OPINION: How to Keep the Asian Development Bank Relevant in a Changing Asia
Tuesday, April 29, 2014
Indeed, the growth of Asian economies has been astounding in the wake of World War II, the conflicts in Korea and Vietnam, and the end of colonial rule across the region. By some estimates, China will be the largest and India the third-largest economy in the world by 2025, and Asia-Pacific will account for half of global GDP by 2050.
So, should the region’s leading international financial institution focused on development take a self-congratulatory bow and leave the stage? ADB was precisely founded for the purpose of “fostering economic growth and cooperation in the region of Asia and the Far East.”