The rapid development of Asia-Pacific economies over the past few decades has lifted millions out of poverty. However, the high economic growth has masked key social issues, particularly inequality, and the recent global financial crisis and COVID-19 pandemic have forced such issues into the mainstream.
This year's Economic and Social Survey of Asia and the Pacific, produced by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), suggests that Asia-Pacific economies must prioritize inclusive growth - whereby citizens of all socio-economic groups are able to improve their livelihoods, incomes, health and education levels. It further highlights the roles that fiscal, central banking and structural policies can play in the quest for building an inclusive stakeholder economy.
