Eighteen trillion dollars. Yes, “trillion” dollars. That is the broadly accepted working estimate of the amount needed for vital economic infrastructure such as roads, ports, and rail facilities among Asia Pacific Economic Cooperation group partners. And that’s just in the current decade to 2020.
It is a staggering sum even considering the large populations and massive growth often associated with this part of the world. For Australia, such an explosion of capital investment portends great opportunities and suggests that in addition to the mining boom, we are situated precisely where you would want to be as the locus of global power swings decidedly eastward.
For the pan-Eurasian colossus of Russia, this tectonic shift is being adapted to with maximum haste because geographically, if not culturally, the former super-power has a foot in both camps. The Russian capital may be closer to western European centres like Helsinki and Stockholm, but its vast territory extends to a coastline nine flying hours and eight time zones to the east. Which is why its President Vladimir Putin, who returned to the top job earlier this year, is now so eager to stress his country’s Asian links.
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