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This article talks about how the middle class in Asia can help the Pru meet its ambitious targets. Prudential intends to generate 10bn of cash over the next four years. The Pru is saying it is now well
past the point where its Asian operations are a consumer of cash from the UK and the US. The division generated 484m of cash last year; the new plan aims for 900m-1.1bn in 2017. The Insurance in Asia is a more promising prospect than banking. That's a reasonable view. The Pru, a decade after cutting its dividend for the only time since 1914, now looks to be a formidable cash machine.
launched wars of hegemony that ended in disaster. When you try to gain hegemony with one bold roll of the iron dice, others will gang up to stop you. By contrast, slow, steady accretions of power are less likely to trigger a balancing response, and they also avoid the inherent uncertainties of open warfare. America's rise to regional hegemony remains the textbook case on how to establish a dominant position without fighting a major war. And take note: The task of expelling other powers from the Western Hemisphere was easier because Britain and France were operating far from their home territory and ultimately concluded that staying in the Western Hemisphere wasn't as important as trying to keep Germany from dominating. A lot depends on how America's current (and potential) allies respond and also on whether the U.S. national security establishment can reach an enduring consensus on the priority to be given to Asian security in general and China in particular. That consensus seemed to be emerging during President Barack Obama's first term, but the energy behind the "pivot" seems to have dissipated as the administration has re-engaged in the Middle East maelstrom. No doubt Vice President Joe Biden will try to straighten things out when he visits the region this week, but long-term success will depend on a lot more than the occasional top-level fly-in.