For now, Asia does not yet appear to be decoupling from the world economy.
Cyn-Young Park (朴信永)
Ms. Park manages a team of economists to examine policy issues related to developing strategies and approaches to support regional cooperation and integration; and produce the Asian Economic Integration Report. She has been a main author and contributor to ADB’s major publications including, the flagship Asian Development Outlook, Asia Capital Markets Monitor, Asia Economic Monitor, Asia Bond Monitor, and ADB Country Diagnostic Study Series. Ms. Park has also participated in various global and regional forums, and has written and lectured extensively about the Asian economy and financial markets. Prior to joining ADB, she was an economist with the OECD.
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A tightening cycle in US monetary policy is typically bad news for emerging Asian economies.
Women in Asia are on average 70% less likely than men to be employed, a gender gap that persists despite booming economic growth, decreasing fertility rates and increasing access to education in the region, according to a new ADB report.
The establishment of the Millennium Development Goals (MDGs) by the United Nations in 2001 was a defining moment. It rallied a global effort in the fight against poverty, hunger, and disease, while promoting universal education, gender equality, and environmental sustainability. However, new challenges have emerged while remaining ones are complex. Meanwhile, the 2015 deadline for achieving the MDGs is almost upon us, raising the question: where do we go from here?
The US Fed has been winding down its bond purchase program, widely known as “quantitative easing,” since December 2013. The program was introduced in the wake of the 2008 global financial crisis to fight the recession and foster a rapid economic recovery. With the improvement in the US economy, the Fed suggested at its policy meeting in March that the program may end this coming fall and it may start raising interest rates about six months from then.
The effects of global climate change are multifaceted. Pacific nations are highly vulnerable to the impacts, including intensified storm surges, cyclones, and rising sea levels.
As articulated by Cavoli, Rajan, and Siregar (2004) in their survey of East Asian financial integration, financial integration is a multidimensional process closely associated with development of financial markets.
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%.