The pace of economic expansion in Asia and the Pacific has slowed considerably in recent years; with the outlook clouded by uncertainty, growth is expected to plateau at about 5% for both 2016 and 2017. Sluggish exports played a significant role in this slowdown, but so did moderate domestic demand. Worse, a confluence of downside risks could lead to further moderation in the pace of growth.
This working paper presents the results of a desktop review. It provides an overview of the current state of TVET in the Asia-Pacific region. In it we describe the characteristics that make up national systems of technical and vocational education and training (NSTVET). This includes its policy and funding mechanisms, its responsiveness to the needs of stakeholders and its inclusiveness or otherwise in diverse societies.
This report provides an overview of the various existing and proposed unemployment protection schemes in Asia. These schemes play a key role for women and men of working age by stabilizing their incomes in the event of unemployment.
Developing economies of the Asia-Pacific region grew by an estimated 4.5 per cent in 2015, the lowest rate since 2010, with only a modest rebound to 5 per cent growth projected for 2016. While global trade and China’s economy explain much of the recent slowdown, there are also signs of weakening productivity growth in the region. Compared to the past, lower interest rates and exchange rate depreciations have had less noticeable impact on domestic activity and exports. Meanwhile, rapid increases in household and corporate debt in some countries pose risks for financial stability.
The Asia-Pacific Development Journal is published twice a year by the
Economic and Social Commission for Asia and the Pacific.
Its primary objective is to provide a medium for the exchange of knowledge,
experience, ideas, information and data on all aspects of economic and social
development in the Asian and Pacific region. The emphasis of the Journal is on the
publication of empirically based, policy-oriented articles in the areas of poverty
alleviation, emerging social issues and managing globalization.
China has grown to become an economic powerhouse and engine of global demand. However, China’s projected GDP growth rates are now anticipated to remain below 7% per annum over the next five years. This issue of Trade Insights examines how the ‘new normal’ of lower economic growth in China will impact on the prospects for trade in the Asia-Pacific region.
The Asia-Pacific Development Journal (APDJ) is published twice a year by the Macroeconomic Policy and Development Division of the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
The primary objective of the APDJ is to provide a platform for the exchange of knowledge, experience, ideas, information and data on all aspects of economic and social development issues and concerns facing the region and to stimulate policy debate and assist in the formulation of policy.
This discussion paper "Polarizing world: GDP, development and beyond" was prepared for ESCAP by Michael Shashoua and Sudip Ranjan Basu. Michael Shashoua is a PhD fellow at Rice University, USA; and Sudip Ranjan Basu is Economic Affairs Officer, Macroeconomic Policy and Development Division, ESCAP.
This discussion paper "Financing Sustainable Development – What Can We Learn from The Australian Experience of Reform?" was prepared for ESCAP by Wayne Swan, Member of Parliament, formerly the Deputy Prime Minister and Treasurer of the Commonwealth of Australia.