Introduction

1958 was in general a year of moderate economic setbacks in Asia and the Far East, but happily it ended better than it began. Temporary difficulties in many of the countries, including unfavorable weather conditions in the autumn of 1957, touched off more adverse repercussions than their economies had the momentum to take in their stride. The “creeping recession” in Japan, following the halt which had to be called to the Japanese boom in mid-1957, not only slowed progress in this major industrial country of the region but reduced considerably the primary exports of the other ECAFE countries. In India, the foreign exchange stringency continued to act as a brake on the planned industrial advance. Average consumption levels throughout the region were, if anything, lowered.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities