The crisis response and recovery policies of Asian governments have been shaped by the lessons learned from the Asian financial crisis of the late 1990s. An important lesson emerging from the recent crisis is that the policy goal should not be to return to a “normal” pre-crisis situation but to address fundamental and not just short-term urgencies, and seize the opportunity to rebalance towards a new development trajectory that is job-rich, just, sustainable and inclusive. The main components of “rebalancing” have been identified as transition from public to private sector-led growth, domestic-led growth of consumption and investments in place of export-led growth, shifts to green jobs and green enterprises and deeper Asian regional integration. The theme of this reports is that such rebalancing must, as a matter of both “smart economics” and social justice, also promote gender equality in the labour market. To be successful, rebalancing policies must mainstream gender equality considerations.
