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.
Bhutan, located in the eastern Himalayas, is a small landlocked country between the People’s Republic of China (PRC) and India. Virtually the entire country is mountainous. Despite challenging geography and limited connection to the global markets, the country managed to ignite and sustain strong economic growth by unlocking its hydro potential.
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.
“Inclusive growth” and “green growth” are two buzzwords that we often hear in the development sphere nowadays. This is not surprising since these two form key part of many development strategies. While Asia has done extremely well in expanding its economies in the last two to three decades, rapid growth has brought with it rising inequality—within and across countries. It has also badly damaged the environment along the way.
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?