Economic and Social Survey of Asia and the Far East 1958

image of Economic and Social Survey of Asia and the Far East 1958

This latest edition of the Survey analyzes current economic and social developments in the region against the background of events in the world economy. It also focuses on the serios problems of growth and transformation of the area's least developed and Pacific Island developing economies.




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.


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