The “Asian century” means tightening Asian belts

The shifting of economic and political power eastwards means the West must wake up to the fact that promoting consumption-led growth to Asia is not a viable option when natural resources are being so rapidly exhausted. Chandran Nair outlines how Asia should abandon Western-style economic practices to achieve a sustainably prosperous future on its own terms.

Europe's World

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Has Western capitalism failed?

The triumph of consumption based capitalism in the West has created the crisis of the 21st century: massive environmental damage, depletion of natural resources, a growing gap between the rich and poor and most recently an awareness that it is dependent on facilitating people and nations to live beyond their means, thereby creating unmanageable debt and banks too big to fail.

BBC Business Daily

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