This is a Track II Diplomacy Initiative, where Government and Industry Leaders, Regulators, Policymakers, Academicians and think tanks from across Asia discuss and debate issues relating to the entire energy spectrum, particularly the emerging issues and challenges in the Energy landscape of Asia.
Asia is at the cusp of a paradigm shift with the continent expected to be the prime theatre of global economic activities in the times to come. Already, in terms of purchasing power parity, three of the top five economies of the world are from Asia and they are namely China, India followed by Japan. In terms of nominal GDP, three of the top ten economies of the world are from Asia, and yet in every respect, Asia is yet to unleash its true economic potential.
Over the next few decades, even as economies of the European Union and US would move more towards economic stagnation, it would be the Asian economies primarily led by China, India, Japan as well as many others including the likes of Indonesia, South Korea, Thailand who would be spurring more of global economic demand as a substantial portion of the Asian populace would strive for better lifestyle and higher income.
However, even as the rise of continental Asia over the next two decades is confirmed, it is not without its own set of pitfalls. The journey may not be seamless and would have several hiccups. Most of the major Asian economies of Asia led by China, Japan and India continue to be energy scarce nations and each is still struggling to find the perfect energy matrix that would reduce the disruptions and fluctuations of both supply of energy as well as the price of it.
Geopolitics of Energy
Even as energy issues create ample avenues of cooperation between countries of Asia, there is also a strong possibility of such crisis and competition to grab such energy sources leading to conflict like situations. Be it the potential conflict zone in South China Sea due to the face-off that China has with Vietnam and Philippines on the issue of potentially oil rich Spratly and Paracel Islands or the constant tension between Japan and China on the another potentially oil rich Senkaku Islands, the core remains issues related to energy security that each is striving for.