After living much of the past decade in China and Japan, I have some thoughts...
Asia is a pretty big and diverse place and it's hard to generalize the region as a whole. Japan and Korea are each unique. Development in Guangzhou and Hainan have different driving forces and investment dollars than Shanghai and Beijing. In China, development firms and membership are made up of a diverse group and mainland Chinese are often the minority. Hong Kong, Singapore, Korea, Japan, Taiwan firms all have stakes in most developments in China.
I guess the better question now is will there be designs in China that will stand with the great courses today that don't include the Pirates of the Caribbean theme park that come with most developments.
I hope so.
You'll need a few great pieces of property and a developer who is interested in golf for golf, not for the villas that line the courses and the bubble in values that membership will create. An architect who is not on the PGA tour or on IMG's payroll that spends a good chunk of time on site would probably help as well.
Despite good land available, I believe there is still a risk in developing on arable land in China (and Vietnam) because at least in theory government policies are agriculture first. I may be underestimating the power of money and guanxi (relationships) but it feels like it's still a factor.