While the significant economic growth in Asia and the Pacific generally has positive impacts to national industries, this also brings huge economic and social deficits that pose a great threat to the welfare of laborers and overall sustainability of regional economic development. ADB's new Strategy 2030 helps address some of these issues in their long-term corporate strategy geared towards a more prosperous, inclusive, resilient, and sustainable APAC.
This article aims to further enrich ADB's Strategy 2030 with commentary and proposals for providing more in-depth positive changes in rising inequality and technological development, productivity-versus-wage deficits, and social protection as outcomes of labor market aspects.