ADB’s Chief Economist provides insight into Asia’s development and overcoming the middle-income trap
Asian economies now account for a third of global GDP and half of global gross income. Even so, poverty persists and inequality is increasing in this region. Yasuyuki Sawada, Chief Economist, discusses Asia’s economic journey over the past 50 years. He talks about how ADB helps foster inclusive growth, the challenges of ensuring growth in inclusive and the urgency to tackle environmental degradation. Looking forward, he elaborates on the challenges and opportunities posed by China’s slowing growth, and how free trade agreements and technological advancements will support Asia achieving high-income status.