Developing Asia is currently leading the world’s economic rebound from the global economic and financial crisis. The region has been hailed as the quickest to emerge, with the recovery marking a clear V-shape while in other parts of the world the final shape still remains uncertain. This strong recovery is largely due to China’s rapid return to high growth rates, from its lowest point at 6.2% in the first quarter of 2009 to more than 11% in the first half of 2010. China’s huge stimulus package and its growing demand for imports provided a significant boost to regional exporters from neighbouring economies. Economic growth also regained strong momentum in the other large emerging economies of the region. If economic recovery is well on its way, lagging employment growth and widespread underemployment and poverty put strains on labour markets and pose significant social challenges. The least developed economies of the region remain particularly vulnerable to a volatile international economic environment.