World Bank East Asia and Pacific Economic Update, October 2022 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook World Bank East Asia and Pacific Economic Update, October 2022 write by World Bank. This book was released on 2022-09-30. World Bank East Asia and Pacific Economic Update, October 2022 available in PDF, EPUB and Kindle. East Asia and the Pacific does not so far conform to the current narrative of stagflation. The region, with some exceptions, is growing faster and has lower inflation than other regions. And prospects for several countries have improved, as they bounced back from the distress of the Delta wave in a still buoyant global economy. But this rosy picture must not obscure four impediments to inclusive and sustainable growth: disease, deceleration, debt, and distortions. In particular, current policies to contain inflation and debt are distorting the markets for food, fuel and finance in ways that could compromise development goals. In each case, more efficient measures could address current difficulties without undermining longer term objectives.
World Bank East Asia and Pacific Economic Update, October 2023
World Bank East Asia and Pacific Economic Update, October 2023 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook World Bank East Asia and Pacific Economic Update, October 2023 write by World Bank. This book was released on 2023-10. World Bank East Asia and Pacific Economic Update, October 2023 available in PDF, EPUB and Kindle. Economic activity in much of developing East Asia and Pacific (EAP), other than several Pacific Island Countries, has recovered from the succession of shocks since 2020 but is now slowing down. Private consumption and the recovery of tourism had sustained growth in the region but is running out of steam. Slowing global growth is leading to a contraction in exports. Public investment and private investment also remain low in much of the region. Most governments in the region are projected to consolidate fiscally in 2023. The revival of growth in the region will depend crucially on the state of the services sectors. Even though manufacturing has powered EAP development, services already account for more than half of value added and employment. A digital revolution is leading to structural change within all services sectors, with the combination of new domestic platform-based services and more internationally tradable services boosting productivity. Harnessing the digital revolution for inclusive economic growth requires deeper services reforms.
World Bank East Asia and Pacific Economic Update, April 2024
World Bank East Asia and Pacific Economic Update, April 2024 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook World Bank East Asia and Pacific Economic Update, April 2024 write by World Bank. This book was released on 2024-04. World Bank East Asia and Pacific Economic Update, April 2024 available in PDF, EPUB and Kindle. Most economies in developing East Asia and Pacific (EAP) are growing faster than the rest of the world but slower than before the pandemic. Slowing global growth, still tight financial conditions, and an increase in trade protection and industrial support in large and rich countries are key aspects of the external environment shaping the region's economic performance. Amplified public and private debt, constrained macroeconomic policy, and increased policy uncertainty are the major domestic issues. EAP's current macroeconomic challenges risk obscuring the microeconomic foundations of longer-term growth. Over the last decade, EAP's growth has been driven by investment and capital deepening rather than by increased productivity of firms. Now private investment is weak and productivity declining†“further inhibiting the incentive to invest. Firms are the protagonists of productivity growth. Some of the weaker firms in EAP countries are beginning to catch up with stronger firms. But the stronger firms in the region are failing to take full advantage of new technologies: regional leaders risk becoming global laggards. Bold policy action to unleash competition, improve infrastructure and reform education with measured state support could revitalize the region's economy.
East Asia and Pacific Economic Update, October 2021
East Asia and Pacific Economic Update, October 2021 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook East Asia and Pacific Economic Update, October 2021 write by World Bank. This book was released on 2021-09-27. East Asia and Pacific Economic Update, October 2021 available in PDF, EPUB and Kindle. "Long COVID: Scars and Opportunity." The title of this report has two meanings. First, that the disease will leave in its wake a durably damaged economy. Second, that the disease is not leaving any time soon and may be here to stay. This duality reflects the two themes of this Update. In the near time, the persistence of the pandemic will prolong human and economic distress unless individuals and firms can adapt. In the longer-term, COVID-19 will reduce growth and increase inequality unless we can remedy the scars and grasp the opportunities created by the pandemic. Accordingly, policy action must help economic agents not just to adjust today but also to make choices that avert economic sluggishness and disparity tomorrow. We begin by addressing three proximate questions: What is happening to the economies? Why? And what can we expect? We then discuss the longer-term impact of COVID-19, on growth through the impact on firms and on inequality through the impact on households.
World Bank East Asia and Pacific Economic Update, April 2023
World Bank East Asia and Pacific Economic Update, April 2023 - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook World Bank East Asia and Pacific Economic Update, April 2023 write by World Bank. This book was released on 2023-03-31. World Bank East Asia and Pacific Economic Update, April 2023 available in PDF, EPUB and Kindle. Economic activity in developing East Asia and Pacific has recovered from the recent shocks and is growing. However, output remains below pre-pandemic levels in many countries and inflation remains higher than target ranges in some countries. Near-term growth will depend on the dynamics of global growth and commodity prices, and financial tightening, which is likely to continue in the face of high inflation in the US. Taking a long-term view, growth in EAP has been faster and more stable than in much of the rest of the world. The result has been a striking decline in poverty and, in the last decade, also a decline in inequality. But it would be a mistake to let these achievements obscure vulnerabilities, past, present, and future. The region must implement structural, macro-financial, and climate-related reforms to address the problems of slowing productivity growth and scars from the pandemic, even as it faces up to the major challenges of deglobalization, aging and climate change.
