Anthropogenic aerosol particles partially mask global warming driven by greenhouse gases, both directly by reflecting sunlight back to space and indirectly by increasing cloud reflectivity. In recent decades, emissions of anthropogenic aerosols have declined globally and at the same time shifted from the North American and European regions, foremost to Southeast Asia. Using simulations with the Max Planck Institute Earth System Model version 1.2 (MPI-ESM1.2), we find that the direct effect of aerosols has continued to increase despite declining emissions. Concurrently, the indirect effect has diminished in approximate proportion to the emissions. In this model, which employs parameterized aerosol effects with constant regional direct effect efficiency, the enhanced efficiency of aerosol radiative forcing in emissions is associated with less cloud masking, longer atmospheric residence times, and differences in aerosol optical properties.