Asian Development Outlook 2008: Workers in Asia | Asian Development Bank

Asian Development Outlook 2008: Workers in Asia

Publication | April 2008
Asian Development Outlook 2008: Workers in Asia

The performance of developing countries in Asia in 2007 was the best in decades. Aggregate gross domestic product grew at 8.7%, on positive global economic conditions, favorable policies, and productivity gains.

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?


Foreword, Acknowledgments, Contents, Definitions, Acronyms and Abbreviations
Highlights: ADO 2008
The Global Slowdown and Developing Asia
 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
  Kyrgyz Republic
 East Asia
  People's Republic of China
  Hong Kong, China
  Republic of Korea
 South Asia
  Islamic Republic of Afghanistan
  Sri Lanka
 Southeast Asia
  Lao People's Democratic Republic
  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