Abstract

For decades the Asia-Pacific region has been driving global economic growth despite occasional setbacks, such as the collapse of economies in Central Asia immediately following the breakdown of the Soviet Union in 1991 and the 1997–98 Asian financial crisis. Most of the countries in the region have also done well in achieving the Millennium Development Goals (MDGs). In fact, the attainment of the single most critical MDG – halving the global poverty rate – was due to rapid declines in extreme poverty in the region.

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