Critical Issues for Developing Asia

Abstract

This article identifies eight key critical issues considered to have significance for the developing countries of Asia. (1) Globalization has been used as a strategy to open up emerging markets and eradicate protectionism, with the threat of marginalizing smaller countries and creating new forum of colonialism. (2) Demographics are affecting countries, with falling population growth, aging populations with related economic challenges. (3) Poverty alleviation is a popular political creed, but little observed in reality by get-rich-quick politicians. (4) Likewise, good governance is often applauded but little exercised. (5) Privatization is vital to resolve public sector inefficiencies, but is slow and obstructed by vested interests. (6) Intellectual property protection is equally essential for research and development advancement, but difficult to enforce. (7) Conflicting objectives of promotion of domestic demand and export promotion need to be harmonized for maximum growth. (8) Globalization brings along with it elements of organized crime including high-tech crime, difficult to eradicate.