Growth in developing Asia is moderating but remains robust. As global trade slows and investment weakens, regional growth forecasts are trimmed from Asian Development Outlook 2019 by 0.3 percentage points for 2019 and by 0.1 points for 2020 compared to April forecasts. The revisions reflect gloomier prospects for international trade and evidence of slowing growth in the advanced economies and the People's Republic of China, as well as in India and the larger economies in East and Southeast Asia.
Developing Asia is also urbanising rapidly, promising job creation and economic growth. As cities expand over municipal boundaries and become more connected with one another through flows of goods, services, and people, better planning coordination is needed at all levels of government. Realising their promise requires a holistic agenda for cities. Cities must ensure:
- An efficient multi-modal public transport system;
- Land-use plans and regulations that align with infrastructure investments, promote environmental sustainability and resilience, and are sufficiently flexible to respond to market signals; and
- Affordable housing with access to both basic infrastructure and social services such as education and health care.