The OECD or the Organisation for Economic Co-operation and Development has been in place for over fifty years so far, and it facilitates cooperation between countries on a global level and their economies. The role of Asian countries grew strong as part of the organization with members such as technologically advanced Japan and China with an emerging market. Along with China, Indonesia and India also became key partners in the exchange of common economic policies and experience. In 2012 and 2013, China and India were taken under a closer look and measures have been taken to shrink the gap between the developed societies and economies and the emerging economic markets in Asia. The Southeast Asian Economic Outlook that was mapped in 2013 also reiterates Asia’s role in the global economy. Asia went through a financial crisis in the 1990s, after which bond markets, the banking systems, and others have been remodeled which eventually led to a steady position of Asia during the global financial crisis of 2008. Even though, Asia has good odds for a continued economic growth in the following years as well, there are some challenges that it has yet to overcome.
If you have any questions about the site, please feel free to contact us.