In recent discussions that I have had with decision makers and economists working on People’s Republic of China (PRC), the question on the incoming leadership’s approach to economic reforms inevitably comes up. Is the transition to new leadership a good opportunity to rethink economic policies?
The global financial crisis of 2008-2009 has reignited the debate on the role of macroeconomic policies. The role of macroeconomic stabilization policies can be contentious, especially as the policy room is increasingly limited in most advanced economies.
I have a straight answer and a caveat. The answer is: Definitely Not. The caveat is: integration is a long-term process. Over time, Asia definitely needs to become more integrated in order to sustain its growth as well as its contribution to global growth. In the medium-term, Asia should exert concerted efforts to continuously boost regional cooperation.
A well-developed services sector plays a major role in improving production efficiency and promoting technical progress and innovation. The services sector has expanded rapidly in the People’s Republic of China (PRC) since economic reform was launched in 1979, and particularly after PRC joined the World Trade Organization in 2001. However, the size of the sector as a share of GDP appears to be significantly smaller than expected based on PRC's income level and development stage.
This is not about how to start the Lunar New Year right with proper weight management. Well, not exactly, as this is about thin trade and why thin is not good especially during excessive upswings and downswings of prices for Asia’s main food staple—rice.
Social enterprises have collectively established themselves as a viable and productive sector within the United Kingdom’s (UK’s) economy. There are over 60,000 social enterprises in the country employing at least 800,000 persons.
With Asia’s continuing rise and growing impact on the global economy, regional cooperation and integration (RCI) is expanding, bringing with it both benefits and costs. To sustain region-wide economic growth, an integrated market for the free flow of trade and investment across the region is necessary.
Regional cooperation and integration (RCI) has played an important role in Asia’s growth and development, and will have to play a role in managing the consequences of this ascendancy going forward.
The rise of mega-regionals such as the Regional Comprehensive Economic Partnership (RCEP) and the Trans-Pacific Partnership (TPP) suggest that the world trade system is fragmenting to appear more like a jigsaw puzzle than a spaghetti bowl. How do we resolve the growing mess?
Myanmar opened a new chapter in its history in November 2010 when it adopted its open-economy policy. Since then, an impressive array of reforms have been implemented. However, Myanmar’s sustainable and inclusive growth depends on it maintaining this momentum during its transition —particularly inflows of foreign direct investment.