Regional Economic Outlook: Asia and Pacific, April 2016: Building on Asia's Strengths During Turbulent Times

Asia and Pacific, May 3, 2016

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Growth in the Asia-Pacific economies is expected to decelerate slightly to about 5.3 percent during 2016–17.
The moderation in regional growth reflects the sluggish global recovery and slowing global trade.
With external demand relatively subdued and global financial conditions starting to tighten, domestic demand is expected to be a major driver of activity across most of the region.
Policy settings are assessed as appropriate across most of the region, but implementing structural reforms is emphasized as critical to bolstering potential growth and reducing potential vulnerabilities.
The report also analyzes China’s spillovers to Asia, implications of China’s rebalancing for trade, and inequality in the region.

Projected regional growth: about 5.3 percent during 2016–17.
Main downside pressures: sluggish global recovery; slowing global trade; tightening global financial conditions.
Main domestic offset: domestic demand as the principal driver of activity across most economies in the region.

Maintain appropriate macroeconomic policy settings where feasible to support demand.
Implement structural reforms to:
- Bolster potential growth.
- Reduce potential vulnerabilities arising from the slower external environment.
Pay attention to spillovers from major economies (notably China) and adapt policies to manage trade and financial transmission channels.

China’s spillovers to Asia and the regional consequences of China’s growth slowdown.
Implications of China’s rebalancing for trade and partner-country growth.
Financial spillovers from China to regional markets and analysis of market sensitivities.
Inequality in the region: trends, drivers, and policy implications.

Source: Regional Economic Outlook: Asia and Pacific, April 2016: Building on Asia's Strengths During Turbulent Times (published May 3, 2016).

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