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Asia's Developing Future
By Asian Development Bank InstituteEducation
Asia's Developing Future episodes
- China’s trade and investment slowdown could hamper developing AsiaA growth slowdown in the People’s Republic of China causing a decline in trade would be felt across Asia, with commodity exporters and trade partners closest to the country hit hardest.Although the region’s dependence on trade with China has been expanding fast, the effects of such a slowdown would not be catastrophic, says a new book published by the Asian Development Bank Institute.Read the transcripthttps://bit.ly/2x7FyauRead the bookhttps://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asiaAbout the authorsPeter Morgan is co-chair of ADBI’s Research Department.Fan Zhai is the former managing director of the China Investment Corporation.About the book editorsPeter Morgan is co-chair of the Research Department at the Asian Development Bank Institute.Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China.Guanghua Wan is director of the Institute of World Economy, Fudan University, China.Know more about ADBI’s work on PRChttps://bit.ly/2vVC0Yihttps://bit.ly/2vQ3fDf6 min
- China can sustain long-term growth, with a few changes at homeDomestic structural change is necessary if the People's Republic of China is to sustain economic growth of as high as 8% a year over the next 10 years.Research published in an Asian Development Bank Institute book, Slowdown in the People’s Republic of China, Structural Factors and the Implications for Asia, found the worldwide trade slowdown that followed the global financial crisis in 2008 is mostly to blame for the recent decline in China’s growth rate.Read the transcripthttps://bit.ly/2IH1aPjRead the bookhttps://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asiaAbout the book editorsPeter Morgan is co-chair of the Research Department at the Asian Development Bank Institute.Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China.Guanghua Wan is director of the Institute of World Economy, Fudan University, China.Know more about ADBI’s work on PRChttps://bit.ly/2vVC0Yihttps://bit.ly/2vQ3fDf6 min
- Asia should promote domestic demand and lessen its reliance on electronic exportsThe bulk of Asia’s exports runs through, rather than to, the People’s Republic of China, leaving the region more exposed to downturns and anti-trade sentiments in developed countries than to a domestic slowdown in China.Governments should promote domestic growth and trade within Asia to lessen that exposure, economists argue in a new book by the Asian Development Bank Institute, Slowdown in the People’s Republic of China, Structural Factors and the Implications for Asia.Peter Morgan, co-chair of the research department at ADBI and one of the editors of the book, explains the conclusions of a paper by Willem Thorbecke of Japan’s Research Institute of Economy, Trade and Industry.Read the transcripthttps://bit.ly/2KO2jD0Read the bookhttps://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asiaAbout the authorWillem Thorbecke is a senior fellow at Japan’s Research Institute of Economy, Trade and Industry.About the book editorsPeter Morgan is co-chair of the Research Department at the Asian Development Bank InstituteJustin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China.Guanghua Wan is director of the Institute of World Economy, Fudan University, China.Know more about ADBI’s work on PRChttps://bit.ly/2vVC0Yihttps://bit.ly/2vQ3fDf5 min
- China’s declining growth is structural, not a cyclical downturnThe nature of the People’s Republic of China’s growth slowdown is a key question for the global economy.If it’s a bump in the road, growth in China should soon return to a high rate that can help support global growth. If it reflects deeper problems, the world may have to live without the contribution that has come to be expected from China’s hard-charging economy.Economists must first determine the factors behind China’s growth, which poses statistical problems.Read the transcripthttps://bit.ly/2rurpP7Read the bookhttps://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asiaAbout the authorHarry X. Wu, professor at the Institute of Economic Research at Japan’s Hitotsubashi University.About the book editorsPeter Morgan is co-chair of the Research Department at the Asian Development Bank Institute.Justin Yi-fu Lin is director of the Center for New Structural Economics, Peking University, China.Guanghua Wan is director of the Institute of World Economy, Fudan University, China.Know more about ADBI’s work on PRChttps://bit.ly/2vVC0Yihttps://bit.ly/2vQ3fDf6 min
- China is facing many of the problems Japan encountered as it strives for growthThe People’s Republic of China needs to refocus its economy to avoid slipping into an economic downturn that could be worse than the one Japan has suffered for more than the past 2 decades. Comparing the experience of the two countries shows that China faces many of the same issues that prompted the beginning of Japan’s long economic slide in the early 1990s. While some differences could help China avoid Japan’s pitfalls, others could make it even worse.Some economic fixes are needed, and quickly.Read the transcriptshttps://bit.ly/2GhogH0About the authorsYang Yao is a professor at China’s Peking University.Kyoji Fukao is a professor at Japan’s Hitotsubashi University.Tangjun Yuan is a researcher at China’s Fudan University.Read the bookhttps://www.adb.org/publications/slowdown-prc-structural-factors-and-implications-asiaKnow more about ADBI’s work on PRChttps://bit.ly/2vVC0Yihttps://bit.ly/2vQ3fDf5 min
