Asian Development Outlook 2008: Workers in Asia

Publication | April 2008

The annual Asian Development Outlook provides a comprehensive economic analysis of 44 economies in developing Asia and the Pacific. This 20th anniversary edition examines trends and prospects in Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific.

The annual Asian Development Outlook provides a comprehensive economic analysis of 44 economies in developing Asia and the Pacific. This 20th anniversary edition examines trends and prospects in Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific.

Developing Asia's performance in 2007 broke records in almost two decades. Aggregate gross domestic product grew at 8.7%, on supportive global economic conditions, a largely favorable policy environment, and productivity gains as the region continued its remarkable modernization and transformation.

Conditions in the global economy now look distinctly unsteady with the United States, Japan, and Europe set for a synchronized slowdown this year. Still, developing Asia will not be hostage to the global slowdown, even if it cannot remain immune to it, and its growth this year and next should be only a little below longer-run trends.

But with commodity prices soaring and despite government price restraints, inflation is accelerating and is likely to hit decade-long highs. Rising inflation expectations are a more immediate threat to developing Asia than the prospect of a moderate slowdown in growth.

This year's theme on workers in developing Asia spotlights three issues. Will the region reap the demographic advantages of its many young people about to enter the workforce? Can it resolve its silent crisis in terms of its skills shortages? Third, with migration burgeoning within the region, will policies move to keep up with the reality on the ground?

Contents 

Foreword, Acknowledgments, Contents, Definitions, Acronyms and Abbreviations
Highlights: ADO 2008
The Global Slowdown and Developing Asia
 Introduction
 Global Outlook
 The Uncoupling Myth: The G3 Slowdown and Developing Asia
 Reasons to be Nervous: Commodity Prices and Inflation
Workers in Asia
Young Asians: A Squandered Talent
Asia's Skills Crisis
Asian Workers on the Move
Economic Trends and Prospects in Developing Asia
 Central Asia
  Armenia
  Azerbaijan
  Georgia
  Kazakhstan
  Kyrgyz Republic
  Tajikistan
  Turkmenistan
  Uzbekistan
 East Asia
  People's Republic of China
  Hong Kong, China
  Republic of Korea
  Mongolia
  Taipei,China
 South Asia
  Islamic Republic of Afghanistan
  Bangladesh
  Bhutan
  India
  Maldives
  Nepal
  Pakistan
  Sri Lanka
 Southeast Asia
  Cambodia
  Indonesia
  Lao People's Democratic Republic
  Malaysia
  Myanmar
  Philippines
  Singapore
  Thailand
  Viet Nam
 The Pacific
  Fiji Islands
  Papua New Guinea
  Democratic Republic of Timor-Leste
  Small Pacific countries
Technical Note: Appendix: Sources of Statistical Discrepancy
Statistical Appendix