LAUNCH OF UN ECONOMIC AND SOCIAL SURVEY OF ASIA AND THE PACIFIC 2012
The Asia-Pacific region continues to face a deeply challenging external environment. The V-shaped recovery from the depths of the 2008-09 global financial crisis in 2010 proved to be short-lived, as the world economy entered a second stage of the crisis in 2011, continued uncertain economic outlook of the US economy and due to the Eurozone debt crisis. Notwithstanding this slowdown, growth in Asia and the Pacific remains substantially better than in any other region ¨C continuing as an anchor of stability and growth pole for the world economy.
The 2012 edition of the Economic and Social Survey of Asia and the Pacific: Pursuing Shared Prosperity in an Era of Turbulence and High Commodity Prices, analyses the short and medium-term challenges for the region and the outlook for the year ahead. A persistent concern for the region highlighted in the Survey is the challenge presented by commodity price volatility, in particular the trend of rising commodity prices. High prices and persistent volatility are likely to become the ¡®new normal¡¯ of the global economy. This commodity boom presents risks and opportunities for both commodity exporters and importers in the region.
The flagship publication of the Economic and Social Commission for Asia and the Pacific (ESCAP) ¨C the regional arm of the United Nations ¨C provides policy options for governments to overcome these challenges and maintain the pursuit of inclusive and sustainable development in Asia and the Pacific.