No one can say that the second largest economy in the world is trapped. Decades of structural change and rapid growth allowed for a swift transition from a low-income to a middle-income country. The challenge today lies in moving up to higher-income status. How could the People’s Republic of China (PRC) avoid the trap?
Developing economies in Asia and the Pacific (developing Asia) have registered remarkable growth over the past few decades. During 1980–2010, developing Asia’s real gross domestic product (GDP) grew 7.1% annually on average, compared to the world average of 2.8%.
This seminar to be held at the 46th Annual Meeting of the ADB Board of Governors today discusses the growing importance of knowledge based economic development for developing Asia.
Two weeks ago I attended the High Level Panel of Eminent Persons (HLPEP) meeting in Bali, which I had anticipated for many weeks. Working on the Asia and the Pacific perspectives of the post 2015 development agenda, the Bali meeting was one of the highlights where I expected to gain more insights into the HLPEP work and the thinking behind it.
ADB is expecting growth to moderate across ADB's Pacific developing member countries (DMCs) this year (including Timor-Leste), mostly as a result of solid but slower growth in a few of the region’s larger, natural resource–extracting economies.
The famous poet Rumi once said, “Your true country is not where you are but where you are going.“ He wanted us to think about the afterlife because what we believe affects our action. But even Rumi could only guess and theorize what lies on the other side. Like the future the afterlife is unknowable.
As I sat through two days of discussions in the first meeting of the G-20 Development Working Group under the Russian Presidency in Moscow in February this year, an uneasy question kept coming to my mind—is the G-20 losing its way?
Global food prices remain high and volatile since the peak during the global food crisis of 2008, exacerbating hunger and malnutrition around the world. High and increasing food prices can be an immediate threat to household food security, undermining population health, retarding human development, and lowering labor productivity for the economy in the long term.
This topic has been much discussed in recent years. The Organisation for Economic Co-operation and Development (OECD) reports argue that capability to innovate and to bring innovation successfully to market is a crucial determinant of global competitiveness.
Can a nation once intentionally isolated from the world be rebuilt from the outside in? After decades of isolation, Myanmar has an extraordinary amount of work to do on every imaginable front. The country needs access to billions of dollars to bring modern irrigation systems to rural farmers, roads and electricity to remote communities, as well as technical and vocational training to prepare the country's youth for the jobs of the future.