Economic daily New York May 2 (xinhua zhu continuous coverage: the United Nations in the asia-pacific headquarters of ecosoc in Bangkok, Thailand on May 1, released the annual flagship report "economic and social investigation in the asia-pacific region". Report stresses that in the face of global uncertainties and rising trade protectionism trend, the region's economies in 2017, the momentum of economic growth significantly, but strengthen effective management and improve financial management is very important to economic growth.
The report predicts that the region's developing economies will grow by 5 or 5.1 per cent between 2017 and 2018, higher than the average of 4.9 per cent last year. China remain the leaders of asian-pacific economic growth.
China's economy will run smoothly in 2017, the report said, adding that higher-value industries are gradually replacing overcapacity and driving production and employment. At the same time, because the government to further advance "deleveraging and restructuring in order to" in the medium term to boost output, economic growth will continue to slow, gross domestic product (GDP) growth rate is expected to be down to 6.5% from 6.7% last year. At the same time, India's economy is expected to grow by 7.1% this year, as spending on domestic consumption and infrastructure increases. In addition, Russia's economy is expected to grow 1.1 percent in 2017 from a 0.2 percent contraction last year, due to a rising international oil price this year.
According to the report, the economic growth in the asia-pacific region still faces by the risks of protectionism and global uncertainty, if the deterioration of the above factors, the region in 2017, the average growth rate will fall by 1.2%. The ecosoc executive secretary ahmed chalabi said, due to the international market demand continued weakness and rising trade protectionism, the influence of the asia-pacific region economy is currently in a stable and moderate growth trend; To achieve sustained and robust economic growth in the future, countries in the asia-pacific region need to rely on more productivity, it needs to be in the public and the private sector to build more effective institutions, and further improve the governance mode; At the same time, policymakers also need to actively address social and environmental challenges in order to improve the quality of current economic growth.
To cope with the challenge of the above, the report calls for asia-pacific countries strengthen effective management, through the proactive fiscal policy, in view of the infrastructure, social security, and efficient use of resources and other key areas to carry out the productive investment; At the same time, we will further excavate and expand potential production capacity through structural reforms that complement fiscal policy. In addition, regional governments should provide favorable policy environment, institutions and public services to help the product market function efficiently. Report also recommends to improve health care services in the Pacific, promote economic diversification of north Asia and central Asia region, in the south and southwest Asia to create more decent jobs and reduce the development of southeast Asia and the gap between rich and poor, and accelerate the ecological innovation work of east Asia and northeast Asia.