In this article, we take a look at the 5 most powerful countries in Asia in 2023. For more such countries, go to the 15 Most Powerful Countries in Asia in 2023.
5. South Korea
GDP Ranking: 4
Global Firepower Index Ranking: 4
CEO World Index Ranking: 7
Average Ranking: 5
South Korea is one of the most powerful countries in Asia in 2023. Like Taiwan, South Korea dominates the chip industry with companies like Samsung.
Apart from having a huge economy, South Korea also boasts a strong military, with over 1,600 aircraft, including 402 fighters, of which over 40 are fifth generation F35 stealth fighters, 2,331 tanks and 97 naval vessels, including two helicopter carriers.
4. Japan
GDP Ranking: 2
Global Firepower Index Ranking: 6
CEO World Index Ranking: 3
Average Ranking: 3.6
Japan is the third biggest economy in the world, and the second biggest in Asia. However, its economic growth has remained slow over the years since the crash of asset price bubble in the early 90s. However, Japan remains a key player in global affairs, owing to its economic, military and political strength.
The Japanese military operates 1,451 aircraft, 217 of which are fighter jets, including a fleet of the fifth generation F35s, over 1,000 tank units and 77 naval vessels, including 4 helicopter carriers. Japan is also a member of the G10, allowing the country to exercise significant power over global economic affairs.
3. India
GDP Ranking: 3
Global Firepower Index Ranking: 3
CEO World Index Ranking: 4
Average Ranking: 3.3
India is the third most powerful country in Asia, going by a combination of military, economic and political power. As of 2023, the Indian military operates 2,210 aircraft, including 577 fighter jets, nearly 5,000 tanks and 200 naval vessels, including 2 aircraft carriers, that allow the country to project power in the Indian ocean.
In terms of political power, India is an important member in BRICS and QUAD. India also has a highly developed services sector, accounting for 47.5% of the country’s GDP. India received 3% of China’s lost share to US exports back in 2019, as noted by the Rabo Bank.
2. Russia
GDP Ranking: 5
Global Firepower Index Ranking: 1
CEO World Index Ranking: 2
Average Ranking: 2.6
Even though the UN classifies Russia as a European nation, 77% of it is in Asia and the country is highly active in Asian geopolitics and geoeconomics. Russia has the strongest military in Asia, and has the fifth biggest GDP in the region. It is also one of the most advanced countries in offensive cybersecurity. In addition, Russia is a permanent member of the UN security council with veto power, allowing the country to have a significant say in global affairs. Russia is also an important member of BRICS.
1. China
GDP Ranking: 1
Global Firepower Index Ranking: 2
CEO World Index Ranking: 1
Average Ranking: 1.3
China is the second most powerful country in the world after the US, and the most powerful in Asia. It has the biggest GDP size in the region and the country is considered the manufacturing hub of the world.
China’s share in the global knowledge-and-technology-intensive industries’ output was 25% as of 2019, making the country extremely important on the global scene when it comes to technological progress.
In terms of its military assets, the Chinese military operates nearly 5,000 tanks, 388 naval vessels, including two aircraft carriers and three helicopter carriers, and more than 3,000 aircraft, with fighters comprising just over 1,000 of them. China is another permanent member of the UN security council with veto power. In addition, it is an influential member of BRICS.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 25 Most Powerful Countries in Europe and 23 Most Powerful Countries in the World Heading into 2023.
