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Economic and Social Survey of Asia and the Far East 1972

image of Economic and Social Survey of Asia and the Far East 1972

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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Growth, unemployment and mass poverty

The Strategy of the Second Development Decade stated that the average annual rate of growth of the gross product of developing countries should be at least 6 per cent, aiming at a higher rate in the second half of the decade. The Expert Group on Criteria, Machinery and a Detailed Scheme for Periodic Performance Evaluation during the Second Development Decade added that the rapid reduction of mass poverty was of overriding importance in the region and should be listed as a special goal, and for some countries as possibly the most important one. The Expert Group emphasized that, in the long run, a rapid and sustained reduction in mass poverty required a high and sustained rate of growth in production, but that reduction of unemployment and more equitable income distributions were urgent means for improving the situation immediately.

English

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