OECD: launch of Economic Outlook for SE Asia, China and India
Published 28 November 2014
© Crown copyright 2014
This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated. To view this licence, visit nationalarchives.gov.uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gov.uk.
Where we have identified any third party copyright information you will need to obtain permission from the copyright holders concerned.
This publication is available at https://www.gov.uk/government/publications/oecd-launch-of-economic-outlook-for-se-asia-china-and-india/oecd-launch-of-economic-outlook-for-se-asia-china-and-india
0.1 Summary
The OECD’s Economic Outlook for South East Asia, China and India, which focused on strengthening Institutional capacity was launched on 13 November. The annual report offers a range of recommendations for each of the countries it covers The report will give added momentum to the OECD’s South East Asia Regional Programme, launched at the OECD’s Ministerial meeting in May 2014.
0.2 Detail
The OECD’s Economic Outlook for South East Asia, China and India, which focused on strengthening Institutional capacity was released on 13 November. It can be downloaded from the OECD website.
For the busy reader there is a pocket version.
There are four key messages:
- Although growth in Emerging Asia will moderate gradually due to the slowdown in China, for the ten ASEAN countries as a whole, growth momentum remains robust and broadly similar in the past ten years, averaging 5.6% in 2015-19.
- National Development Plans need to have targets and these need to be implemented
- Public sector reforms need to be adapted to match country circumstances
- The informal sector presents a barrier to growth and needs a comprehensive approach.
In addition the report flags a range of external risks namely US monetary policy, the slowdown of the Chinese economy and the implementation of structural policy in Japan and a range of internal risks including leadership change and political uncertainty. Overall challenges for the region include a dependence on external demand, diversification, inflation and current account deficits. There are also a number of disparities between the countries in the region around education and access to electricity.
0.3 Comment
The report focuses on areas suggested by regional governments and is linked to the OECD’s South East Asia Regional Programme launched at the OECD Ministerial in May 2014. Through its individual Structural Policy country notes offers a range of recommendations for each of the countries it covers. These range from tackling informality, to support to improve infrastructure and from improving IP protection to increasing institutional capacity.
0.4 Disclaimer
The purpose of the FCO Country Update(s) for Business (”the Report”) prepared by UK Trade & Investment (UKTI) is to provide information and related comment to help recipients form their own judgments about making business decisions as to whether to invest or operate in a particular country. The Report’s contents were believed (at the time that the Report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by UKTI or its parent Departments (the Foreign and Commonwealth Office (FCO) and the Department for Business, Innovation and Skills (BIS)) as to the accuracy of the Report, its completeness or its suitability for any purpose. In particular, none of the Report’s contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument. No liability is accepted by UKTI, the FCO or BIS for any loss or damage (whether consequential or otherwise) which may arise out of or in connection with the Report.