Temasek Lecture- Charting Asia’s Development Narrative: The Philippine Economy’s Journey скачать в хорошем качестве

Temasek Lecture- Charting Asia’s Development Narrative: The Philippine Economy’s Journey

Charting Asia’s Development Narrative: The Philippine Economy’s Journey to Sustainable Growth and Inclusion Extensive discussions have focused on Asia's remarkable growth over the past half century, emphasizing the region's extraordinary economic transformation across numerous economies. The growth and development narrative has been that these economies benefitted greatly from policies and institutions promoting open trade and greater investment mobility, especially as new technologies helped enable an increasingly globalized, rule-based world order. However, various geopolitical and economic stresses that cut across national borders—the megatrends—are reshaping the contours of the narrative, potentially eroding the gains in recent decades of unprecedented growth for many of the emerging economies. The lecture describes some dominant megatrends within the Asian context, particularly their implications on the development narrative for small, emerging, open economies, including the Philippines. It highlights (1) the unfolding reversal of economic order from rules-based multilateralism to sovereign trade protectionism, (2) the geopolitical tensions, including the rivalry between economic superpowers, that disrupt supply chains and markets, (3) the widening inequalities that feed social unrest and populist narratives, (4) the rapidly changing climate and the high cost of energy transition for these economies, (5) the rapid ascent of disruptive technologies and their effects on labor markets, and (6) and the rapid demographic shifts and population aging even among many of the emerging economies. Finally, the lecture discusses the Philippine development journey in light of the broader regional and global setting. Periods of boom-bust economic growth until the turn of the twenty-first century have resulted in slower economic development relative to that of its Asian peers. However, major structural reforms sustained over the last three decades have elevated the economy's performance, improving its standing among Asia's fastest growing economies in the past 15 years, except in the COVID-19 pandemic year of 2020, when the economy contracted sharply owing to unduly long, severe mobility restrictions. The geopolitical tensions and other economic stresses, particularly tit-for-tat trade protectionism, pose risks to sustainable growth and social inclusion. However, in responding to these risks, the country must take cognizance of the lessons learned from its development journey and those of its neighbors. These lessons include maintaining sound economic fundamentals, ensuring that the government's responses support a robust investment climate and foster long-term growth and development. View Event listing here: https://lkyspp.nus.edu.sg/news-events... #GovernancefortheFuture #publicpolicy #policymatters ================================================ Visit us Website: http://lkyspp.nus.edu.sg Follow us on Facebook:   / nuslkyspp   Twitter:   / lkysch   Instagram:   / lkyspp   LinkedIn University Page: https://www.linkedin.com/edu/school?i... Subscribe and click on the bell icon to be the first to watch our videos! 🔔