of the asian economy will be similar to that of the pre - enlargement eu. in the first half of the 2020s, it will match that of the three north american countries. picturing the world economy in 2040, asia's share in world gdp is forecast to be 42 %, while the shares of north america, europe, and other regions are expected to be 23 %, 16 %, and 20 % respectively. meanwhile, in terms of per capita gdp, as of 2003 asia recorded an average of $ 2, 400 - less than one - tenth of the average $ 29, 000 in north america and $ 27, 000 in europe. by around 2040, however, this difference is likely to be greatly reduced with asian per capita gdp being expected to be one - fourth of the figure in north america or in europe. looking at the big picture by country, in terms of overall national gdp, china is forecast to overtake japan by around 2020 and be on a par with the us by approximately 2040, to account for about 1 / 5 of global gdp. india would overtake japan by about 2030, and by 2050 or so is projected matching europe's 12 % global gdp share. by about 2040, korea's share in global gdp is forecast to have increased slightly to 2 % from 1. 7 % in 2003, while that of japan, due to its relatively slow growth, is estimated to have shrunk to about half its current 12 % share. in terms of per capita gdp, by around 5 / 6 2040, china is expected to be 1 / 4 of the figure in the us or in japan, and 1 / 3 of that in korea, while indian per capita gdp is, like today, estimated to be half of the figure in china. 3. the effect of the rise of the asian economy on the world economy how then will this high growth of the asian economy influence the world economy? it is already having a big impact on the global economy and this will increase in the future. this is because asia can offer an inexhaustible supply of labor to the world economy, which is rapidly integrating under the influence of information technology development and economic openness. a vast market that was once self - sufficient is joining the world economy. a number of effects are expected to arise from the integration of the asian economy with the open world economic order. first of all, labor costs will be reduced. with the

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