It is important to mention that regional growth is a topic that has been actively discussed over the last few years, and it is especially true for such areas as Asia that are still actively developing. Some of the recent events need to be mentioned to get an understanding of the situation in the region.
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It is necessary to note that one of the most important factors that would affect the growth of the region is the unification of North and South Korea. Such changes would also lead to social consequences. The biggest problem that needs to be discussed is that the populations of these countries regard each other as enemies, and many individuals think that reunification is not necessary. The number of threats from the side of North Korea is a critical factor that should not be disregarded, and both sides want to ensure that their interests are taken into account (Winsor, 2015). It is imperative to mention that tremendous opportunities for development are available, but the current difference between the economies of these states is enormous.
Another core factor that should not be disregarded is that currently, there is a conflict that occurred because numerous countries want to take control of the Spratly Islands. It is necessary to mention that not many governments would be able to use the resources to their full potential. For example, China would become much more independent, and would most likely guarantee energy security. The issue is that it is believed that the country has no right to claim the territory, and many think that actions such as construction projects were unreasonable. International Tribunal has decided to review the case because an intervention was required in this situation (Sevastopulo, 2015). Another problem is that the conflict is getting much more intense with every single year, and many participants are ready to take military actions, and it would hurt the development of the region.
The current situation in Russia is also intriguing, and it is extremely likely that sanctions will lead to long-term complications. The biggest problem that is worth mentioning is that relationships with other countries have been affected because of such issues as segregation of the Crimea and the ongoing conflict in Ukraine (Henn, 2016). It is paramount to note that an enormous percentage of the population does not agree with this course of action. It is expected that gross domestic product is going to keep on declining, and exchange rates are especially worrying. Inflation is also a tremendous problem that needs to be addressed. Many think that such activities are not justified from the economic perspective, but geopolitical reasons should be taken into account. Also, it is imperative to say that Russia has tremendous amounts of resources at its disposal that are not yet fully utilized to their full potential, and it is entirely possible that the economy of the country may recover in the future.
In conclusion, it is expected that the region is going to continue developing at a rapid rate, and it is believed that it is not going to change anytime soon. However, the issue is that several disagreements and disputes that may hinder the growth are currently present. Overall, it is not an easy task to predict how economic, political, and social aspects would affect the situation, and numerous internal and external factors should be taken into account.
Henn, P. (2016). Putin kicks off 2016 by identifying greatest threat to Russia…and it’s not Isis… Sunday Express. Web.
Sevastopulo, D. (2015). China loses round one in Philippines dispute over islands. Financial Times. Web.
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Winsor, M. (2015). Will North, South Korea unify? Eventual unification through peace or violence will happen, US military official says. International Business Times. Web.