East Asia and Pacific Update, April 2007 : Ten Years After the Crisis
Growth in Emerging East Asia accelerated to reach 8.1 percent in 2006. This was the strongest pace of economic expansion in the last ten years and a fitting commemoration of the decade that has passed since the start of the Asian financial crisis i...
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| Format: | Serial |
| Language: | English |
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World Bank, Washington, DC
2020
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| Online Access: | http://documents.worldbank.org/curated/en/679431468038153232/10-years-after-the-crisis http://hdl.handle.net/10986/33509 |
| Summary: | Growth in Emerging East Asia accelerated
to reach 8.1 percent in 2006. This was the strongest pace of
economic expansion in the last ten years and a fitting
commemoration of the decade that has passed since the start
of the Asian financial crisis in 1997. The region's
accomplishments in grappling with and overcoming the crisis
and in returning to solid growth are varied and impressive
-- a doubling in the dollar value of regional output from
pre-crisis levels, the emergence of China into the front
rank of global economic powers, a halving in poverty rates,
accumulation of over 2 trillion dollars in foreign reserves.
But even as the region celebrates recovery, new challenges
are arising, which could slow or even derail growth if not
properly handled. The report looks at these issues in a
section on Ten years after the crisis. Another challenge of
staggering proportions that lies ahead is East Asian
urbanization: The region's population will rise by
around 17 percent between 2000 and 2025 but its urban
population will jump by 65 percent or 500 million. The
Special Focus in this report on Sustainable Development in
East Asia's Urban Fringe looks at the issues. |
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