Rapid poverty reduction requires not only high rates of economic growth but also that the benefits of this growth be distributed more equitably.
The healthy expansion is expected to continue drawing on strong internal dynamics, particularly, growth in the PRC and structural improvements in South Asia.
Strong economic growth alone won't solve the problem.
Strengthening the inclusiveness of the growth process is a precondition to sustaining high growth rates.
The strength of the global economy remains a key determinant of growth in developing Asia. The major industrial economies are expected to grow close to potential and global trade will remain firm this year.
In India, for example, we could step back from 7-8 per cent growth to 3-4 per cent growth very easily within five to six years if unemployment and underemployment is not addressed.
We see more affluent youth going in for consumption, which is something that's very new for this part of the world.
Asia needs to make sure its demographic dividend doesn't turn out to be its biggest problem. All those people arriving at urban train stations could be a big plus or a big minus.
Governments must invest, plan and safeguard against things like that. At the same time, this region needs to increase the number of good jobs and education to prepare for fast-growing populations in cities.
Governments have no option but to perform.
In Asia, for a long time we have been in denial about the sustainability of high oil prices. There is tremendous potential for Asia to improve efficiency.
The outlines of an Asian employment crisis are already taking shape. Strong economic growth alone will not solve the region's problem.
Just look at the organized sector of the economy in a country such as India, which employs less than 10 percent of workforce, you are worrying about this when there is a multitude of people completely being bypassed.
In order for rapid population growth to matter, a nation must steadily create good, decent- paying jobs to benefit from it.
We are seeing a huge increase in all import bills. Some of them are beginning to feel pressure on the external balance of payments. Fiscal strains in India, Indonesia, Bangladesh are particularly huge.
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