Gul: "The economic shift to the east will shke the political landscape"

Touting the impressive economic growth that the Asia-Pacific region has recently shown, especially as compared to the rest of the world, President Abdullah Gul yesterday said this economic shift from West to East will have broader ramifications for the world order. Speaking at the 25th Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) conference in Istanbul, Gul argued that this shift will have certain "inevitable" consequences. "With the world balance having moved from the Euro-Atlantic to the Asia-Pacific, the Asian continent has become the world's geopolitical and economic focus, and this will only grow clearer over time," he said. Asia's share of the world economy has grown from only 18 percent in 1980 to 35 percent in 2009, almost doubling in less than three decades. Some estimates suggest that by 2050 the continent will account for some 60 percent of the world's output. "The economic miracle of the Asia-Pacific region should be looked at carefully," he added. "Topping the factors that led to this miracle are political stability and the enticing business opportunities offered to foreign investors."