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It Is The 15Th Edition Of The Annual Comprehensive Economic Report On The Developing Countries Of The Asian Development Bank (Adb). Provides Detailed Analysis And Assessment Of Macro-Economic Trends For 41 Asian And Pacific Economics For 2002, Projections For 2003 And 2004. Provides Broad Diagnosis Of Macroeconomic Conditions, Growth Prospects, Progress In Poverty Reduction. Also Contains A Theme Chapter Addressing The Issue Of Competitiveness.
Developing Asia is maintaining steady growth momentum. Despite recovery in the major industrialized economies falling short of expectations, the region is on track to meet its favorable forecasts as policy stabilizes investment in the People’s Republic of China and signs emerge of a long-awaited turnaround in India. Inflation is held in check across most regional economies by benign international commodity prices, subdued domestic demand, and prudent policy. Even if global liquidity tightens earlier in 2015 than anticipated, its effect on developing Asia should be modest. Asian Development Outlook 2014 Update reviews global value chains and how these cross-border production networks have enhanced income and employment in East and Southeast Asia. It considers what policy makers can do to encourage their improvement and spread to other parts of Asia and the Pacific.
The Asian Development Outlook 2011 Update expects developing Asia to sustain its robust growth over the next 2 years, despite the tepid outlook for the United States, the eurozone, and Japan. The region will be buttressed by healthy domestic demand and buoyant intraregional trade. Managing inflation has to be a key focus for policy makers, to allow for inclusive growth. Such growth includes the elderly, who are all too often left behind as Asia's traditional family networks weaken. As the elderly will form an ever-larger share of the region's population over the next few decades, states will have to ensure their economic security---and meet the wider economic implications for society.
Steady growth endures in developing Asia despite external slack. Half-year results prompt this Update to affirm overall growth projections published in March in Asian Development Outlook 2016. External weakness is offset by resilient domestic demand in large regional economies led by the People's Republic of China, where policy regulates growth moderation as the economy restructures, and India, where progressive reform backs energetic expansion. Risks to the outlook include continued doldrums in the industrial economies, uncertainty about their monetary policies affecting capital flows, and rising rhetoric against free trade. Within the region, mounting private debt could sour under economic shock. And natural disasters, though impossible to predict, pose ever greater risks in view of climate change and Asia's outsized vulnerability. Asian policy makers are willing partners in the global effort against climate change. But the region can and must go beyond current national pledges to reduce greenhouse gas emissions and hold global warming short of catastrophe. This Update explores the options toward achieving this vital goal, highlighting that the benefits to developing Asia far outweigh the costs of its transition to low-carbon growth.
The Asian Development Outlook 2010 Update provides recent economic forecasts for countries in the region. Since the release of the ADO2010 in April this year, developing Asia's performance has strengthened further. This Update raises the 2010 growth forecast to 8.2% on the back of strong results in the first half of the year.
After a disappointing 2019, growth prospects in developing Asia have worsened under the impact of the current health crisis. Signs of incipient recovery near the turn of this year were quickly overthrown as COVID-19 broke out in January 2020 in the region’s largest economy and subsequently expanded into a global pandemic. Disruption to regional and global supply chains, trade, and tourism, and the continued spread of the outbreak, leave the region reeling under massive economic shocks and financial turmoil. Across Asia, the authorities are responding with policies to contain the outbreak, facilitate medical interventions, and support vulnerable businesses and households. Assuming that the outbreak is contained this year, growth is expected to recover in 2021. Especially to face down fundamental threats such as the current medical emergency, innovation is critical to growth and development. As some economies in developing Asia challenge the innovation frontier, many others lag. More and better innovation is needed in the region to sustain growth that is more inclusive and environmentally sustainable. Five key drivers of innovation are sound education, productive entrepreneurship, high-quality institutions, efficient financial systems, and dynamic cities that excite knowledge exchange. The journey to creating an innovative society takes long-term commitment and hard work.
Renewed COVID-19 outbreaks and uneven vaccination progress are prolonging the fight against the disease in developing Asia. This is contributing to a divergence in growth paths in the region that is partly being determined by the progress on tackling COVID-19. Asian Development Outlook 2021 Update raises regional growth forecasts for East Asia and Central Asia, and revises them down for South Asia, Southeast Asia, and the Pacific. The main risks to the region's economic prospects still center on the pandemic, particularly the emergence of new variants, lagging vaccine rollouts, and waning vaccine effectiveness. As economies recover from the pandemic, the threats of climate change will take center stage again. Sustainable food production and agricultural systems that are resilient to climate change will be crucial for developing Asia. To transform agriculture in the region, its economies must tackle challenges from changing consumer demand, changing demographics, and a changing and more fragile environment.