I like traffic jams. When I find myself – as I often am – at a standstill in Hanoi, Manila or Jakarta, I am reassured all is well. As an economist, the traffic jam is one of the most tangible indicators of economies growing quickly, a burgeoning new middle class rapidly forming - these new middle-income households are purchasing vehicles and scooters for the very first time.

One of the first sights a visitor enjoys of Singapore is one of the earliest policies introduced by Singapore first prime minister, Lee Kuan Yew, to promote the country as a world class city and disciplined economy.

India is on track to rival China as the largest economy in the world in 2075 in real terms - if it can overcome some key hurdles.

Supply side of Asian economy is changing quickly.