Developing Asia: Economic Outlook and Future Prospects

5 May 2005 (2:00 p.m. - 500 p.m.)

In recent years, developing Asia has shown resilience in the face of various economic shocks and disasters. The earthquake and tsunami that hit the region towards the end of 2004 had limited adverse impact on regional growth in Asia and the Pacific. Growth in developing Asia is also being supported by the slow but steady economic pick up in industrial countries. The outlook for Asia remains positive, particularly in light of the expected dual emergence of the People's Republic of China and India, and the opportunities this will create for the rest of Asia.

The seminar has two components:

Asian Economic Outlook 2005-2007, which will feature an overview of recent global economic trends and of the region's macroeconomic performance and prospects. An analysis of regional economic trends and the outlook for the developing member countries of the Asian Development Bank will be presented. In particular, developing Asia's performance in the past year will be reviewed and projections of key economic indicators in the short to medium term (2005 - 2007) will be provided. The presentation will be based on the latest issue of ADB's flagship publication, the Asian Development Outlook 2005.

The following issues will be addressed:

• How did the global and regional economy perform last year?


• What are Asia's prospects in the short to medium term?


• What are the risks and uncertainties facing Asia that will impact on its growth potential?

The Dynamics of Long-term Growth and Trade Scenarios in the Asian Region, which will present forecasts for Asian expansion over the next two decades. Economic emergence of the world's two most populous countries is transforming the economic landscape of Asia and portends fundamental shifts in global economic relations. While Asia's traditional trade with the Western OECD continues to expand and intensify, intra-Asian trade is accelerating as the most dynamic economies provide growth leverage to their neighbors. This process is being facilitated by official efforts to liberalize trade and private agency that propagates growth linkages over regional supply networks. Intensified Asian regional integration has the potential to raise incomes among a majority of the world's poor, yet policy makers lack clarity about how trade patterns and domestic adjustments will evolve in the medium and long term.

The following issues will be addressed:

• What are the fundamental determinants of long-term regional growth differences?


• What are the emerging patterns of regional specialization and what are their consequences for domestic growth and structural change in the Asian economies?


• What policies could facilitate integration and adjustment to fulfill Asia's growth potential without undue transition costs?

Read the Brief Report by Douglas Brooks

Contact Us

For further information, contact Mr. Douglas Brooks, tel: (63-2) 632-6642, email: dbrooks@adb.org