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The UN-ESCAP (and its predecessor UN-ECAFE) has been ahead of the curve in shaping the ideas on economic and social development in the Asia-Pacific region through its annual economic and social Survey. This publication aims to provide a first-hand account of what was happening during a period of unprecedented economic and social transformation. It contains a succinct narration of the countries'reconstruction efforts and needs after the Second World War as well as their development aspirations and endeavours providing an analytical narrative of the transformation of the region infested with pervasive hunger and deprivation to the Asian miracle that lifted billions of human beings out of extreme poverty. It tells how the region from a periphery became the centre of gravity for the world economy. In short, it is an analytical story of the unfolding of the Asian drama.

The Asia-Pacific region has made considerable progress towards the Millennium Development Goals (MDGs), but the region is still off track on many crucial MDG indicators. This publication considers the challenges the region faces for achieving the Goals and shows that they are still within reach, given sufficient determination and financial resources. It starts by estimating the financial needs of the region for closing the gaps in achievement of the MDG targets and identifies potential sources for those funds. It also shows how Asia and the Pacific can take the lead in developing a more inclusive and development friendly financial system. Finally, the report discusses challenges -including technology and finance- for promoting growth that is inclusive and sustainable -green growth- that will help the region achieve the MDGs.