Asia's Recovery and Global Imbalances


October 14, 2009, 3:00 AM EDT
Peterson Institute for International Economics, Washington, DC
C. Fred Bergsten (PIIE), Michael Mussa (PIIE), C. Randall Henning (PIIE) and Jong-Wha Lee (Asian Development Bank)

Event Summary

Asian Development Bank (ADB) chief economist Dr. Jong-Wha Lee delivered a speech, "Asia's Recovery and Global Imbalances," at the Peterson Institute on October 14, 2009. Following his remarks, Dr. Lee joined in a panel discussion with PIIE Director C. Fred Bergsten and Senior Fellows Michael Mussa and Randy Henning. The topic of Lee's speech is of particular importance, since Asia leads the global recovery and will play a central role in the rebalancing strategy agreed at the G-20 summit in Pittsburgh.

The session coincides with the US launch of the update to ADB's flagship publication, the Asian Development Outlook (ADO), released in March 2009. Developing Asia is more resilient than previously expected, and the updated outlook reflects this, increasing the region's economic expansion by half a percentage point to 3.9 percent. Similarly, the 2010 growth estimate has been revised upward from 6.0 percent to 6.4 percent.

Event Materials

Presentation: Asia's Recovery and Global Imbalances [pdf]
Jong-Wha Lee
October 14, 2009

Interview: Is China Stepping Up to the Plate?
Nicholas R. Lardy
March 23, 2009