Curtis S. Chin, a former U.S. ambassador to the Asian Development Bank, serves as managing director of the advisory firm RiverPeak Group. Jose B. Collazo, an Indo-Pacific analyst, collaborates on these insights. Follow them on X at @CurtisSChin and @JoseBCollazo.
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While 2024, like the previous year, brought challenges for many across the sprawling Indo-Pacific region, glimmers of hope and moments of joy persisted amidst economic uncertainties and enduring geopolitical tensions.
This reflection explores who faced adversity and who found success across Asia and the Pacific in 2024, as the region anticipates the return of Donald Trump to the U.S. presidency in 2025 and prepares for the potentially tumultuous Year of the Snake on the lunar calendar.
Worst Year: Asia’s Climate Casualties
Asia, known for its vulnerability to natural disasters, endured a devastating 2024, with thousands of lives lost to escalating climate-related catastrophes. Unlike the 2004 Indian Ocean earthquake and tsunami that killed over 200,000 people, 2024’s tragedies stemmed from a relentless onslaught of typhoons, floods, heatwaves, and droughts.
Among the most severe events was Super Typhoon Yagi, which struck Southeast Asia in November. Spanning the Philippines, southern China, Vietnam, Laos, Thailand, and Myanmar, the storm left hundreds dead and countless communities shattered.
Additionally, monsoon rains wreaked havoc in Afghanistan, Bangladesh, Pakistan, India, and Nepal, stranding millions and claiming hundreds of lives. Where rain spared some regions, scorching droughts caused water shortages that persisted for months.
With extreme weather events increasingly frequent, their victims often overlooked, Asia’s climate casualties regrettably earn the title of the Worst Year in the region.
Bad Year: East Asia’s Declining Birth Rates
East Asia faced another troubling year as its fertility crisis deepened. Nations such as South Korea, China, Japan, Taiwan, and Hong Kong continued to grapple with record-low birth rates.
The implications of this demographic shift, including shrinking workforces and aging populations, threaten long-term economic stability.
Contributing factors include shifting gender roles, demanding work hours, and the escalating costs of housing, education, and childcare. By the end of 2024, South Korea officially joined the ranks of "super-aged" societies, with citizens aged 65 or older comprising 20% of its population. The persistent decline in birth rates left prospective grandparents and societal planners with little to celebrate.
Mixed Year: Democracy and Incumbency in Asia
Elections dominated 2024 across Asia, delivering both triumphs and turmoil for democracy. In Bangladesh, Prime Minister Sheikh Hasina initially retained power in a contested election, only to resign amid widespread protests.
In South Korea, political instability reached new heights when President Yoon Suk-Yeol declared martial law in December, citing threats from the North and accusing opposition forces of being "anti-state." The National Assembly swiftly moved to lift martial law and impeach him, leaving his fate in the hands of the Constitutional Court.
Elsewhere, democratic processes yielded a range of outcomes. Taiwan celebrated vibrant elections, while India’s Narendra Modi faced the challenges of coalition governance. In Indonesia, a peaceful transition of power saw former General Prabowo Subianto assume the presidency. These contrasting trajectories underscore democracy’s resilience and fragility across the region.
Good Year: The Rise of the Korean Wave
The phenomenon of Hallyu, or the Korean Wave, continued to dominate global pop culture in 2024. From K-pop hits and K-dramas to K-beauty products and K-food, South Korea’s cultural exports reached unprecedented levels.
Streaming platforms like Netflix offered over 300 Korean movies and series, with global sensations such as Squid Game Season 2 and Queen of Tears captivating audiences worldwide.
Adding to the accolades, South Korean author Han Kang became the first Asian woman to win the Nobel Prize in Literature. Meanwhile, the economic impact of Hallyu is projected to soar to $198 billion by 2030, solidifying its status as a cultural and financial powerhouse.
Best Year: Moo Deng, Thailand’s Viral Sensation
The crown for the Best Year in Asia goes to Moo Deng, a baby pygmy hippopotamus born in July at Thailand’s Khao Kheow Open Zoo. Affectionately named “Bouncy Pork” in Thai, Moo Deng became a global sensation, thanks to her adorable photos, memes, and videos.
Social media platforms buzzed with fan accounts, while even Saturday Night Live featured a parody of the viral hippo.
Moo Deng’s popularity transcended borders, attracting thousands of visitors daily and boosting the local economy. The zoo capitalized on her fame with themed merchandise and brand partnerships.
Adding to her allure, Moo Deng playfully “predicted” Donald Trump’s win in the 2024 U.S. presidential election, further cementing her status as an icon.
While 2024 may have been the Year of the Dragon in the lunar calendar, for many, it was the Year of the Hippo, thanks to Moo Deng’s ability to bring joy and hope to a world in need.
As 2025 approaches, the Indo-Pacific region holds on to optimism for a brighter, more resilient future.
