It is estimated that less than 20 percent of the population of Myanmar uses formal financial services, says Eric Duflos in the CGAP blog.
Last week the World Bank's Chief Economist for the East Asia and Pacific region took questions on the economic prospects for the region during a one-hour live chat.
As a follow up event to the recent release of the Bank'slatest East Asia and Pacific economic update, our lead economists spent around 1 1/2 hours this Tuesday answering your questions on the findings of the report, and other economic issues.
Ivailo Izvorski, the Lead Economist for the East Asia & Pacific region of the World Bank (and our latest blogger, below this post), and Vikram Nehru, Chief Economist for the region, held a live online chat a couple of days ago where they answered a good number of questions about China's currency, GDP forecasts, free-trade agreements, and structural reforms, among others.
Regionally speaking, developing countries in East Asia and Pacific have rebounded surprisingly quickly from the financial crisis and global recession. But according to a report just released by the World Bank, the regional economic picture isn’t as rosy when China is taken out of the equation. The latest East Asia and Pacific Update report, an assessment of the economic health of the region released every six months, is titled “Transforming the Rebound into Recovery.” The rebound, the report says, was driven in part by large and timely fiscal stimulus spending led by China and Korea. Still, despite the well-performing economies of Indonesia and Vietnam, developing East Asia excluding China is projected to grow at just around 1 percent in 2009. And for Cambodia, Malaysia and Thailand, GDP is contracting.
The China Quarterly Update – a separate report released at the same time as the latest regional assessment and focusing specifically on the Chinese economy – gives a more complete picture of why the country has seen such robust economic growth and what the future may hold. The Bank now projects China to see GDP growth of 8.4 percent for 2009, says the report. The report’s lead author (and blogger) Louis Kuijs wrote an accompanying blog post, which can be read here.
I really recommend taking some time to explore the findings of both reports by visiting the East Asia Update and China Quarterly pages, where you can also download high resolution graphs and watch video interviews with the economists. Also, you'll be able to ask two World Bank economists questions about the regional report in an online chat taking place Thursday, November 12, at 10 a.m. DC time (15:00 GMT or 11:00 p.m. in Beijing). Send your questions now for a better chance of getting them answered.
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It's nearly 35 years since I first flew over Sumatra, an island in western Indonesia. Looking out of the plane window, the dark green forests stretched to the horizon. Even if there weren't any Truffula trees, there were many herds of elephants, families of tigers, groups of monkeys and many thousands of lone orangutans calling and moving around the forest, hardly ever crossing paths with humans. Then came the organized loggers, the transmigration settlements, and the plantations – rubber, oil palm and industrial timber.
About half Sumatra's forests have been lost since 1985. Last year, a WWF report (pdf) found that forest cover in Riau province, central Sumatra, has fallen from 78% to 25% in 25 years.
|The Garnaut Climate Change Review, compared to other influential reports on the issue, factors in economic growth and intensifying emissions from developing countries.|