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Inclusive, Balanced, Sustained Growth in the Asia-Pacific (Paperback, New ed.)
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Inclusive, Balanced, Sustained Growth in the Asia-Pacific (Paperback, New ed.)
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The recovery of the Asia-Pacific region from the global economic
crisis of 2008-2009 is underway but incomplete. Risks range from
slow growth and persistent unemployment to re-emerging
international imbalances and financial volatility. While early
policy responses to the crisis were successful in avoiding a larger
calamity, new policy strategies are now needed to resolve
imbalances among the United States, China, and other economies, and
to build robust demand in the medium term. This report, drafted by
an international team of experts for the Pacific Economic
Cooperation Council (PECe, provides a policy framework for
completing the recovery and achieving sustained growth beyond it.
The report identifies priorities for replacing stimulus programmes
with structural reforms, and for launching new growth engines to
drive investment and employment throughout the Asia-Pacific region.
Led by Professor Peter Petri (Brandeis University/East-West
Center), the team included eminent scholars from China, Japan, the
United States and other countries. The report presents a regional
strategy as well as separate, detailed analyses of the challenges
facing China, Advanced Asia, Southeast Asia, North America, and
South America. It concludes that inclusive, balanced, sustained
growth in the region is feasible, but will require structural
reforms that change economic relationships within economies and
among them, and substantial international cooperation in
implementing coherent national policies.
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