The opening years of the 21st century seemed to herald the start of a new era. On the back of China's remarkable economic revitalisation, India's reforms, as well as the ongoing growth in South Korea, Taiwan, and ASEAN economies, many argued that the new century belonged to Asia. Is that still the case, or has the gloss come off the Asian century?

Andrew Leigh (Shadow Assistant Treasurer and Federal Member for Fenner, Australia) talks to Professor Nick Bisley (Executive Director of Nick Bisley) about whether the concept still applies and what Asia's development will mean for Australia.