The healthy expansion is expected to continue drawing on strong internal dynamics, particularly, growth in the PRC and structural improvements in South Asia.
Despite all of this, we continue to be cautiously optimistic on developing Asia.
Rapid poverty reduction requires not only high rates of economic growth but also that the benefits of this growth be distributed more equitably.
Asia needs to make sure its demographic dividend doesn't turn out to be its biggest problem. All those people arriving at urban train stations could be a big plus or a big minus.
Asian governments are making significant progress in the fight against poverty.
We are already witnessing major strains in many of our developing countries.
This is a change of historic proportions that will pose huge development challenges. You saw what happened with one flood in Bombay last year -- we could see similar and growing risks across Asia.
We are seeing a huge increase in all import bills. Some of them are beginning to feel pressure on the external balance of payments. Fiscal strains in India, Indonesia, Bangladesh are particularly huge.
I think this is an issue that should not be politicized but has to be addressed with clinical objectivity.
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