Op-eds and Opinion

Food price inflation: Slaying the hydra - Iwan Azis

Catastrophic flooding and crop losses in Thailand, the world's leading rice exporter, are raising concerns that another food crisis may be in the offing. Also disquieting is that the world may have already entered a new era of persistently high food prices. At a time when policymakers are grappling with a host of thorny economic issues, the possibility may be unwelcome, but must not be ignored.

Two faces of Asia's economic success - Changyong Rhee

The world economy is a worry once again.

Sluggish recovery in advanced economies has been aggravated by Europe's sovereign debt problems and budgetary discord in the United States. Close ties with these markets affect Asia's exports. Yet, despite this, Asia's economy continues to thrive.

Opinion: A prosperous Asia good for Australia - Haruhiko Kuroda

There is an unfinished agenda across Asia and the Pacific: to provide the basics to which every person is entitled. Australia, which has been an important partner contribution to Asia's growth and has in turn benefited from its trade and investment links with Asia, has a real stake in seeing this agenda through to completion.

Financial integration, contagion in Asia - Iwan Azis and Cyn-Young Park

Nervous sell-offs in Asia's equity markets in response to debt problems in the United States and euro zone underscore the region's growing links to financial events on the other side of the world. But with increased integration comes the increased threat of contagion. It is therefore not only in Asia's interest to promote global financial stability -- increasingly, its economic fate depends on it.

How to fight natural disasters - Qingfeng Zhang

A recent Asian Development Bank (ADB) study on drought management in China says the country has a stunningly agile disaster response system but not a corresponding system of risk reduction and management. In other words, China does not prepare for climate-related disasters; it only reacts to them.

This year, the government has been tackling two prolonged dry spells and the ongoing floods that have caused havoc in central and eastern parts of the country. The second spell of drought in the Yangtze River basin was followed by devastating floods.

Is the Asian Century upon us? It depends - Haruiko Kuroda

An Asia producing over half of global GDP? Three billion Asians considered part of the "rich world" by 2050? A dream ... or plausible reality?

It could happen if the region's economy keeps growing at its current rate and if new Asian generations grab the baton and run with it.

That baton, however, could be a very slippery one. There are several daunting multigenerational challenges and risks that must be overcome along the way.

Global Imbalances: The South-South Answer - Changyong Rhee

Global payments imbalances are back in the spotlight. As the global financial crisis recedes, international policy debates are again focusing on the large and persistent U.S. current account deficit and China's huge surplus. It has been the cause of heated overnight debates at G-20 summits in Washington, Toronto and Seoul—and mostly likely will again in Cannes in November this year. Some point to the imbalance as the culprit behind the crisis.

Two Challenges for Asia's Economy in 2011 - Changyong Rhee

Asia's recovery is firm and the region is expected to continue to grow by 7.8 percent in 2011 and 7.7 percent in 2012, despite the modest and still uncertain recovery in the major industrial economies and the recent hardship in Japan.

However, maintaining high growth could be more difficult than Asia seems prepared to admit. In order to sustain its growth, the region needs to address two important challenges.

Japanese Lessons on Reducing Disaster Risk - Haruiko Kuroda

MANILA - The March 11 earthquake-tsunami is the worst natural disaster to hit Japan in modern times. Nobody who has watched the events of recent days can fail to be moved by the unprecedented scope of the tragedy and its toll on human lives and property - a toll that continues to climb.

The images we have seen in the aftermath are tragic and touching, and it is heartening to see the people of Japan responding calmly, with discipline, dignity and resilience.

How to Outgrow an Export-Led Economy

The global economic crisis was a defining moment for developing Asia. Its resilience and rapid rebound from the recession has changed how others view the region and how the region views itself. Now the region needs to refocus. We must turn our advantage into sustained economic growth. Keep unwinding stimulus, and, above all, get more efficient to sustain the region's growth over the medium- and longer-term.