- Indonesia rice subsidy program improves children’s healthHundreds of thousands of children in Indonesia are growing taller and heavier thanks to the government’s rice subsidy program, which ensures better nutrition despite flaws in the scheme.The government started RASKIN—rice for the poor—in 1998 to help poor and near-poor families cope with high food prices in the wake of the Asian financial crisis.Under the program, currently the largest in-kind subsidy scheme in Indonesia, eligible households across the country receive subsidized rice.Rice is a staple food, and accounts for nearly a quarter of the average monthly expenditure of poor households in Indonesia.The program is expected to fulfill 39.5% of poor households’ rice needs.Read the transcripthttps://bit.ly/2K2zrq7Read the reporthttps://www.adb.org/publications/kind-transfer-and-child-development-evidence-indonesiaAbout the authorsBihong Huang is an ADBI research fellowPrachi Gupta was an ADBI research associate when the work was published.Know more about ADBI’s work on Indonesiahttps://bit.ly/2qNSfjYhttps://bit.ly/2vvX1IA6 min
- Green bonds offer a sustainable alternative for Asian development fundingGreen bonds, which first appeared in 2007, finance projects that deliver environmental or climate benefits such as climate change mitigation and adaptation investments.The global green bond market is rapidly growing, from $3 billion in 2012 to more than $100 billion in 2017.The Nordic region, particularly Sweden, Norway, and Finland, has pioneered the issuance of green bonds and used specific mechanisms to access debt markets to issue green bonds.These bonds could be used by developing countries in Asia.The increase in recent years of the use of green bonds is a consequence of a wider awareness among investors of sustainability and climate change following the Paris Agreement on climate change in 2015 and the United Nations’ adoption of the Sustainable Developments Goals.Read the transcripthttps://bit.ly/2v8q1G8Read the working paperhttps://www.adb.org/publications/green-bond-experience-nordic-countriesAbout the authorDarius Nassiry is a senior research associate at the Climate and Energy Programme, Overseas Development Institute, London, United Kingdom.Know more about ADBI’s work on bondshttps://bit.ly/2HvzHgIhttps://bit.ly/2ILj53H6 min
- Japanese investors are looking overseas for returns, but avoiding developing AsiaNegative interest rates in Japan are leading banks, pension funds, and other investors to look overseas for better returns, but they are mostly ignoring developing Asia, and with rates rising in the US and Europe, that is unlikely to change.Alicia Garcia-Herrero, a prominent economist who has worked at the International Monetary Fund and is now chief economist for Asia-Pacific at the French investment bank Natixis, told the annual conference of the Asian Development Bank Institute that investors were being driven from Japanese markets by the low rates used by the Bank of Japan to boost economic activity and end decades of deflation.Read the transcripthttps://bit.ly/2EitXU4Read the bookhttps://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asiaKnow more about ADBI’s work on interest rateshttps://bit.ly/2GxboBshttps://bit.ly/2uL2KKq6 min
- Low rates are hurting developing countries, says Bank of Thailand headUltra-low or negative interest rates in Japan, the United States, and Europe placed a difficult burden on other central banks and may threaten their independence in the future.Veerathai Santiprabhob, governor of the Bank of Thailand, told the annual conference of the Asia Development Bank Institute that, with interest rates low, central banks have taken to using macroprudential tools.They are tinkering with regulations to affect the actions of markets, investors and consumers, and adjusting rules to control the flow of capital through their borders.Read the transcripthttps://bit.ly/2I5Z3kbAbout the speakerVeerathai Santiprabhob is governor of the Bank of Thailand.Watch the whole presentationhttps://youtu.be/1xE2LEPE8Qw?t=142Read the bookhttps://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asiaKnow more about ADBI’s work on financehttps://bit.ly/2DYo5zihttps://bit.ly/2GykwFb6 min
- Central banks are losing power to influence markets as interest rates hit zeroCentral banks are running out of wiggle room, having lowered interest rates, in some cases to zero or negative, and are losing influence over markets becoming accustomed to a low-rate regime.“Forward guidance” is losing traction.Narayana Kocherlakota, former president of the Minneapolis Federal Reserve Bank, says central banks can try to guide public perception by hinting at their intentions, a practice known as forward guidance in banking circles, and he used to think that once interest rates were at the lowest they could go—a position called the lower bound—forward guidance was a good tool to use.But Kocherlakota, now professor of economics at the University of Rochester, told the annual conference of the Asian Development Bank Institute he has changed his mind.Read the transcripthttps://bit.ly/2pKGfQIAbout the speakerNarayana Kocherlakota is a now professor of economics at the University of Rochester.Watch the whole presentationhttps://youtu.be/BKnJS37KbGE?t=2420Read the bookhttps://www.adb.org/publications/implications-ultra-low-and-negative-interest-rates-asiaKnow more about ADBI’s work on financehttps://bit.ly/2DYo5zihttps://bit.ly/2GykwFb6 min
About Asia's Developing Future
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ADBI is the think tank of the Asian Development Bank. We conduct policy research and capacity building to drive sustainable development in Asia and the Pacific.
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