Safeguarding Asia’s Growth
Since the onset of the global financial crisis, Asian economies – bolstered by dynamic growth in China and India – have proven to be resilient. But, as global instability begins to take its toll, Asian countries must pursue preemptive policies to reduce their vulnerability to regional and global shocks.
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SEOUL – Emerging Asian countries should be proud of their economic resilience. Despite a global economy plagued by weak growth, persistently high unemployment, and heavy debt loads, the region’s emerging and developing economies grew at an average annual rate of 6.8% from 2000-2010, propping up global output and buttressing recovery efforts.