A new study by the International Monetary Fund predicts that regional trade and investment will rise dramatically in the region.
In a note accompanying the study, the IMF said the region will become an important center for trade, investment and services.
The study was published on Wednesday by the Institute for Economics and Peace.
China, India and South Korea are the three countries expected to see the greatest growth.
The report predicts that the regional trade volume will grow by a record $1.5 trillion between now and 2030.
“We are already seeing the first signs of a regional economic revival in some of the most advanced economies in the world,” said Christine Lagarde, managing director of the IMF’s Asian division.
In the study’s first section, the authors highlight China’s strong growth in the second half of the decade.
In terms of total trade, the country’s trade with China is estimated to grow by 20 percent annually from 2015 to 2020, a record pace for a country that has been grappling with a slowdown in global trade growth.
China’s trade surplus with the rest of the world rose from $939 billion in 2015 to $2.9 trillion in 2020, according to the study.
India’s trade also increased by 20.4 percent in the same period, to $1,664 billion.
In the United States, the study predicts that China’s total trade surplus will grow to $5.7 trillion by 2030.
“China is now one of the major trading partners of the United Kingdom, the United Arab Emirates, Australia and the European Union,” said Dr. Anand Sharma, head of the research team at the Institute of International Economic Relations in Mumbai.
“Its growing influence will become even more prominent in the future.
We expect China to become one of India’s biggest trading partners in the coming years.”
India’s trade and capital outflows from the region have also been growing in recent years.
The country has seen a significant rise in capital outflow, which the IMF estimates will reach $6 trillion by 2020.
India has also seen a steady growth in capital inflows to other parts of the Asia-Pacific region, especially China.
India, for instance, has seen the fastest rise in its outflows to China since the early 2000s, reaching $964 billion in 2016.
India and China’s growing economic ties have helped them overcome regional rivalries and other regional challenges.
India is building up its infrastructure in the Middle East and Africa, while China has become a global leader in the construction of high-speed rail links between China and other countries.
China’s rise in the Asia Pacific has been welcomed by India’s ruling Bharatiya Janata Party, which has been promoting greater economic integration in the Indian subcontinent.
India is also pushing for greater trade and economic cooperation with Japan, which it considers its biggest trading partner.
Japan has become India’s largest trading partner in recent times, overtaking China in 2017.
But India is still grappling with regional issues, including a dispute over disputed islands in the South China Sea and a dispute with Beijing over ownership of two islands in Vietnam.
India and China have also engaged in a proxy war over Kashmir.
Chinese President Xi Jinping has called for an end to the “tremendous tension” in the Indo-Pacific, and for India to “respect and promote regional peace and stability.”
The IMF’s study said that the rise of China’s global trade is also a factor in its emergence as a regional power.
India will become a more important regional player in the years ahead.