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Economic and Social Survey of Asia and the Pacific 1974

image of Economic and Social Survey of Asia and the Pacific 1974

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.

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The international situation and its implications for the region

In surveying the economic and social developments of the developing ESCAP region over the past half-decade, this Review emphasizes several problem areas requiring “high priority” in consideration and in action. In these areas, difficulties of an extraordinary nature are being experienced by many of the developing countries in the region. They have compounded the failure of economic growth to provide adequate social justice in spite of all development efforts. Indeed, mass poverty and underemployment prevail—in some parts of the region to a distressing degree. The recent trends in local and indeed global food supply, in terms of trade and real resource flows, have considerably worsened this situation. As well as contributing to the immediate problems of famine, these developments have caused critical foreign exchange shortages, slowed and in some cases totally disrupted development planning, and posed serious threats to welfare and stability. Different countries have been variously affected by such trends, particular distinctions being notable between the oil-producing countries, the other raw materials-exporting countries, and those with neither oil nor other lucrative exports to reverse their serious balance of payments deficits. However, few have escaped the dislocative effects of such developments which have often been beyond their control.

English

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