Noted economist Jeffrey Sachs spoke to an Asian audience this week about the need for increased public spending in the region on such sectors as energy, pollution control, roads, public housing, ports, health and sustainable development. As in other areas, the emphasis is on spending the way out of the financial crisis, as long as the investments can be made in a measured and responsible way. Sachs points to needed investment by Japan as the engine for development in the region.
“This is still region of the world with the fastest growing population, with the most dramatic need for pollution control, for sustainable development, for accommodating migration of hundreds in suburban areas,” Sachs said.
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