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The Asia-Pacific Gender-Parity Imperative

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14.06.2018

SINGAPORE/MUMBAI – Gender equality offers a sizeable economic opportunity for any country. A government that hopes to achieve strong growth without tapping into women’s full potential is essentially fighting with one hand tied behind its back.

Jun 13, 2018 Joseph E. Stiglitz worries that the next currency crisis will meet the same rigid and feckless German response as the last.

Jun 11, 2018 Elizabeth Drew thinks President Trump's recent assertions of quasi-monarchical power reflect his growing desperation.

Jun 6, 2018 Minxin Pei worries that the US lacks the leadership needed to manage a geopolitical rivalry.

In fact, new research from the McKinsey Global Institute (MGI) finds that Asia-Pacific economies could boost their collective GDP by $4.5 trillion per year by 2025, just by accelerating progress toward gender equality. That would be the equivalent of adding an economy the combined size of Germany and Austria every year. The opportunity is especially large for India, where GDP would grow by as much as 18%.

Gender equality contributes to growth in three ways. According to MGI, 58% of the gains in the Asia-Pacific region would come from raising the female-to-male ratio of labor-force participation, 17% from increasing women’s work hours, and the remaining 25% from having more women working in higher-productivity sectors.

But equality at work goes hand in hand with gender equality in society. While there have been notable advances in girls’ education and health, women across the region remain subject........

© Project Syndicate