•  There continue to be huge demands for funding of both physical and social infrastructure in growing Asian economies. •  Some countries have constrained fiscal situations. Our key advantage in Asia is that we know the future: we can see it in the emerging demographic challenges of the developed countries.
What then are the lessons for us: •  Do active fiscal consolidation before these new fiscal challenges emerge. •  Pay serious attention to policy design for both health care and pension/social security systems. As for as possible, reduce the weight of defined benefit pension systems and move towards fully funded systems, or a judicious fiscally responsible combination of the two.