[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-113142-en":3,"doc-seo-113142-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},113142,16904993612988,"Olivia Brown","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","World Bank East Asia and the Pacific Economic Update - April 2022 - Braving the Storms - Summary","World Bank East Asia and the Pacific Economic Update (April 2022) outlines how recurring COVID-19 shocks are now intersecting with new risks that threaten lower growth and higher poverty across the region. Shocks from the war in Ukraine and faster global financial tightening amplify pressures, alongside China’s structural slowdown and additional COVID-19 resurgence. It highlights opportunities from shifts in trade, digital diffusion, productivity gains, and viable green technologies, and proposes four policy steps to mitigate risks and capture these opportunities.","Public Disc losure Authorized  \nWORLD BANK EAST ASIA AND THE PACIFIC ECONOMIC UPDATE APRIL 2022  \nBRAVING THE STORMS: SUMMARY  \nPub lic Disclosure Authorized Pub lic Disc losure Authorized Pub lic Disclosure Authorized  \nWORLD BANK EAST ASIA AND THE PACIFIC ECONOMIC UPDATE APRIL 2022  \nBraving the Storms: Summary  \nBRAVING THE STORMS  \nSummary  \nJust as the EAP region was weathering the recurrent CoViD-19 storms, three clouds have gathered over the economic horizon, which will mean lower economic growth and higher poverty.  \n• Most recently, shocks emanating from the war in Ukraine are disrupting the supply of commodities, increasing financial stress, and dampening global growth.  \n• The war comes on top of not just the lingering pandemic, but two other developments.  \n• Us inflation ignited by the stimulus-led rebound and persistent supply disruptions could provoke fasterthan-anticipated financial tightening, perhaps timely in the Us but too early in many EAP countries where recovery is incomplete.  \n• China’s structural slowdown, deleveraging of the real estate sector and CoViD-19 resurgence amidst zeroCOVID policies, could dampen regional exports.  \nSet against these shocks, are some opportunities.  \n• Shifts in the trade landscape are creating new export niches: in manufacturing, for other EAP countries as some production moves out of China; in services, as digital delivery, renders tradeable a wider variety of tasks.  \n• The diffusion of digital technologies could boost productivity, not just of the few countries and firms close to the frontier, but also of the many in the inefficient interior.  \n• The increased viability of green technologies could allow EAP countries to cut carbon emissions and cope with the new energy insecurity without unacceptable cuts in consumption or growth.  \nTo mitigate the risks and grasp the opportunities, countries must take four steps:  \n• Enhance efficiency of fiscal policy for recovery and growth. More efficient and targeted support to households and firms would limit pain from the cumulative shocks and create space for investment in the infrastructure of trade, energy, and technology diffusion. Fiscal support implemented by entities like local governments and state-owned enterprises must not undermine their financial viability. Committing to fiscal rules and future reforms of revenue and expenditure would help reconcile spending needs with tightening budget constraints amidst growing debt.  \n• Strengthen macroprudential policies to mitigate risks from global financial tightening. Monetary policy must remain alert to new inflationary pressures but at present can continue to support recovery, because real interest rates are relatively high and core inflation relatively low. stress-testing diagnostics are needed to help identify vulnerabilities that might fester behind the veil of regulatory forbearance and implicit guarantees. Measures could then be taken where needed to capitalize banks, hedge and extend the maturity of debt, and enhance liquidity buffers.  \n• Reform trade-related policies in goods and, especially, in still-protected EAP services sectors to take advantage of shiftsin the global trade landscape. in addition, facilitating domestic labor mobility, as well as entry and exit of firms, would allow reallocation of resources in response to the global shocks. Refraining from national export restrictions in the face of rising global prices could help avert an even worse global outcome. Participation in deep trade agreements could catalyze reform at home and secure access to markets abroad.  \n• Policy reform and assistance to encourage diffusion of technology. Increased domestic and international competition could strengthen incentives for productivity-enhancing technology adoption. Enhancing managerial and technical skills, and improving access to finance as well as digital infrastructure would boost the capacity for technology adoption. Eliminating domestic distortions, such as tho","cbCaiq623tIogorf","https://ap.wps.com/l/cbCaiq623tIogorf","pdf",2876819,1,14,"English","en",105,"# Braving the Storms: Summary\n## Key shocks and outlook\n## Opportunities from trade, digitalization, and green technologies\n## Four policy steps to mitigate risks and capture opportunities\n## Overview of recovery and revised growth projections","[{\"question\":\"What major shocks are driving lower growth and higher poverty in EAP economies?\",\"answer\":\"The summary points to shocks from the war in Ukraine, lingering pandemic effects, potential faster global financial tightening due to rising inflation, China’s structural slowdown, and COVID-19 resurgence under zero-COVID policies.\"},{\"question\":\"What opportunities does the update identify despite the adverse environment?\",\"answer\":\"It highlights new export niches from shifts in manufacturing and services, productivity gains from diffusion of digital technologies, and the increased viability of green technologies to cut carbon emissions while managing energy insecurity.\"},{\"question\":\"What four steps does the update recommend to mitigate risks and seize opportunities?\",\"answer\":\"Enhance the efficiency of fiscal policy, strengthen macroprudential policies, reform trade-related policies in goods and especially protected services, and support technology diffusion through competition, skills, finance access, digital infrastructure, and reduction of domestic 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major shocks are driving lower growth and higher poverty in EAP economies?","Question",{"text":74,"@type":75},"The summary points to shocks from the war in Ukraine, lingering pandemic effects, potential faster global financial tightening due to rising inflation, China’s structural slowdown, and COVID-19 resurgence under zero-COVID policies.","Answer",{"name":77,"@type":72,"acceptedAnswer":78},"What opportunities does the update identify despite the adverse environment?",{"text":79,"@type":75},"It highlights new export niches from shifts in manufacturing and services, productivity gains from diffusion of digital technologies, and the increased viability of green technologies to cut carbon emissions while managing energy insecurity.",{"name":81,"@type":72,"acceptedAnswer":82},"What four steps does the update recommend to mitigate risks and seize opportunities?",{"text":83,"@type":75},"Enhance the efficiency of fiscal policy, strengthen macroprudential policies, reform trade-related policies in goods and especially protected services, and support technology diffusion through competition, skills, finance access, digital infrastructure, and reduction of domestic distortions.","https://schema.org",{"og:url":51,"og:type":86,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":88,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":91},[92,96,100,104,109,114,119,122,127,130,134],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":93,"show_sort_weight":94,"slug":95},"Story & 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