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"Asia's future is now." "Asia is on track to top 50 percent of global GDP by 2040 and drive 40 percent of the world's consumption, representing a real shift in the world's centre of gravity." — Asia’s explosive consumption since the 1980s, its integration into global trade, capital markets, business acumen and adaptability of its work force, and innovation have been astounding. Asia’s future economies "will go from participating in these flows to determining their shape and direction. Indeed, in many areas—from the internet to trade and luxury goods—they already are. The question is no longer how quickly Asia will rise; it is how Asia will lead."

Source: McKinsey Global Institute July 2019 Discussion Paper, providing an overview of Asia’s role in four areas: trade flows and networks, corporations in Asia, technology, and the Asian consumer.


How to Win the Battle for Professional Accounting Talent:
The Uniform Global ICPA® Training Program.
01 May 2019 - PDF Article.




HISTORICAL ARCHIVE

John Maynard Keynes (1913), "Indian Currency and Finance." (HTML)
Quotation on money creation — Chapter 8, "Paper Currency," page 37:


“The sound principle for regulating the issue of a Paper Circulation,” wrote the Secretary of State, “is that which was enforced on the Bank of England by the Act of 1844.”

In England, of course, bankers immediately set themselves to recover the economy and elasticity, which the Act of 1844 banished from the English system, by other means [namely, the technique of double-entry bookkeeping by debiting loans receivable, and crediting demand deposits]; and with the development of the cheque system to its present state of perfection they have magnificently succeeded.

Photo: J.M. Keynes (1906), Clerk at the India Office.

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    Created/Updated 2019-11-18