Making it easier for people and goods to cross borders has been clearly shown to provide widespread economic benefits. But countries on both sides need to be prepared to take advantage of the new opportunities created.
The pandemic represents a severe challenge for policymakers in Asia. They need a response that will help economies achieve a more efficient and fairer allocation of resources in the economy, enhancing productivity, economic growth and employment.
Wellness provides a more balanced and holistic view of a country’s development than its per capita gross domestic product. A new tool is helping policymakers measure wellness in society.
After a difficult year during the pandemic, there are encouraging signs that workers in the Philippines will not only find employment but thrive in the post-COVID-19 labor market.
Strong remittance inflows should be used as an opportunity to strengthen the systems that help overseas workers and their families back at home.
Governments need to strategically use financing opportunities while safeguarding their economies from the risks of runaway debt and poor debt management.
Post-COVID economic recovery could be delayed in countries with poor track records on governance.
Measuring purchasing power is an effective way to track economic recovery after the pandemic, estimate the real sizes of economies, and gauge poverty.
Vaccination programs and travel bubbles are still in their infancy. They could help revive tourism in Asia and the Pacific but governments need to pave the way with the right policies.
Government assistance programs, and relaxed insolvency procedures, have helped keep businesses afloat during the pandemic.