developing world.
The online population in Asian and Pacific countries grew by 22 percent last year. China led the growth with an incredible 31 percent increase – to 220 million – in total unique Web visitors. These latest numbers of the region’s explosive Internet growth are according to a report, released last month by Internet researcher comScore, measuring online audiences in the region and individual countries between September 2008 and 2009.
The report indicates that Internet audiences in Japan, India and South Korea also saw double-digit growth and that the Asia-Pacific region now has 41 percent – or 441 million people – of the global Internet audience. It’s interesting to see how quickly things have changed since the last time we wrote about an earlier report from comScore.
If you want to examine more of the report’s findings you can see the related press release, or download a presentation on the subject here. (Note: To download the slides, you have to provide them with your name and some contact info.)
I’ve pointed before to World Bank evidence that shows the Internet may lead to improved economic growth, job creation and good governance. What else do you think such increased connectivity could mean for development in the region?
This somewhat provocative question was the title of a conference hosted by Oxford and Standard Charter this week in London. My answer was: "No, not tomorrow; but yes, eventually – especially if China continues to vigorously pursue economic reform."
The reason that China cannot be the engine of global growth tomorrow is straight-forward. For the last decade an awful lot of the final demand in the world has come from the U.S. That era is over for the time being as U.S. households now concentrate on rebuilding their savings. No one country can fill the gap left by the slowdown in U.S. consumption: Japan, Germany, and China together have less consumption than the U.S., so no one of them can replace the U.S. as the major source of demand in the world. It's not realistic to expect China to play that role. But we are probably moving into a more multi-polar period in which there is more balanced growth in all of the major economies.
I’m beginning to sound like a broken record, but the bad news keeps coming on the economies in the region. As the Financial Times just put it, “The Asian Financial Crisis Deepens.” Thus far, the deteriorating economic performance has not appeared to flow through to the financial sector, but it now seems th