Countries in the Asia Pacific region will continue to bolster the global economy in 2011, with strong growth of 7.3% against 8.8% last year, said the Economic and Social Commission for Asia and the Pacific (ESCAP), UN on Thursday.
But these economies will face higher food prices and oil prices, slow recovery of the rich and the side effects of natural disasters, it said.
"The Asia-Pacific emerges from the global financial crisis as a growth factor and a lifeline to the world economy," said Noeleen Heyzer, the UN undersecretary-general and secretary of ESCAP.
"Now we have an historic opportunity to rebalance the economic structure su favor to support its momentum with a balanced regional development and thus make a real 21st-century Asia-Pacific century," he added.
Despite the rapid growth of this region, more than 950 million people live there under the $ 1.25 daily.
But these economies will face higher food prices and oil prices, slow recovery of the rich and the side effects of natural disasters, it said.
"The Asia-Pacific emerges from the global financial crisis as a growth factor and a lifeline to the world economy," said Noeleen Heyzer, the UN undersecretary-general and secretary of ESCAP.
"Now we have an historic opportunity to rebalance the economic structure su favor to support its momentum with a balanced regional development and thus make a real 21st-century Asia-Pacific century," he added.
Despite the rapid growth of this region, more than 950 million people live there under the $ 1.25 daily.
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