This is equally important for endowing the young and expanding labour force in most of Asian countries with a modern and growing capital stock. In this respect, Asia (with the exception of China) has generally more favourable demographics than Europe.
A clear commitment to implementing the reforms and the explanation of their benefits will help to reduce such uncertainties and thereby make a considerable contribution to improving the economic outlook for the euro area. We are now at your disposal for questions. 2  BIS Review 31/2005