Global Economics Monthly: Asian Economics: A Quarter for Thirds
November 26, 2013
Future economic historians may look back on the fourth quarter of 2013 as a moment when the seeds of major change in the Asia-Pacific region were planted. China’s Communist Party announced sweeping reforms at the Third Plenum of its 18th Central Committee that could mark a fundamental reorientation of the region’s largest economy. Japanese Prime Minister Shinzo Abe made another attempt to fire the “third arrow” of his bold economic revitalization strategy. And negotiators in the Trans-Pacific Partnership (TPP) scrambled to meet a year-end deadline for completing a landmark agreement covering one-third of world trade. If successful, any one of these developments would be historic; together they could bend the arc of Asia-Pacific prosperity for decades to come.