Abstract
The paper discusses key challenges faced throughout the Asia and the Pacific region as a number of its developing economies graduate from low-income status to middle-income status at the same time as the region remains home to the majority of the world's poor people and a number of fragile states. The region is gaining increased influence in the world economy but is still grappling to overcome interrelated challenges of poverty and sustainable development, so its priorities will be of significant importance in informing the contents of any post-2015 global development framework. Drawing from the ongoing lessons of the Millennium Development Goal process, this paper suggests a conceptual framework for setting a new generation of goals and, informed by these concepts, proposes an intergovernmental approach to implementation. The “ZEN” framework stresses the distinct challenges of achieving zero extreme poverty (Z), setting country-specific “Epsilon” benchmarks for broader development challenges (E), and promoting environmental sustainability both within and across borders (N).
Highlights
Among the world’s developing regions, Asia1 has undoubtedly seen the most dramatic overall transformation since 2000
The fastest reductions came from East Asia, especially in the People’s Republic of China (PRC), poverty rates declined in all regions of developing Asia
Recognizing the complexities embedded in fostering global political agreement on development issues beyond extreme poverty, a distinction can be made between two categories of Epsilon goals
Summary
Addressing the Range of Perspectives across Asia and the Pacific The paper aims to present the key challenges being faced by the Asia and Pacific region as a number of its developing economies graduate from a low-income status to middle-income status. In the wake of the region’s growing influence in the world economy, and its struggles to overcome income and nonincome dimensions of poverty, the region’s challenges have a significant role in shaping the post-2015 development framework. About the Asian Development Bank ADB’s vision is an Asia and Pacific region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their people. Based in Manila, ADB is owned by 67 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance. Asian Development Bank 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org/economics
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