Asia and the Pacific is a relative bright spot amid the more somber context of the global economy’s rocky recovery.
As the Chart of the Week shows, the region will contribute about 70 percent of global growth this year—a much greater share than in recent years. Our latest Regional Economic Outlook describes the resilience of the world’s most dynamic region and important challenges facing its policymakers.
Main Drivers of Growth
Growth in Asia and the Pacific is forecast to accelerate to 4.6 percent this year from 3.8 percent last year. The main development has been the reopening of China, where surging consumption is boosting growth across the region despite weaker demand from the rest of the world. China and India together are forecast to generate about half of global growth this year. Other factors supporting growth include the easing of lockdowns in some countries, higher…
