The 100 largest metropolitan centers across the West Coast of the Americas and Asia-Pacific make up one fifth of the global economy today. A new analysis by the Brookings Institution identified the 100 largest metro economies including 49 in China, 19 in Japan, South Korea and Taiwan, 12 in North America, 7 each in Southeast Asia and Latin America, and 6 in Australia and New Zealand. The Asia-Pacific MetroMonitor reaffirms this shift in global economic growth to these cities in the East and South especially as Asia’s urbanization and industrialization continues to grow.
These booming cities in the Asia-Pacific region together accounted for 20% of global GDP, 29% of global GDP growth, and was worth $22 trillion in 2014. Chinese metro economies were the fastest GDP per capita growth while cities such as Portland, San Jose, and Seattle all outpaced national growth averages in 2014. These cities, “are where the region’s most significant developments—China’s continued liberalization and economic expansion, the rise of Southeast Asia, and the technology-led growth occurring in North America—all come to ground.” These booming forces offer the possibility for a new era of massive growth and prosperity among cities in the Asia-Pacific region especially as it drives the global economy in full force.
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Alison Killian is a recent graduate of Grove City College who majored in Business Management and minored in Biology Studies. She is a contributor to Medical Groups and passionate about all facets of healthcare. She plans on continuing work in the healthcare field especially in management. She is very interested in healthcare innovation and finding ways to improve the current system. She hopes to go back to school in a few years to earn a degree in medicine.