ADB President Encourages Regional Integration to Boost Development

    Regional cooperation in Asia, particularly among East Asian emerging economies, is crucial to the region’s development, Asian Development Bank head Haruhiko Kuroda told Xinhua News on the sidelines of an annual development forum held March 21 in China.

    “In the coming five years or more than five years, some developed economies, including the U.S. and European economies, would recover rapidly, but their consumption may not increase so rapidly as it used to be.” Kuroda said as quoted by Xinhua, “That means Asia must rebalance its source of growth from external demand to domestic and regional demand.”

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    • Ivy Mungcal

      As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.