BANGKOK (IDN): The major United Nations agency overseeing development in the Asia-Pacific region has called for a major rethink in the development paradigm for the region.

In “Economic and Social Survey” of the region presented to its 72nd sessions here from May 17 – 19, the Economic and Social Commission for Asia and the Pacific (ESCAP) says that while the center of global economic gravity continues to move eastwards, the time has come for the Asia-Pacific region to adopt a development model that relies more on domestic and regional demand.

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