Inclusive policy for a fairer Asia-Pacific

Against the backdrop of a sluggish global economy, lackluster trade growth and uncertainty in major economies, countries in the Asia-Pacific region are still likely to have a growth rate of 4.9 percent this year.

The region continues to lead in global economic growth, mainly bolstered by major economies such as China and India. However, if the remaining challenges are not adequately addressed, they could scuttle stability and undermine the efforts to meet the ambitious goals of the UN's 2030 Agenda for Sustainable Development.

The year-end update of the Economic and Social Survey for Asia and the Pacific 2016 - an annual assessment by the UN Economic and Social Commission for Asia and the Pacific - pins the resilience of the region's economies on ongoing fiscal and structural reforms, but cautions that the pace of economic expansion over the past years did not help create decent jobs in a number of countries. The result is a high share of vulnerable employment and widening income inequality, which could lead to "economies of exclusion". It is telling that the population-weighted Gini coefficient in the region, based on household income estimates, increased by 11 points or 30 percent, from 37 to 48, between 1990 and 2014.