Economic and Social Survey of Asia and the Pacific 2010: Sustaining recovery and dynamism for inclusive development
After the first global economic contraction in recent history, a rebound began to take shape among Asian and Pacific countries. The regional rebound remains fragile and uneven with a number of downside risks. Turning it into a sustained recovery will make 2010 a year of complex policymaking, far exceeding that of emergency crisis management in 2009, with rising inflationary tendencies and asset bubbles.
The global crisis has exposed underlying structural imbalances built up over decades. Reorienting the macroeconomic structure in fairer, more balanced and inclusive channels of development will help sustain the recovery once fiscal stimulus policies have done their job. Redressing the multiple imbalances will enable the Asia-Pacific region to drive its own development and create new sources of economic growth from within. In such a radically altered panorama, the long-awaited arrival of the region as a central participant in global economic relations is on the horizon. But fulfilling this potential requires an ambitious regional policy agenda.
The 2010 edition of the oldest and most comprehensive annual review of economic and social development spanning all economies in this vast and diverse region, the Economic and Social Survey of Asia and the Pacific 2010 assesses the critical issues, policy challenges and risks that the region faces in the months ahead as it leads the world economy in recovery from a dire recession. It also outlines the elements of a policy agenda for regaining the region’s dynamism through inclusive and sustainable growth.