Key Points: Shanghai’s per capita GDP is equal to those of high-income countries. The percentage of young people in large cities is higher than at the country level. There are concerns about the acceleration of population aging in the regional areas and agricultural villages in the near future. The future of the economies of East Asia (China, Asian Newly Industrializing Economies (NIEs) and the Association of Southeast Asian Nations (ASEAN)) depends on the cities. Back in 1950, the percentage of urbanization (the rate of the urban population to the total population) in East Asia was just 17%, well below the global average of 30%. At that time, cities were exceptional areas in East Asia. The percentage of urbanization subsequently rose rapidly, however; it surpassed 50% in 2010 and hit 57% in 2015, exceeding the global average of 54%. East Asia shifted from a rural ... ... [Read more]