It is time for Asia to be the engine for world growth



Filed under : International

International Monetary Fund (IMF) to assess the country’s economic growth in Asia will cause the region to play a new role as an engine of world growth.
Economic growth must be accompanied efforts to reduce poverty.
The global crisis has given a new role on the continent of Asia as an engine of world economic growth. Now, it’s time Asia has arrived.
Poverty reduction becomes a priority for the IMF so that economic growth not only enjoyed by certain groups.
Differences in economic growth in Asia and the poverty gap between States should be handled.

Currently 24% of population in the Asia Pacific region is still in poverty, while the percentage of poor population in each country varies between 4% to 55%.
Thus there are several problems that must be overcome so that the role as engines of sustainable growth can continue.
Asia needs to transform its economic policies in order to avoid relying on external demand. Need to strengthen the domestic economy.

Related to the monetary crisis that had swept Asia in 1998, Kahn said the IMF made some mistakes in its policy. “We learned from past mistakes.”
He emphasized the IMF expects the country in the Asia can work together again to support the global economy.

News source: electronic media and newspapers July 12, 2010

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