- The Asia-Pacific region went into this crisis first and many of its economies are emerging from it first as well.
- This is largely driven by stronger-than-expected performance among advanced economies in the region, as well as some large emerging market economies such as China, India, Malaysia, and Thailand.
- Yet the magnitude of output loss is still unprecedented and the weakening of labor force participation and diminished job prospects for youth and women suggest that significant scarring remains likely.
For further details see:
Divergent Recoveries In Asia: History Is Not Destiny