Economic and Social Survey of Asia and the Pacific 2007

The region's oldest and most comprehensive annual review of economic and social developments forecasts the external environment in Asia-Pacific to be less favourable in 2007, but sees continued dynamism despite risks of further oil price shocks, and a sharp depreciation of the US dollar. The Survey warns that interventions by monetary authorities to keep currencies down are leading to inflated asset values, especially in housing and equity markets. Managing exchange rates will be the biggest challenge facing Asia-Pacific economies in 2007.