Asia Must Rewrite Rules of Capitalism


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By Chandran Nair

Published: June 16 2010 01:50 | Last updated: June 16 2010 01:50

The 20th century's triumph of consumption-based capitalism has created the crisis of the 21st century: looming catastrophic climate change, massive environmental damage and significant depletion of natural resources. Asia is now at the heart of it.

The western economic model, which defines success as consumption-driven growth, must be challenged. Asia, while apparently promising most for this model's continuation because of its large population, is paradoxically the region best placed to do this.

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