Region on the Rise

• Author: Camilla Lund Andersen
• Position: Editor-in-Chief
• Pages: 2-2

2 FINANCE & DEVELOPMENT | September 2018

Region

on the Rise

SREYNITH HAK, 25, MOVED to Phnom Penh eight years ago to pursue a bach-

elor’s degree in media management. Cambodia’s capital of‌fered her much

more opportunity than the small town where her parents and siblings still

live. “I can see more of the world; I can do what I want,” she says.

Together with millions of young people like her, Hak is shaping the future

of Southeast Asia, one of the world’s fastest-growing regions and home to 643

million

people. From the city state of Singapore, to the vast and sprawling

archipelago

of Indonesia, the ten countries that make up the Association

of Southeast Asian Nations form a vibrant and diverse community.

Southeast Asia ha s lived through devastating f‌ina ncial crises, armed con-

f‌licts, and untold natura l disasters. And yet it has managed to leverage the

possibilities created by globaliz ation to build competitive economies that play

a vital role in the global supply chain, li fting millions of people out of poverty.

As the IMF prepares to hold its annua l membership meeting in Indonesia,

we take a deep dive into the region. We look at the multitude of challenges

facing ASEA N countries, including the very real threat posed by climate

change, the rapid agi ng of society, human traf‌f‌icking, and geopolitical

shifts. A nd we discuss t he exhila rating opportunities presented by digital

technology, the integration of women into the labor force, and closer col-

laboration within the region.

“With the right policies, Southeast A sia can rely on the creativity, resil-

ience, and dynamism of its people to meet those c hallenges,” writes Chang

Yong Rhee, director of the IMF’s Asia and Pacif‌ic Department.

For young people like Hak, the future is bright. But she knows she

will need to persevere to be succ essful. “I have my own timeline, my own

clock,” she says. “I want to prove to people that I can do it—maybe even

better than some guy.”

CAMILLA LUND ANDERSEN, Editor-in-Chief

EDITOR'S LETTER

ON THE COVER

As the IMF and World Bank gear up for their Annual Meetings this year in Indonesia,

we present a special issue focusing on the countries of Southeast Asia. Ilustrator

Michael Waraksa's September 2018 F&D cover offers a fanciful rendering of Indonesia

and lands beyond.

Raj Chetty

prof‌iled P.36

Boiling point P.22

Is there a remittance

trap? P.44

SEPTEMBER 2018

Southeast Asia

Region on the Rise

FINANCE & DEVELOPMENT

A Quarterly Publication of the

International Monetary Fund

EDITOR-IN-CHIEF:

Camilla Lund Andersen

MANAGING EDITOR:

Maureen Burke

SENIOR EDITOR:

Chris Wellisz

ASSISTANT EDITORS:

Marie Boursiquot

Bruce Edwards

DIGITAL EDITOR:

Rahim Kanani

ONLINE EDITOR:

Lijun Li

PRODUCTION MANAGER:

Niccole Braynen-Kimani

COPY EDITOR:

Lucy Morales

ADVISORS TO THE EDITOR:

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