Syndicate content

Blogs

An opportunity for East Asia in plunging oil prices

Axel van Trotsenburg's picture
Also available in: 中文
Image "Pro Pit" by Aaron Webb is licensed under CC BY-NC-SA 2.0
Image "Pro Pit" by Aaron Webb is licensed under CC BY-NC-SA 2.0

“Never let an opportunity pass by, but always think twice before acting,” says a Japanese proverb with particular pertinence for East Asia today.

Plunging oil prices present a significant opportunity for most of the region’s developing countries to strengthen the competitiveness of their economies and take advantage of the ongoing global recovery.

The drop in oil prices — over 50% since mid-2014 — reflects several years of increasing oil supply, particularly in North America, along with decreased geopolitical risks to global production, OPEC’s efforts to maintain production levels and market share, and weaker-than-expected global growth last year. These factors are likely to persist, with oil prices expected to remain low through at least 2016.

Most countries in East Asia, including Japan, benefit from the price decline because they are oil importers. They can expect more rapid economic growth, lower inflation and improved current account balances.

How to narrow the gap between the rich and poor in Malaysia?

Frederico Gil Sander's picture

If you could make one New Year’s wish for your country, what would it be?

For many Malaysians, Prime Minister Najib Razak’s wish for “a safer, more prosperous, and more equal society” likely resonated with their hopes for 2015.

Malaysians appear to be increasingly concerned about income inequality. According to a 2014 Pew Global survey, 77% of Malaysians think that the gap between the rich and poor is a big problem. The government has acknowledged that inequality remains high, and that tackling these disparities will be Malaysia’s “biggest challenge” in becoming a high-income nation.

How can Malaysia narrow the gap between the rich and poor? Global experience suggests two possible levers to achieve a more equitable income distribution.

Philippines: Shattering the Myths: It’s Not Tough to Build Green

Maria Teresita Lacerna's picture
Solar panels on the Tiarra houses in an affordable housing community in Batagas, south of Metro Manila, are expected to contribute to 32 percent savings in energy.

Buildings now dot the skyline of Bonifacio Global City in Metro Manila, which hosts, among others, the offices of the World Bank and the International Finance Corporation.  Who would have thought that this former military camp could be transformed into a bustling economic center in less than ten years?  And, with the rise of commercial buildings and residential condominiums following the area’s fast-paced growth, we see a growing demand for electricity that causes stress on the environment and resources. 

Malaysia: From Developing Nation to Development Partner

Axel van Trotsenburg's picture
World Bank Vice President for East Asia & Pacific on opening a new office in Malaysia

In 1954, the World Bank’s first mission report on Malaya – as the soon-to-be-independent country was called then – expressed concern about its development prospects. The mission was “favorably impressed with Malaya’s economic potentialities and prospects for expansion.” But it questioned  whether the “rates of economic progress and additions to employment opportunities can move ahead of or even keep up with the pace at which the population and the labor force are growing.”

Sixty years and 25 million more Malaysians later, hindsight proved such worries overdone as income per capita climbed from USD 250 at the time of the report to over USD$10,000 today.

 

With its successful economic and social development, Malaysia is now actively moving into a new role as a global development partner—supporting other countries in ending poverty and sharing lessons from its journey to become a regional economic powerhouse. This new role is a natural fit for a nation in transition toward a high-income status, and a big gain for the rest of us.

 

Tracking Urbanization: How big data can drive policies to make cities work for the poor

Axel van Trotsenburg's picture
Also available in: 中文
 Measuring a Decade of Spatial Growth

Every minute, dozens of people in East Asia move from the countryside to the city.

The massive population shift is creating some of the world’s biggest mega-cities including Tokyo, Shanghai, Jakarta, Seoul and Manila, as well as hundreds of medium and smaller urban areas.

Philippines: Traffic woes and the road ahead

louielimkin's picture
Traffic congestion results in an estimated productivity loss of around PHP2.4 billion ($54 million) a day or more than PHP800 billion ($18 billion) a year.



From my house in northern Quezon City, I drive more than two hours every day to get to the office in Bonifacio Global City, which is about three cities away where I come from, and two cities away from the capital Manila. It’s a journey that should only take around half an hour under light traffic. That is a total of four hours on the road a day, if there is no road accident or bad weather. It takes me an hour longer whenever I use the public transport system. Along with hundreds of thousands of Metro Rail Transit (MRT) commuters, I have to contend with extremely long lines, slow trains, and frequent delays due to malfunctions. This has been my experience for several years. Many of us might be wondering: why have these problems persisted?

Businesses benefit where governments are unable or unwilling to protect human rights, right? Wrong

Carolyn Blacklock's picture



When one thinks of businesses operating in countries that are still struggling to protect and provide for human rights, a narrative can easily spring to mind involving unscrupulous businesses happily taking advantage of weak labor laws, a lack of minimum wage and poor environmental controls. But, in many places, the reality is very different. Not only is the private sector itself adversely impacted by weak human rights protections but, more than this, businesses are themselves having to take up a leadership role to compensate for weaknesses that exist at a national level.

Three key lessons from the 2004 Tsunami

Abhas Jha's picture
Also available in: Bahasa Indonesia



I began my professional career as a sub-district and district level administrator in India-a position that makes one responsible for pretty much everything- from making sure the water comes out of the taps and the garbage is collected in the morning to helping pull accident victims out from horrific accidents and facing down stone-pelting mobs. This early experience of being thrown into the deep end of the pool gives me a somewhat pragmatic sense of perspective and equanimity. But I still recall the horror and overwhelming grief that I felt when the full impact of the 2004 Tsunami started becoming clear. In Indonesia alone approximately 220,000 people lost their lives.

Video Blog: World Bank Vice President for East Asia and Pacific visits Indonesia

Axel van Trotsenburg's picture
Video Blog: World Bank Vice President for East Asia and Pacific visits Indonesia


Axel van Trotsenburg, World Bank Vice President for East Asia and Pacific, travelled to Indonesia, where he visited the capital Jakarta and Makassar in South Sulawesi. He noted that Indonesia faces a large challenge in meeting infrastructure needs, in order to provide basic services and integrate a country with over 17,000 islands.
 

World Bank Vice President for East Asia Invites the Public to Discuss the Future of Vietnam

Axel van Trotsenburg's picture
World Bank Vice President for East Asia Invites the Public to Discuss the Future of Vietnam

World Bank Vice President for East Asia and Pacific Axel van Trotsenburg invites everyone to join a discussion on how Vietnam can achieve the objective of becoming a modern, industrialized nation in the next decades.

Pages