The Greater Mekong Subregion (GMS)—comprising Cambodia, China (Yunnan Province and Guangxi Zhuang Autonomous Region), Lao PDR, Myanmar, Thailand, and Viet Nam—has long been a cornerstone of economic vitality and integration in Southeast Asia. Over recent decades, its development has been shaped by deepening connectivity, expanding trade, and a shared commitment to sustainable growth, resilience, and inclusion.

Yet, as the world enters a period of profound disruption, this progress is increasingly under strain. The prosperity once driven by globalization, market integration, and economies of scale is confronting a new era of uncertainty. Climate change, demographic shifts, and fragmented supply chains are not only challenging existing models but are also reshaping what development means in a rapidly evolving world. Multilateral cooperation—once assumed—now faces renewed scrutiny, and global commitments to sustainability and social equity are faltering.

For the GMS, the implications are profound. How can the subregion mobilize the capital, innovation, and partnerships needed to address climate and social challenges? How can it remain competitive while staying true to its development values amid diverging global priorities and tightening financial landscapes? These are no longer theoretical—they are urgent, defining questions for the region’s future.

In this context, the idea of a “new economy” has taken on renewed significance. Once associated with the digital age, it now reflects a broader transformation—one that places innovation, environmental responsibility, and social inclusion at the center of development. For the GMS, this transformation is expressed through three emerging sectors: the green, care, and creative economies, which together offer a pathway toward a more adaptive and forward-looking model of growth.

At the same time, Society 5.0 offers a compelling vision for navigating these transitions. Conceived in Japan, this framework envisions a human-centered, super-smart society where emerging technologies—especially digital tools—are harnessed not merely for economic advancement, but to solve complex societal challenges. It marks an evolution beyond the information society (Society 4.0), integrating cyberspace and physical space to improve quality of life while keeping people at the center of progress. For the GMS, this vision underscores the need to align digital and energy transitions with inclusive development, ensuring that innovation uplifts rather than excludes.

Each of these sectors offers considerable promise—but also presents distinct challenges. The green economy, particularly through the Circular Economy concept, must navigate resource constraints and the intricacies of transitioning to low-carbon systems. The care economy, increasingly essential in aging and urbanizing societies, requires greater investment, policy reform, and digital integration to ensure equitable access. Meanwhile, the creative economy—rich in cultural assets and entrepreneurial energy—calls for stronger institutional backing, capacity-building, and regional collaboration to thrive.

Despite these headwinds, the GMS has every reason to be optimistic. As Mark Carney articulates in Values, enduring prosperity depends not just on markets, but on how societies define and live by their values. For the Mekong region, this means recommitting to resilience, inclusion, and cooperation—even amid global volatility. Rather than stepping back from its development ambitions, the GMS must instead ask: how can it adapt, innovate, and lead in a world where the rules are still being written?