Date: 16 November, 2022
The State of the Region is an annual report of the Pacific Economic Cooperation Council (PECC), for which the Foundation serves as the secretariat in Chile. It presents and systematizes the views of Asia Pacific opinion leaders on major developments affecting the region, including the macroeconomic situation and Asia Pacific Economic Cooperation (APEC) priorities. PECC respondents are very senior individuals from academia, business, government, civil society and the media.
This year’s survey found very different results from last year’s in terms of perceptions of global growth, with the prevalence of a pessimistic view rising from 17% to 60%. Among the risks to growth, inflation is the main concern, and potential new waves of the pandemic continue to worry. Growth forecasts have been downgraded from 5.1% in October 2021 to 2.6% in October 2022. Climate change is perceived as another key risk to growth.
