English

Shock-Proofing Asia’s Economies

Rapid GDP growth, significant fiscal room for maneuver, and increasing economic cooperation make the Asia-Pacific region’s prospects for 2012 brighter than almost anywhere else. If its economies build resilience and pursue a sustainable pathway to shared prosperity, the region will thrive, despite sustained global uncertainty.

BANGKOK – Uncertainty and volatility have quickly become the “new normal” of the global economy. For several reasons, this turbulent external environment poses the most significant threat to Asia-Pacific growth in 2012.

One of this environment’s main features is the ongoing weakness of major developed economies. The expected V-shaped global recovery, from the depths of the 2008 financial crisis, proved short-lived. The world economy entered a second stage of crisis in 2011, owing to eurozone’s sovereign-debt crisis and continuing uncertainty about the economic outlook for the United States.

Mapping the landscape of these threats, forecasting their impact, and presenting a range of policy options to help countries to ensure inclusive and sustainable growth despite the uncertainty, is the focus of the United Nations’ 2012 Economic and Social Survey of Asia and the Pacific.

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