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South-east Asia’s digital economy will boom

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SOUTH-EAST ASIA

The pandemic has permanently shifted consumers and businesses online across the world

COVID connectivity boost leaves social gaps intact

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INTERNATIONAL

COVID-19 lockdowns incentivised 783 million new users to come online during 2020-21

Crypto crash boosts central bank digital currencies

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INT

The crash of stablecoin TerraUSD is the latest casualty of the ongoing upheaval in the cryptocurrency ecosystem

Policy and technology are key to full financial access

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INT

Nearly 70% of all over-15s are ‘banked’; at least 76% of them have also made a digital transaction

Inflation slows growth in global mobile connectivity

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INT

Mobile internet connectivity continues to rise globally but inflation has slowed adoption rates

This downturn will be more job-rich than past slumps

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INT

Employment recovered far faster from the pandemic global recession than past crises, and remains historically strong

Services trade is crucial to emerging growth prospects

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INT

Services trade receives far less focus than goods trade but exports of services outpaced goods shipments from 2000-16

Prospects for emerging economies in 2023

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PROSPECTS 2023

Emerging market and developing economies (EMDEs) face a cocktail of crises and global tensions will curb remedial action

Stimulating skills is key to emerging markets growth

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INT

Human capital will become as key to low-to-mid-income countries as it is for high-income ones

Investing in people is key to a sustainable recovery

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INT

The pandemic has damaged human and social capital; both are key to economic prospects but under-recorded in GDP accounts