The major emerging economies of Asia—ASEAN, People's Republic of China (PRC) and India (ACI)—are major economic drivers of Asia and to a certain extent the world. They are the world's manufacturing hub, a major global production and trade center, the core of the outsourcing industry, and a major financier. As ACI economies continue to rise and its importance in the world affairs expands, the quality of its growth within and among countries is expected to have implications in achieving a balanced, sustainable and resilient Asia and the world. The rise of ACI will have profound implications for Japan as well as other Asian economies, offering significant opportunities as well as challenges. As Japan is one of the most important economies in Asia and the world the competition and cooperation between Japan and a rising ACI will have significant implications not only for Japan and ACI but also for the rest of Asia and the world. It may create competition and rivalry if proper measures for effective partnership, cooperation, and integration are not adopted.

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