ASIAN DEVELOPMENT BANK APRIL 2018 ASIAN DEVELOPMENT OUTLOOK2018 HOW TECHNOLOGY AFFECTS JOBS Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)2018 Asian Development Bank 6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines Tel +63 2 632 4444; Fax +63 2 636 2444 adb Some rights reserved. Published in 2018.ISBN 978-92-9261-120-0 (print), 978-92-9261-121-7 (electronic) ISSN 0117-0481 (print), 1996-725X (electronic) Publication Stock No. FLS189310-3 dx.doi/10.22617/FLS189310-3 The views expressed in this publication are those of the authors and do not necessarily refect the views and policiesofthe Asian Development Bank (ADB) or its Board of Governors or the governments they represent.ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for anyconsequence of their use. The mention of specifc companies or products of manufacturers does not imply that theyare endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned. By making any designation of or reference to a particular territory or geographic area, or by using the term “country”inthis document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) https://creativecommons/licenses/by/3.0/igo/. By using the content of this publication, you agree to be boundbytheterms of this license. For attribution, translations, adaptations, and permissions, please read the provisionsandterms of use at adb/terms-use#openaccess. This CC license does not apply to non-ADB copyright materials in this publication. If the material is attributedtoanother source, please contact the copyright owner or publisher of that source for permission to reproduce it. ADB cannot be held liable for any claims that arise as a result of your use of the material. Please contact pubsmarketing@adb if you have questions or comments with respect to content, or if you wishtoobtain copyright permission for your intended use that does not fall within these terms, or for permission to usetheADB logo. Notes:In this publication, “$” refers to US dollars.ADB recognizes “China” as the People’s Republic of China and “Vietnam” as Viet Nam.Corrigenda to ADB publications may be found at adb/publications/corrigenda. Cover artwork by Ana Verayo/2018.Printed on recycled paper Contents Foreword Acknowledgments Definitions Abbreviations ADO 2018 —Highlights Part 1Turning strength into opportunity Strong tailwinds but tricky crosscurrents Private debt and economic growth Annex:Sustaining growth momentum Part 2How technology affects jobs Rising concern over technology displacing jobs Reasons for optimism on job prospects Some worker concerns remain The role of government in harnessing technology for workers Part 3 Economic trends and prospects in developing Asia Central Asia Armenia Azerbaijan Georgia Kazakhstan Kyrgyz Republic Tajikistan Turkmenistan Uzbekistan East Asia Hong Kong, China Mongolia People’s Republic of China Republic of Korea Taipei,China South Asia Afghanistan Bangladesh Bhutan 。。。。。。