The financial crisis that hit the world in September 2008 has triggered an extremely complex multidimensional systemic global crisis which is affecting all regions and countries.
Increasing unemployment and poverty levels in Asia and the Pacific may contribute to generate political and social troubles in the region. Policymakers in the region (as elsewhere in the world) now face the challenge of simultaneously coping with a sudden recession in most developed economies, a collapse in commodity prices, a severe liquidity setback, and, most of all, loss of confidence. Consequently, if the current economic crisis is not addressed from a political and social perspective as well, its impact on growth is likely to be pronounced and could significantly delay the region’s achieving of its development goals toward poverty reduction and inclusive growth.
A global crisis requires a coordinated global response. Asia will play a key role in the management of the crisis and will surely have a new and significant role within the global governance system emerging from the latter. In line with this, the Club of Madrid is working on the organization of the roundtable on “The Political Dimensions of the World Economic Crisis: an Asian Perspective” to be held in the first half of 2010 at the Headquarters of UNESCAP in Bangkok (date to be determined).
We wish to acknowledge and thank the following organizations that make this Roundtable possible: