Currently, much of Asia, and especially East Asia, is growing at an impressive rate, though somewhat lower than before the East Asian crisis. According to World Bank (Ghosh 2006) estimates, the East Asian region has averaged 5.6 per cent a year annual growth during 2000–5.1 China is growing much faster.
This is allowing for a very significant reduction in poverty. Continued high growth is crucial from a perspective of poverty reduction, as the number of poor people in East Asia is a high proportion of the world’s poor. Furthermore, continued dynamism in Asia is an increasingly important pillar for growth in the rest of the world.
Therefore, for both reasons, sustaining growth in Asia is important for meeting the Millennium Development Goals (MDGs), as well as for sustaining world economic growth.
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