This manifesto calls for countries with surpluses to make their own structural reforms to boost consumption.
This explains why China's government has recently taken bolder action than others to boost consumption.
ECONOMIST: Can Asians replace Americans as a driver of global growth?
The hot interest in Thailand's retail sector, growing amid a burgeoning middle class and government policies to boost consumption, isn't surprising.
Another way to boost consumption is to make it easier to borrow.
ECONOMIST: Can Asians replace Americans as a driver of global growth?
While corporate saving has risen, household saving in many places has fallen, thanks both to demographics and to government efforts to boost consumption.
ECONOMIST: Why oil exporters and East Asians are reluctant to spend
Countries with external surpluses need to boost consumption and domestic demand.
But it would be a big mistake if Asia's recovery led its politicians to conclude that there was no need to change their exchange-rate policies or adopt structural reforms to boost consumption.
The quality of employment also matters and the current job recovery has not done enough to boost discretionary consumption to anywhere near where it should be, following the depths of the recent Great Recession.
FORBES: Job Anxiety: "There But For Fortune May Go You Or I"
Since then, the Chinese government has supported higher wages in part to address labor unrest, but also as way to boost domestic consumption and reduce reliance on exports to expand the economy.
His entire economic agenda is one big and desperate attempt to boost American consumption.
He is not a proponent of harrying Berlin to reflate to boost domestic consumption.
According to the new government, deflation is the biggest hurdle to Japan's efforts to boost domestic consumption.
The Bank of Japan has also raised its inflation target to 2% in a further attempt to boost domestic consumption.
Meanwhile, policymakers have found it tough to boost domestic consumption in South Korea, which has also affected growth.
They have also assumed that rising asset prices will drive powerful "wealth effects, " encouraging households to boost their consumption.
Chinese officials say they plan to boost domestic consumption as a share of GDP, and Woo is a believer.
In an attempt to offset the decline in foreign sales, India has been trying to boost its domestic consumption to sustain growth.
Although the firm had pinned its hopes on international growth, it was China's effort to boost domestic consumption through a massive fiscal stimulus that prevented a worse outcome.
Mr Wood argues that China is doing more to boost domestic consumption (for example, through incentives to stimulate purchases of cars and consumer durables, and increased health-care spending) than America is doing to boost its saving.
Even as Chuang looks to boost Southeast Asian consumption, he has smartly found a way for his small company to play in the much bigger global world of chocolate.
Moreover, the moves to boost exports have helped depress consumption, which is in fact beginning to slow.
Because this is true, the only way to expand consumption is to boost production.
FORBES: Monetarism and Keynesianism: Identical Sides of the Same Adolescent Coin
But even there an array of reforms, from a stronger currency to an overhaul of subsidies, is needed to boost labour income and encourage consumption.
That is forcing businesses and households to boost savings at the expense of consumption.
The fund also urged China to reduce its reliance on investment to boost growth and instead focus on domestic consumption in the country.
That means changing a mindset that equates economic health with bulging trade surpluses, and also ushering in a plethora of microeconomic reforms to boost Asian workers' incomes and encourage consumption.
But he is urging them to liberalise their own service industries, which should boost consumption.
There is thus reason to expect that the iPhone 5 may well boost data consumption levels by more than 100%.
"We believe that the government will react to this weaker-than-expected GDP growth rate by introducing more policy measures to boost lending, speed up project starts, encourage consumption, and support property sales, " Jun Ma, Deutsche Bank greater China chief economist said.
应用推荐