World Bank East Asia and Pacific Economic Update

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https://hdl.handle.net/10986/14469

The World Bank East Asia and Pacific Economic Update is the World Bank's comprehensive, twice-yearly review of the region's economies prepared by the East Asia and Pacific regional unit of the World Bank.

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World Bank East Asia and the Pacific Economic Update, October 2023: Services for Development
(Washington, DC: World Bank, 2023-10-01) World Bank
Most economies in developing East Asia and Pacific (EAP), other than several Pacific Island Countries, have recovered from the succession of shocks since 2020 and are continuing to grow, albeit at a slower pace. While the region will benefit from a recovery of the global economy in 2023, high indebtedness, a slowdown in China economy, and trade and industrial policy in other countries will hurt the region. Looking forward, diffusion of digital technologies and policy reforms in the services sector is posed to create opportunities and play an increasing role in the economic development of the region.
World Bank East Asia and Pacific Economic Update, April 2019: Managing Headwinds
(Washington, DC: World Bank, 2019-04-23) World Bank
Despite global economic volatility, growth in developing East Asia and Pacific (EAP) was resilient during 2018, and in the first quarter of 2019. The growth outlook for developing EAP is expected to soften in 2019, as China's economic expansion continues to moderate. Downside risks remain, including expected moderated global demand, continued trade tensions, the risk of a faster-thanexpected financial tightening in developed economies, the risk of weaker-than-expected growth in China, and continued financial market volatility. Also, or in combination, these risks could weigh on the· region's growth prospects in the short-to-medium term. To manage global and regional headwinds, developing EAP economies should reduce short-term vulnerabilities and enhance buffers, redouble their commitment to an open, rules-based international trade and investment framework, including through deeper regional economic integration, and deepen structural reforms. The intensification of risks underscores the need to continue to enhance economic security by investing in human capital and strengthen social assistance.
World Bank East Asia and Pacific Economic Update, October 2018: Navigating Uncertainty
(Washington, DC: World Bank, 2018-10-03) World Bank
Growth in developing East Asia and Pacific (EAP) was resilient during the first half of 2018. Although the external environment has become less favorable in some respects, the outlook for the region remains positive. After peaking in 2017, growth in developing EAP is expected to slow modestly in 2018, primarily reflecting the continued moderation in China’s economic expansion as its economy continues to rebalance. However, heightened uncertainty has intensified the risks to the region’s outlook. An escalation in trade tensions and heightened financial market turbulence, either due to an acceleration in U.S. monetary policy normalization or contagion from other emerging markets could threaten the region’s growth prospects. To navigate uncertainty, regional economies should reduce short-term vulnerabilities and enhance buffers, redouble their commitment to an open, rules-based international trade and investment framework, including through deeper regional economic integration, and deepen structural reforms. The intensification of risks underscores the need to continue to enhance economic security and promote economic mobility by: expanding and strengthening social assistance and insurance programs; investing in prenatal and early childhood development; and reducing gaps in educational access and quality for disadvantaged groups and in lagging areas.
World Bank East Asia and Pacific Economic Update, April 2018: Enhancing Potential
(Washington, DC: World Bank, 2018-04-11) World Bank
Developing EAP grew slightly faster than anticipated in 2017. The growth of regional GDP excluding China is forecast to remain stable in 2018, while China's GDP growth is expected to moderate as the economy keeps rebalancing. Major downside risks include volatility associated with faster than expected monetary policy tightening in advanced economies and a rising threat of trade restrictions. Developing EAP countries would need to get ready to respond to increasing interest rates and find ways to raise potential growth in the medium run. Specifically, amid the rising risk of protectionism and changes in the global manufacturing landscape, countries should continue to enhance trade facilitation and integration, increase the effectiveness of schools and education systems, and upgrade capabilities to ensure that workers and managers have necessary skills. To provide economic security to the population, policies should focus on strengthening social assistance and insurance programs, and increasing resilience to systemic shocks.
World Bank East Asia and Pacific Economic Update, October 2017: Balancing Act
(Washington, DC: World Bank, 2017-10-03) World Bank
