Abstract: The global economic meltdown has marked a new dawn in the economic interplay between the West and countries in the Asia pacific region. This study is a regional economic excursion at identifying the nature of economic-institutional-changes that pave a way for economic power shift from the West to the Asian region. The study analyses some of the key areas of economic advancement, indices and dynamics of economic recession. Findings show that the Western economies are facing a great economic hardship on one hand, while on the other hand, the economies of the Asia pacific especially the emerging giants are becoming more prosperous and rapidly growing. The study concludes that with the global economic debacle, few years to come, the economies of the Asian emerging giants will outstrip the economies of the west and become the world leading economies. The study recommends a fair competition that would open a way for the development of the third world among other things.