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Based on work by the PECC Taskforce on economic crisis and recovery, the Report provides a policy framework for completing the recovery and achieving sustained growth beyond it.  The international team of experts identifies priorities for replacing stimulus programs with structural reforms, and for launching new growth engines to drive investment and employment throughout the Asia Pacific region.

The recovery of the Asia Pacific region from the global economic crisis of 2008-2009 is underway but incomplete. Risks range from slow growth and persistent unemployment to re-emerging international imbalances and financial volatility. While early policy responses to the crisis were successful in avoiding a larger calamity, new policy strategies are now needed to resolve imbalances among the United States, China, and other economies, and to build robus demand in the medium term.

Led by Professor Peter Petri (Brandeis University/ East-West Center), the team included eminent scholars from China, Japan, the United States and other countries. The Report presents a regional strategy as well as separate, detailed analyses of the challenges facing different sub-regional groups. It concludes that inclusive, balanced, sustained growth in the region is feasible, but will require structural reforms that change economic relationships within economies and among them, and substantial international cooperation in implementing coherent national policies.

 
 

Edited by Peter A. Petri

Published by PECC and ISEAS (May 2010) 

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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 


COVID-19 has Exposed Major Gaps in our Social Safety Nets: In a Post-COVID World Will these Gaps be Closed?
Hugh Stephens
Vice Chair, CANCPEC; Distinguished Fellow, Asia Pacific Foundation of Canada; Executive Fellow, School of Public Policy at the University of Calgary


 Multilateral Cooperation is a Safeguard against Pandemics
Rebecca Fatima Sta Maria
Executive Director, APEC Secretariat


International cooperation during COVID-19
Sungbae An
Senior Research Fellow, Department of International Macroeconomics and Finance, Korea Institute for International Economic Policy (KIEP)


Drastic measures to stop spread of COVID-19 are necessary
Charles E. Morrison
Adjunct Fellow and Former President of the East-West Center; Former Co-Chair, PECC


ASEAN-China cooperation in time of COVID-19 pandemic
Jusuf Wanandi
Vice Chair, Board of Trustees, CSIS Foundation; Former Co-Chair of PECC