The economic outlook for the developing EAP region remains positive, and will benefit from an improved external environment as well as strong domestic demand. The growth of regional GDP excluding China is forecast to accelerate in 2018, while China's GDP growth is expected to decline in 2018 and 2019, although remain higher than most countries in the region. Poverty is projected to continue its long-term decline. Major downside risks include financial sector vulnerabilities, large fiscal imbalances, and the possible escalation of geopolitical tensions. The improved outlook for global growth provides a window of opportunity for developing EAP to continue to reduce key vulnerabilities and strengthen the foundations for sustained and inclusive growth in the medium term. The region could also benefit from further developing tourism sectors and deepening of regional integration, to offset the emerging global protectionism. And policies to ensure inclusive growth should involve ensuring economic mobility and security for all, going beyond the primary focus on reducing poverty.
East Asia and Pacific Economic Update, April 2017: Sustaining Resilience
(World Bank, Washington, DC, 2017-04-13) World Bank
The region's growth outlook for 2017-19 remains broadly positive. China's growth moderation and rebalancing are expected to continue. In the region's other large developing economies, growth is projected to pick up slightly. Poverty has continued to decline in most countries and is projected to fall further. Global and regional vulnerabilities place a premium on macroeconomic prudence. Mobilizing additional revenues will create space for measures to support growth and foster inclusion. Some smaller commodity-exporting economies need to focus on lowering threats to fiscal solvency. Much of the region may need to adjust accommodative monetary policies. In China, reforms of the corporate sector, including restructuring of SOEs, and measures to bring credit growth under control are critical to reducing vulnerabilities. Elsewhere in the region, improvements in financial supervision and prudential regulation will be required. Developing EAP economies could benefit significantly from improving the quality of public spending, deepening regional integration, and reducing the agricultural sector's increasingly adverse environmental footprint.
World Bank East Asia and Pacific Economic Update, October 2016: Reducing Vulnerabilities
(Washington, DC: World Bank, 2016-10-04) World Bank
Growth in developing East Asia Pacific (EAP) has remained broadly stable in the past 6 months. It is expected to decline gradually during 2016-18, driven entirely by the ongoing slowdown in China, partly offset by a pick-up in the large ASEAN economies. This outlook is subject to elevated risks, and it is critical to address underlying vulnerabilities. China should continue measures to bring the growth in debt under control. Among other large economies, risk can be reduced through enhanced micro- and macroprudential policies. Across EAP, maintaining fiscal buffers is a priority; in Mongolia, Timor-Leste, and to a lesser degree Vietnam, substantial consolidation is needed. Over the longer term, China should maintain its commitment to rebalancing toward consumption-led growth. Across the rest of EAP, enhanced expenditure on infrastructure must be accompanied by measures to improve its efficiency. Boosting inclusion will require a focus on reducing undernutrition, harnessing technology to transform financial services, and exploiting innovations in social protection to reduce vulnerability to shocks. The East Asia Pacific Economic Update provides biannual analyses of development trends and economic policy issues across the East Asia and Pacific region.
World Bank East Asia and Pacific Economic Update, April 2016: Growing Challenges
(Washington, DC, 2016-04-10) World Bank
In the past 6 months, developing East Asia and Pacific has faced a challenging external environment, but growth has generally remained resilient. Over the next 3 years, growth is expected to ease modestly. China will continue its gradual shift to a more sustainable growth path. Some economies will be affected by low commodity prices and weaker external demand. This outlook is subject to elevated risks. Countries should prioritize monetary and fiscal policies that reduce their exposure to risks and strengthen market confidence. In China, there is a need to reduce leverage. In several countries, action is required to enhance transparency, strengthen accountability, and redefine the role of the state. Efforts to reduce barriers to trade should be redoubled, with a particular focus on non-tariff measures and regulatory barriers, including to trade in services. The region must increase its readiness to benefit from the digital revolution, and in particular develop the essential “analog complements” to digital technologies.
World Bank East Asia and Pacific Economic Update, October 2015: Staying the Course
(Washington, DC, 2015-10-05) World Bank
The East Asia and Pacific Economic Update provides regular, biannual analyses of development trends and economic policy issues across the East Asia and Pacific region
World Bank East Asia and Pacific Economic Update, April 2015: Adjusting to a Changing World
(Washington, DC, 2015-04-15) World Bank
The East Asia and Pacific Economic Update provides regular, biannual analyses of development trends and economic policy issues across the East Asia and Pacific region.