Macroeconomics and Economic Growth
Given that Asia is now widely seen as leading the world out of the crisis, it is fitting that the role of Asia was more prominently recognized in the global economic system in the recent G20 meeting held in Pittsburgh. Since we last looked in July, the outlook for the emerging markets of East Asia has continued to brighten. The latest regional forecasts come from the Asian Development Bank in its Asian Development Outlook (pdf) published last week. It points to “the rapid turnaround in [Asia’s] largest, less export-dependent economies” and predicts that “the regional economy is now poised to achieve a V-shaped rebound.” These are very positive words indeed! As the graph below shows, the ADB has in fact upgraded its growth forecasts for a number of economies for 2009.
Although the signs are pointing upwards, performance is still mixed in a number of key areas.
As China’s economy seems to be recovering, many people here have expressed concerns about inflation. I was able to air my views on the subject in an Op-Ed in China’s main English language newspaper, the China Daily, together with two other experts.
After five years in Indonesia, my family and I have left this wonderful country and moved to Kenya. The last five years have been excellent years for Indonesia. The economy stabilized, growth resumed and services started to improve, although modestly and not in all areas. Indonesia still remains an underrated country, but this may change. Indonesia has only mildly been affected by the global crisis.
The investment climate is the fundamental socio-economic framework in which firms operate – the macroeconomic and trade policies they face, the labor and financial markets in which they recruit and raise money, the available infrastructure and imposed regulations, as well a
It always seems to be the case that by simply writing or saying something, you can hardly get the same point across as by presenting it in a visual way. For example, it’s one thing to say, “three billion people (a little less than half the world’s population) comprise the bottom 5 percent of global GDP contributors.” But as the Strange Maps blog points out, it’s a little more eye-opening to show a map with those countries completely missing.
I’m not sure this map accomplishes much more than to illustrate a single interesting point – unlike the SHOW World animated maps we wrote about earlier this year or the popular WorldMapper Collection, both of which put several data sets in a visual format.
The map does, however, highlight the interesting fact that most of the countries represented are either in Southeast Asia or Africa. Check it out here.
Another example of China’s respectable growth, despite the global economic crisis, is apparent in this month’s Fortune magazine, with its Global 500 list of the world’s largest companies.
It’s now evident that people in developing countries have access to the internet and mobile phones like never before, which (as I recently wrote about) may lead to increased economic growth, job creation and good governance. A huge piece of this broad puzzle is mobile banking, and utilizing mobile phones to bring financial services to people who wouldn't otherwise have access to banks ("unbanked").
A new study, released last month by the Consultative Group to Assist the Poor (CGAP) and GSMA, estimates that there are more than one billion people worldwide who are unbanked, yet have access to mobile phones. And by 2012, that number is expected to grow to 1.7 billion people.