ESCAP launches Economic and Social Survey of Asia and the Pacific: Year-end Update

A throng of shoppers in Myungdong, downtown Seoul, by UN Photo/Kibae Park

Falling Demand and lower growth will have greatest impact on regions poorest - the road ahead for Asia and the Pacific

Falling demand in the developed world has led to a broad-based economic slowdown in Asia and the Pacific, lowering economic growth forecasts.

The impact of slowdown will challenge regional inclusive and sustainable development with job growth and household income predicted to decline. UNESCAP estimates that, by 2013, 14 million fewer people in the Asia and Pacific region would be able to escape poverty at the $2-a-day poverty line.

More economies will move towards undertaking domestic supportive measures, such as well-designed fiscal and monetary stimulus as larger economies such as China and India, who proved resilient during the early part of the global economic crisis, are now unable to provide existing levels of support.

Regional economic predictions and social impacts are outlined in the Year-end Update of the UNESCAP annual flagship publication, the Economic and Social Survey of Asia and the Pacific 2012.

What: Launch of the Year-end Update of the Economic and Social Survey of Asia and the Pacific 2012

When: 2:00 PM, Friday December 14

Where: Foreign Correspondents Club of Thailand (FCCT), Penthouse, Maneeya Center Building, 518/5 Pleonchit Road, Phatumwan, Bangkok

Who:
Dr. Anisuzzaman Chowdhury, Director, Macroeconomic Policy and Development Division of UNESCAP
Dr. Aynul Hasan, Chief, Development Policy Section, Macroeconomic Policy and Development Division of UNESCAP