East Asia and the Pacific Confronts the “New Normal”

Nehru, Vikram

World Bank, Washington, DC

关键词: ADB;    ADVANCED COUNTRIES;    ADVANCED ECONOMIES;    ADVERSE EFFECTS;    ADVERSE IMPACTS;   

RP-ID  :  55945

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

Developing East Asia is leading theglobal economic recovery, although performance varies acrossthe region. In some countries, the monetary stance isalready being tightened in light of emerging inflationarypressures; but it is premature to withdraw the fiscalstimulus until the global recovery is on a firmer footing.Fortunately, most countries in the region have adequatefiscal space and relatively low debt burdens. To ensure thatthe momentum of the recovery transitions into sustainableand inclusive growth over the medium term, the governmentsin the region must once again focus their attention onmedium-term structural reforms. This means different policypriorities in different countries especially given thediversity of the region. In addition, the region faces twocommon priorities regional economic integration and climatechange. Making progress on both fronts will be critical tothe region's medium-term prospects.