Firm Foundations of Growth: East Asia and Pacific Economic Update, April 2024

The East Asia and Pacific (EAP) region is growing faster than the rest of the world, but slower than before the pandemic. 

While recovering global trade and easing financial conditions will support regional economies, increased protectionism and policy uncertainty will dampen growth.

Amid macroeconomic turbulence, strong microeconomic foundations are critical for longer-term growth. Firms play a pivotal role in driving productivity, but leading firms in the region are not fully leveraging new technologies.  

How can these firms catch up with global leaders?  What can be done to spur productivity growth?