Asia needs new growth model – BoJ’s Kuroda
Region can no longer serve as “workshop of the world”, says BoJ governor
Asia needs to move to a new growth model, as growth built on the region's central role in global value chains is likely to prove unsustainable, Bank of Japan (BoJ) governor Haruhiko Kuroda said today (February 14).
Asia – and particularly China – had achieved great success as "the workshop of the world", the governor told a conference in Niigata. But a "pause" in global value chain growth and the slowdown of trade liberalisation threatened this model, he continued.
"If the volume of global trade
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