The New Coronary Pneumonia Epidemic Situation Brings Changes in Four Fields of the Lighting Industry

Release time：2022-09-12 16:33:25

In 2022, the economies of most developing countries in East Asia and the Pacific will rebound from the impact of the epidemic.

However, the World Bank also said that in the future, the economic performance of the region may be affected by factors such 

as slowing global demand, rising debt and relying on short-term economic measures to ease the rise in food and fuel prices.

Specifically, the above-mentioned semi annual report predicts that in 2022, the economic growth of developing countries in East 

Asia and the Pacific excluding China will increase from 2.6% in 2021 to 5.3%.

"The economies of most countries in East Asia and the Pacific are recovering," said Filo, vice president of the World Bank for 

East Asia and the Pacific

The World Bank said that most of the economic growth in East Asia and the Pacific region was driven by domestic demand and 

export growth.

At the same time, the semi annual report shows that there are three factors that may threaten the realization of inclusive and 

sustainable growth in the region in the future, that is, the global economic slowdown may curb the demand for manufacturing 

products and bulk commodity exports in the region; The rise in inflation in other countries triggered interest rate hikes, which 

led to capital outflows, exchange rate depreciation, increased debt servicing burden and some measures to control inflation 

and debt in the countries of the region, which have exacerbated the distortions in the food, fuel and financial markets.

The semi annual report also shows that countries in the region are making efforts to reduce the impact of rising food and 

energy prices on households and enterprises. Although the current policy measures can provide much-needed relief, they 

have also increased the existing policy burden.

The World Bank suggests that it is preferable to provide support through income transfer payments rather than price 

regulation, as this can target the most needy. In terms of food, the government should shift its focus from rice centered 

food security to nutritional security, reduce rice related subsidies and trade barriers, and encourage diversified production 

of nutritious food. In terms of fuel, policy measures should help meet the urgent need for affordable energy at the moment 

without sacrificing energy security and sustainability. Encouraging renewable energy investment can reduce the impact of 

fossil energy price fluctuations and help fulfill emission reduction commitments. In terms of finance, the government needs 

to strengthen prudential measures and improve the ability of the financial sector to allocate resources effectively. 

Transparent and timely reporting on the quality of bank assets will help to assess and resolve the credit mismatch risk 

caused by support measures during the epidemic (such as regulatory tolerance and suspension of repayment).

The World Bank also proposed that the recent price and interest rate shocks may reduce the regional economic growth 

by 0.4 percentage points; If more efficient intervention and deeper reform are implemented, it may even offset the 

impact of recent shocks on growth.