Economic and Social Survey of Asia and the Far East 1960

image of Economic and Social Survey of Asia and the Far East 1960

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.




For most countries of the ECAFE region, 1960 represented further improvement, although the rate of progress was not as striking as it had been in 1959 following upon the moderate setback of the preceding year. Agriculture and industry reached record levels of production. Earnings from exports were higher. More imports were obtained and restrictions on foreign trade and payments eased. However, the year ended worse than it began. Export markets turned soft. Harvest prospects indicated only a slight increase. Mainland China had a good harvest in late 1959, although 1960 crops were damaged by reportedly unprecedented natural calamities; the target of 10 per cent increase in agricultural output remained unfulfilled. Its industrial production, however, continued to advance.


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