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Economic and Social Survey of Asia and the Far East 1970

image of Economic and Social Survey of Asia and the Far East 1970

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.

English

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Problems and prospects of the ECAFE region in the second development decade

The ECAFE region enters the Second United Nations Development Decade on a mixed note of hope and anxiety. The First Development Decade witnessed a number of encouraging developments in the region which give cause for optimism about its prospects in the future. At the same time, there were certain disquieting trends, generating a feeling of uncertainty and apprehension. Among the bright features, perhaps the foremost in significance was the breakthrough in agriculture in a number of developing ECAFE countries. This was not only the major factor in improving their growth performance but also helped the over-all development effort in a number of ways. The developing ECAFE countries were also able to bring about an appreciable rise in the level of savings and investment and financed a greater proportion of their development expenditures from their own resources. The process of industrialization was carried a stage further and this imparted greater strength to their economies. Simultaneously, there was considerable strengthening of the basic infrastructure which should facilitate growth in future years. The administrative capacity of the Governments to implement planned programmes of development recorded noticeable qualitative improvement and the commitment to planning as an organized method of economic management gained further respectability.

English

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