Background

The global economy is now recovering from the global financial crisis, and Asian economies have been leading the recovery, thanks to strong economic fundamentals and aggressive monetary and fiscal stimulus measures. Nevertheless, in light of the weak recoveries in the United States (US) and Europe, a sustainable recovery does not yet look assured. New concerns have arisen, including the sovereign debt crisis in southern Europe, lingering worries about a double-dip recession in the developed economies, uncertainties about the appropriate timing of the withdrawal of monetary and fiscal stimulus programs around the world, renewed large short-term capital inflows to emerging economies, currency appreciation pressures and "currency wars." Asian leaders urgently need to formulate and implement economic and financial policies to offset these risks, and to secure sustainable long-term growth that is socially inclusive and environmentally friendly. Progress in these areas can be achieved in both global forums, especially G20, and in regional forums such as the ASEAN+3, East Asia Summit and APEC processes.

The Asian Policy Forum, established in 1999, brings together leading members of Asian research communities to produce, through collaborative research activities and open-minded discussions, policy recommendations on the most challenging development issues confronting Asian policymakers. The Forum focuses on specific issues that reflect current problems with long-term development implications and pose the opportunity to search for a common Asian voice. The policy recommendations reflect the Asian situation in term of each economy's institutions, history, and stage of development. ADB Institute is the secretariat.

Participants

Media, private sector participants, academics, and ADB professional staff.