Asia symbolizes stability, strong performance

The Asia-Pacific region is expected to remain the world's growth leader. This contrasts with the global economic landscape, where growth remains uneven against a backdrop of continued low oil prices, sharp variations in exchange rates of major currencies and potential financial market volatility.

Growth in the region is expected to hold steady at 5.6 percent in 2015, easing slightly to 5.5 percent in 2016. Domestic demand is forecast to remain strong, supported by healthy labor market conditions, historically low interest rates and low oil prices. Exports will continue to benefit from the recovery in advanced economies and weaker exchange rates in some economies, despite the slowdown in some major emerging markets and the trend decline in exports' responsiveness to partner country demand, reflecting greater on-shoring of production.

The growth momentum in the largest Asia-Pacific economies, while good overall, is expected to remain mixed. China's economy is gradually slowing to a more sustainable pace, with GDP projected to increase by 6.8 percent in 2015 and 6.3 percent in 2016 as the orderly correction in the residential real estate sector is expected to compress real estate investment. Slowing activity, in part, reflects progress in reducing vulnerabilities.