Press Releases


19 Nov 2008 (Lima, Peru) A survey of Asia-Pacific opinion-leaders released today shows overwhelming concern about the impact that the ongoing financial crisis is having on the region. The top three risks to growth in the Asia-Pacific cited by respondents were US recession, (83%), banking/financial sector crisis (78%) and a sharp fall in asset prices (69%).  
19 November 2008 (Lima, Peru) Economic integration in the Asia-Pacific has increased in the nearly 20 years since APEC’s formation in 1989, according to a new set of indicators developed by the Pacific Economic Cooperation Council (PECC). Using data from 17 member economies of APEC, the index provides a measure of economic integration for the region as a whole, as well as for individual economies.
19 Nov 2008 (Lima, Peru) The economies of the Asia-Pacific region will grow by only 1.2% next year, less than half the growth the region experienced in 2007 and 2008. This sharp decline in output growth will be led by the United States, which is expected to experience an economic contraction in 2009 of around 0.5 percent.
19 Nov 2008 (Lima, Peru) The impact of climate change in the Asia-Pacific will affect the developing economies of the region the most according to a new report released by the Pacific Economic Cooperation Council (PECC) on the sidelines of the APEC leaders’ summit in Lima.
30 May 2008 (Singapore) Inflation in the Asia Pacific is set to rise sharply this year in the face of increased oil and commodity prices. Headline consumer prices will increase this year by 3.6% compared with a 2.7% increase in 2007. The aggregate numbers mask much sharper price spikes in certain Asian economies.  China, for example, will see an increase in the CPI of about 6.0% for 2008 as a whole, with year-on-year increases in the second half of the year in excess of 8.0%.  In Indonesia, the consumer price index is expected to jump 11.7%.  For Southeast Asia, CPI inflation is set to almost double from 3.2% in 2007 to 6.2% in 2008.
5 February 2008 (Canberra, Australia) Rapid income growth and urbanization is having profound impacts on the food system in the developing member economies of the Pacific Economic Cooperation Council (PECC), creating opportunities to enhance farm-sector profitability and encourage vibrant rural areas.  To achieve that potential, private and public decision makers must work to streamline and modernize the food system, embracing new approaches to link rural areas with expanding urban markets, according to PECC’s 2007-2008 Pacific Food System Outlook (PFSO) report.

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Pacific Currents

Digital Technologies, Services and the Fourth Industrial Revolutions
Submitted by Jane Drake-Brockman, Christopher Findlay, Yose Rizal Damuri and Sherry Stephenson 

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