Asian countries have a unique opportunity to transform themselves and leapfrog older technologies to lead the global knowledge-based economy of the future, says a new report from the Asian Development Bank (ADB). Asia has a youthful population and large middle-class market. Its strong position in information technology-enabled services and creative goods should allow it to quickly build its knowledge-based economy, benefitting both rich and poor. Asia’s developing economies need to invest more in higher education and training, innovation, information and communication technology (ICT), and in improving their economic institutions to transform and shift beyond middle-income levels, says Innovative Asia: Advancing the Knowledge-Based Economy.