East Asia Pacific continues to be the engine driving the global economy, contributing 40 percent of the world’s GDP growth - more than any other region. With overall global growth accelerating, now is the time for developing economies to make structural and policy reforms to sustain growth, reduce poverty and improve the lives of the poor and vulnerable.For long term India should also adopt these policies. For short term reduce reliance and foreign currency denominated debt, accepting a weaker exchange rate when growth is below potential, and building policy buffers to respond to changing global liquidity conditions are some of the ways that can help economy to recover.
Posted on: Wed, 09 Oct 2013 15:17:21 +0000
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