ADB Releases New Economic Forecast for Asia Pacific

WHAT: Dr. Shang-Jin Wei, Chief Economist at the Asian Development Bank (ADB), will unveil findings of the Asian Development Outlook 2015 at the University of Toronto on Wednesday, April 8 at 12 p.m. The annual economic forecast provides a comprehensive analysis of macroeconomic issues in developing Asia, with growth projections by country and region. ADO 2015 includes analysis of 45 economies, including People's Republic of China, Myanmar, Afghanistan and India.

WHY: From the trough of the global financial crisis in 2009, developing Asia has contributed 2.3 percentage points to global GDP growth—nearly 60% of the world's annual 4.0% pace. Eight economies in the region posted growth exceeding 7.0% in nearly every year of the post-crisis period, including the People's Republic of China (PRC), the Lao People's Democratic Republic, and Sri Lanka. Growth in the United States, where recovery seems to have turned a corner, is leading major industrial economies. While signs are mixed in the euro area and Japan, soft oil prices and accommodative monetary policy will support growth.

WHEN: Wednesday, April 8, 2015, 12 p.m.

WHERE: Rotman School of Management, University of Toronto, 105 St George Street, Toronto

RSVP: Michael Reyes, ADB External Relations, mreyes@adb.org, 202-728-1504

Shang-Jin Wei, Chief Economist, Asian Development Bank

Mr. Wei is the chief spokesperson for ADB on economic and development trends, and leads the Economic Research and Regional Cooperation Department, which publishes ADB's flagship knowledge products.

Mr. Wei, born in the People's Republic of China and a national of the United States, has a long and distinguished career in academia and international finance and trade. Before joining ADB he was the N.T. Wang Chair and Director of the Chazen Institute of International Business at Columbia University, Director of the National Bureau of Economic Research's working group on the Chinese economy, and a research fellow at the Center for Economic Policy Research (Europe).

Prior to Columbia University, Mr. Wei was an Assistant Director and Chief of Division at the International Monetary Fund (IMF) where he led the Fund's policy research and advised on issues in international trade, investment, globalization, and related topics. He was IMF Chief of Mission to Myanmar in 2004.

Mr. Wei served as an advisor on anti-corruption policy and research at the World Bank from 1999 to 2000. He was an assistant and associate professor at Harvard University from 1992 to 1999.

Mr. Wei earned a PhD in Economics and a Master's degree in Finance from the University of California, Berkeley; a Master's degree in Economics from Pennsylvania State University; and a Bachelor's degree in World Economy from Fudan University in the People's Republic of China.

 

SOURCE Asian Development Bank

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