{ "title": "The Next Phase of Asia’s Economic Growth", "publication": "IMF Blog, April 28, 2011", "sourceUrl": "https://www.imf.org/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase", "canonical": "https://www.imf.org/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase", "overlayPath": "/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/index.md", "summary": "Economic growth averaged 8.3 percent across the region in 2010, driven by strong exports and domestic demand.", "sections": [ { "heading": "Economic outlook", "content": "- Economic growth averaged 8.3 percent across the region in 2010, driven by strong exports and domestic demand.\n- Asian exports, especially of high-tech products, have benefitted from higher global investment.\n- Domestic consumption and investment were supported by rising employment, abundant credit, and supportive macroeconomic policies.\n- Growth is likely to remain robust, averaging 7 percent in both 2011 and 2012 (compared to 4.5 percent global growth).\n- China and India will remain in the lead, and their growth will increasingly benefit other economies in the region.\n- The economic spillovers from Japan are still unclear as events are unfolding, but early and decisive policy actions helped to limit the initial damage; impact is expected to remain limited provided that disruptions to the production and distribution network—the “supply chain”—are not protracted." }, { "heading": "Near-term risks & policy choices", "content": "- Overall risks to Asia’s economic outlook are more balanced than six months earlier, reflecting receding financial risks in advanced economies.\n- New downside risks identified:\n - the potential for higher oil prices, particularly due to unrest in the Middle East, which could disrupt global growth and fuel inflation;\n - overheating risks in many Asian economies in terms of both consumer price inflation and asset prices.\n- Policy implications and current stance:\n - The need to tighten macroeconomic policies in Asia has become more pressing now than it was a few months ago.\n - The extent of tightening required varies across countries.\n - Several countries have already begun to raise interest rates and reduce fiscal stimulus.\n - Real policy rates are still negative in several regional economies, including China, Korea and India.\n - Exchange rate appreciation can be a key defense against overheating pressures, as it would help tighten overall financial conditions, reducing the burden of adjustment on higher interest rates.\n - Policymakers sometimes fear that tightening could attract volatile capital inflows, but such inflows have moderated in recent months, making the task of tightening easier." }, { "heading": "The next phase — priorities for sustained growth", "content": "- Priority 1: Address persistent global imbalances and pre-crisis distortions to reinforce the sustainability of global growth prospects.\n - In Asia, this implies moving ahead with policies to boost domestic demand.\n - Specific policy actions highlighted: extending social safety nets and boosting infrastructure investment.\n- Priority 2: Strengthen the social dimension of growth.\n - Although labor market conditions in Asia are generally better than elsewhere, challenges include persistent poverty in some countries, high inequality, and youth unemployment.\n - Promoting more inclusive growth will help make growth more durable.\n\nAnoop Singh — April 28, 2011\n\n---\n\n Content in this bundle\n\n- 下一阶段的亚洲经济增长, IMFdirect, 作者：Anoop Singh, 2011年4月28日\n - 下一阶段的亚洲经济增长, IMFdirect, 作者：Anoop Singh, 2011年4月28日 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - 下一阶段的亚洲经济增长, IMFdirect, 作者：Anoop Singh, 2011年4月28日 (PDF){rel=\"external\" type=\"application/pdf\"}\n- アジアの経済成長・次の段階, iMFdirect, アヌープ・シン, 2011年4月28日\n - アジアの経済成長・次の段階, iMFdirect, アヌープ・シン, 2011年4月28日 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - アジアの経済成長・次の段階, iMFdirect, アヌープ・シン, 2011年4月28日 (PDF){rel=\"external\" type=\"application/pdf\"}\n- 아시아 경제 성장의 다음 단계, IMFdirect, 작성: 아눕 싱, 2011년4월28일\n - 아시아 경제 성장의 다음 단계, IMFdirect, 작성: 아눕 싱, 2011년4월28일 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n - 아시아 경제 성장의 다음 단계, IMFdirect, 작성: 아눕 싱, 2011년4월28일 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\n References\n\n- strengthening global recovery\n- Regional Economic Outlook: Asia and Pacific\n- receding financial risks\n\nSource: https://www.imf.org/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase" } ], "bullets": [ "[Markdown version](/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/index.md)", "[Structured JSON version](/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/index.json)", "[Bundle manifest](/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/bundle-manifest.json)", "Authors: Anoop Singh", "Published: April 28, 2011", "Economic growth averaged 8.3 percent across the region in 2010, driven by strong exports and domestic demand.", "Asian exports, especially of high-tech products, have benefitted from higher global investment.", "Domestic consumption and investment were supported by rising employment, abundant credit, and supportive macroeconomic policies.", "Growth is likely to remain robust, averaging 7 percent in both 2011 and 2012 (compared to 4.5 percent global growth).", "China and India will remain in the lead, and their growth will increasingly benefit other economies in the region.", "The economic spillovers from Japan are still unclear as events are unfolding, but early and decisive policy actions helped to limit the initial damage; impact is expected to remain limited provided that disruptions to the production and distribution network—the “supply chain”—are not protracted.", "Overall risks to Asia’s economic outlook are more balanced than six months earlier, reflecting receding financial risks in advanced economies.", "New downside risks identified:", "Policy implications and current stance:", "Priority 1: Address persistent global imbalances and pre-crisis distortions to reinforce the sustainability of global growth prospects.", "Priority 2: Strengthen the social dimension of growth.", "**下一阶段的亚洲经济增长, IMFdirect, 作者：Anoop Singh, 2011年4月28日**", "**アジアの経済成長・次の段階, iMFdirect, アヌープ・シン, 2011年4月28日**", "**아시아 경제 성장의 다음 단계, IMFdirect, 작성: 아눕 싱, 2011년4월28일**", "[strengthening global recovery](http://blogs.imf.org/2011/04/11/global-recovery-strengthens-tensions-heighten/)", "[Regional Economic Outlook: Asia and Pacific](http://www.imf.org/external/pubs/ft/reo/2011/APD/eng/areo0411.htm)", "[receding financial risks](http://blogs.imf.org/2011/04/13/time-to-secure-financial-stability/)" ], "related": [ { "title": "下一阶段的亚洲经济增长, IMFdirect, 作者：Anoop Singh, 2011年4月28日", "role": "document", "sourceUrl": "http://www.imf.org/external/chinese/np/vc/2011/042811c.pdf", "summary": { "path": "/external/chinese/np/vc/2011/042811c.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/external/chinese/np/vc/2011/042811c.pdf", "mime": "application/pdf" } }, { "title": "アジアの経済成長・次の段階, iMFdirect, アヌープ・シン, 2011年4月28日", "role": "document", "sourceUrl": "http://www.imf.org/external/japanese/np/vc/2011/042811j.pdf", "summary": { "path": "/external/japanese/np/vc/2011/042811j.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/external/japanese/np/vc/2011/042811j.pdf", "mime": "application/pdf" } }, { "title": "아시아 경제 성장의 다음 단계, IMFdirect, 작성: 아눕 싱, 2011년4월28일", "role": "document", "sourceUrl": "http://www.imf.org/external/lang/korean/np/vc/2011/042811k.pdf", "summary": { "path": "/external/lang/korean/np/vc/2011/042811k.pdf.md", "mime": "text/markdown" }, "binary": { "path": "/external/lang/korean/np/vc/2011/042811k.pdf", "mime": "application/pdf" } } ], "alternates": { "markdown": "/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/index.md", "json": "/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/index.json", "bundleManifest": "/en/blogs/articles/2011/04/28/asias-next-economic-growth-phase/bundle-manifest.json" }, "generatedAtUtc": "2026-08-28T14:36:03.813Z" }