Outlook for Developing Asia
Dr Shang-Jin Wei, Chief Economist, Asian Development Bank (ADB) ; Professor of Finance and Economics, Graduate School of Business Columbia University
Madhur Jha, Senior Global Economist, Global Research, Standard Chartered Bank
Chair: Dr Paola Subacchi, Research Director, International Economics, Chatham House
Developing Asia remains the fastest growing region globally. Slowing external demand has hurt some economies in the region but as a whole Asia and the Pacific is on track for firm growth in 2014 and 2015. Presenting the update of the Asian Development Outlook 2014 (ADO 2014), Dr Wei will argue that moving forward structural reform processes in China, India, and Indonesia—the region’s three biggest economies—will be critical in shaping their growth outlook.
He will discuss the impact of the winding down of unconventional United States monetary policy on Asian financial markets. Although US policy could still surprise markets if higher growth than expected pushed the Federal Reserve toward an early interest rate increase, the effect on developing Asia would be modest next to the shock caused in 2013 by anticipated tightening.
Finally, he will maintain that demand and benign international commodity prices will keep inflation moderate in developing Asia. As many economies in Asia have grown by connecting with global value chains, he will argue that strengthening them could further stimulate expansion of industry and services and create jobs.
To enable as open a debate as possible, the Q&A session of this event will be held under the Chatham House Rule.
A light breakfast will be served to participants.
This event will be held in partnership with the Asian Development Bank (ADB).