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[IWS} ADB: ASIAN DEVELOPMENT OUTLOOK 2014 UPDATE: ASIA IN GLOBAL VALUE CHAINS [25 September 2014]
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Asian Development Bank (ADB)
ASIAN DEVELOPMENT OUTLOOK 2014 UPDATE: ASIA IN GLOBAL VALUE CHAINS [25 September 2014]
[full-text, 190 pages]
Developing Asia is continuing along a stable growth path. Although US policy could still surprise markets the effect on developing Asia would be modest compared to the shock caused in 2013 by anticipated tightening. Demand does not threaten to reignite inflation, as regional economies continue to produce somewhat below capacity.
This and benign international commodity prices will keep inflation in developing Asia moderate Many economies in Asia have grown by connecting with global value chains. Strengthening these links could further stimulate expansion of industry and services and create jobs.
· Regional growth is forecast to pick up from 6.1% in 2013 to 6.2% in 2014 and further to 6.4% in 2015.
· Growth in the major industrial economies slipped in the first half of 2014.
· Targeted measures to stabilize investment helped the PRC sustain growth.
· India shows new promise of an economic turnaround.
· Growth slows in the main economies of Southeast Asia.
· Weakening food prices and stable oil prices keep inflation in check, remaining steady at 3.4% in 2014 and 3.7% in 2015.
· Developing Asia’s current account balance remains stable, maintaining a surplus equal to 2.1% of regional GDP in 2014 and 2.0% in 2015.
· All Asian economies face the challenge of strengthening links to dynamic production chains.
· ADO 2014 Update—Highlights
o Maintaining growth momentum
o Outlook by subregion
o Asia in global value chains
· Maintaining growth momentum
o Developing Asia sustains its growth path
o Embracing tighter global liquidity
o Will demand reignite inflation?
o Building the ASEAN economic community
o Annex: Global recovery
· Asia in global value chains
o The rise of global value chains
o Asia’s links to global value chains
o Forging stronger links with global value chains
· Economic trends and prospects in developing Asia
o Central Asia
o East Asia
o South Asia
o Southeast Asia
o The Pacific
o People’s Republic of China
o Viet Nam
· Statistical notes and tables
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