- Developing Asia will contract by 0.7% this year, its first contraction in six decades. Growth will rebound to 6.8% in 2021.
- The downturn is broad-based—three-fourths of the region's economies are expected to contract this year. The People's Republic of China (PRC) is an important exception.
- Depressed demand and low oil prices offset supply disruptions, keeping regional inflation at 2.9% in 2020, and trimming it to 2.3% in 2021.
- The main risk stems from the prospect of a prolonged COVID-19 pandemic, which could derail the recovery.
- The theme chapter discusses the role of wellness in development and how the wellness economy can help drive the post-COVID recovery.