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Asia–Pacific

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Not to be confused withAIPAC,APEC,Indo-Pacific,orPacific Asia.
Member nations of theAsia-Pacific Economic Cooperation(APEC)

TheAsia–Pacific(APAC)[1]is the region of the world adjoining the westernPacific Ocean.The region's precise boundaries vary depending on context, but countries and territories inAustralasia,East Asia,andSoutheast Asiaare often included. In a wider context,Central Asia,North Asia,thePacific Islands,South Asia,West Asia(excluding theArabian Peninsulaand theLevant), and evenPacific-adjoining countriesin theAmericascan be included. For example, theAsia-Pacific Economic Cooperation(APEC) includes five countries (Canada,Chile,Mexico,Peru,and theUnited States) in theNew World.The term has become popular since the late 1980s in commerce, finance, and politics. Despite the heterogeneity of the regions' economies, most individual nations within the zone are emerging markets experiencing rapid growth. Sometimes, the notion of "Asia–Pacific excluding Japan" (APEJ) is considered useful.[2]

Related regions[edit]

List of countries and territories by subregion[edit]

Asia and the Pacific region, according to theUnited Nations Economic and Social Commission for Asia and the Pacific(ESCAP)

In accordance with theUnited Nations Economic and Social Commission for Asia and the Pacific(ESCAP), the Asia–Pacific region includes a total of 51 countries and seven territories grouped into fivesubregions:[3]

In a wider context, the following countries and territories can also be included in the Asia–Pacific region:

Economic Overview[edit]

The World Bank's April 2024 update indicates that the growth rate for the Asia-Pacific region, excluding China, is expected to slightly increase to 4.6% in 2024, up from 4.4% in 2023. This underscores a diverse economic resilience against global pressures. Meanwhile,global tradegrowth, which was minimal at 0.2% in 2023, is projected to improve to 2.3% in 2024, crucial for the region's export-oriented economies. However, private investment remains belowpre-pandemiclevels due to higher debt levels and rising interest rates, signaling a cautious investment climate. The region faces significant challenges from both external factors, such as high core inflation and modest global trade recovery, and domestic issues like increased debt and political uncertainties, potentially hindering economic growth. Additionally, a hypothetical 1% decline inGDPgrowth in the US or China could reduce GDP growth in other developing Asia-Pacific economies by approximately 0.5% and 0.3%, respectively. The increase in trade-distorting measures, which have tripled since 2019 amongG-20countries, reflects a trend towards protective industrial policies, although other East Asia-Pacific countries, except forChinaandIndonesia,have been less involved in these measures.[4][5]

See also[edit]

References[edit]

  1. ^"Digital creativity and innovation lacking in kids in APAC: report".May 10, 2019.Archivedfrom the original on May 4, 2021.RetrievedMay 4,2021.
  2. ^Pan, Hui, ed. (October 2004)."Vonage and Cisco to sell phone equipment".VoIP Monthly Newsletter.2(10). Information Gatekeepers Inc: 3.Retrieved2011-12-15.APEJ (Asia-Pacific Excluding Japan) and EEMEA (Eastern Europe, Middle East, and Africa) will grow their combined share of this figure from 17 percent to 22 percent during the same period, as North America's share adjusts from 53 percent to 46 percent.
  3. ^"List of countries in the Asia-Pacific region and subregions".www.unescap.org.Archivedfrom the original on 2023-04-02.Retrieved2023-09-29.
  4. ^"Firm Foundations of Growth: East Asia and Pacific Economic Update, April 2024".World Bank.Retrieved2024-04-11.
  5. ^World Bank. (2024).Firm Foundations of Growth: East Asia and the Pacific Economic Update April 2024.Retrieved April 11, 2024, from https://doi.org/10.1596/978-1-4648-2102-8

External links[edit]

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