Labour and social trends in Asia and the Pacific 2006: progress towards decent work

The dynamism of the Asia-Pacific region has been manifested not only by its rate of economic and productivity growth but also by its rapid and competitive integration into global markets for goods, services and investment. Asia has had exceptional export performance compared to other regions of the world. Intra-Asian trade has been growing much faster than trade with the rest of the world. Many Asian countries are now trading more between themselves than with other non-Asian markets – reflecting both the rising importance of Asian consumers and the growing involvement of Asian countries in different stages of global production systems. The region houses major global production systems operated by multinational enterprises. The two main engines behind the rise of Asia are China and India. They have emerged as global economic powerhouses, shifting the growth pole from the West to the East.