Asia has become a key part of the global economy and given its current rate of growth, the region is expected to account for a rising share of the world economy.
However, the challenge is to sustain and strengthen this growth.
To present a holistic view of some of these issues, United Nation's Economic and Social Commission for Asia and the Pacific (UNESCAP) launched its flagship publication: Economic and Social Survey of Asia and the Pacific 2008 on March 27, 2008 in New Delhi, India.
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Launch of the Survey in New Delhi / Photo credit: UNESCAP
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Marking its 60th anniversary this year, the survey was launched simultaneously in 23 places across Asia-Pacific.
In New Delhi, the Survey was launched by Kamal Nath, India’s Minister of Commerce and Industry in presence of Noeleen Heyzer, Under-Secretary General of the United Nations and Executive Secretary of the UNESCAP.
The 2008 Survey entitled “Sustaining Growth and sharing Prosperity”, examines the most critical issues, challenges and risks confronting the Asia-Pacific region in its socio-economic spheres of development.
Speaking at the launch, Nath said that Asia-Pacific region has tremendous resilience and is projected to grow at 7.7% as projected by the Survey. However, the socio-economic scenario of the region demands immediate attention.
As part of the defence mechanism against external shocks, what is needed is a strong macro-economic foundation and social protection of communities at risk.
Policy neglect
Due to absence of rural infrastructure, incomplete land reforms and limited alternative income generating activities, agriculture productivity has declined.
Heyzer felt that a ‘revolution’ through improved productivity in agriculture can help in overcoming decades of policy neglect that has impoverished 218 million people, according to the Survey.
The Survey says that fresh attention needs to be paid to agriculture which is a source of livelihood for 60% of the region’s population.
All this has caused widening of income disparity between the rich and the poor
Heyzer also noted that recent rising food prices and soaring demand of biofuels have hit the poor the hardest.
Through this Survey, the UNESCAP attempts to analyse policy options like diversification and commercialisation of rural economic activities.
The Survey recommends a two-pronged strategy to revitalise agriculture. First is by improving agricultural technology. Secondly, there is a need to facilitate migration out of agriculture and to promote rural non-farm sector.
In this regard, Heyzer welcomed India’s recent measure of giving farmers a huge debt waiver.
She also emphasised on ‘green growth’ that seeks to link economic development with pollution control, energy use, water, health and sanitation and efficient utilisation of available resources.
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