Preface

The developing economies of the Asian and Pacific region currently account for about a third of the world’s output, and they are quickly reaching an economic status on par with that of the combined share of developed economies in North America and Europe. The convergence in output is likely to continue in coming years despite a narrowing growth differential between developing Asia-Pacific economies and the developed global economies. At the current pace, the region’s share in the global economy is expected to exceed one half by 2050, when it regains the position it had held prior to the Industrial Revolution. Not surprisingly therefore what Asia and the Pacific does now influences the rest of the world more than in the past when the region was primarily affected by external developments.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities