The purpose of this book is to describe the challenges facing Asian economies in the post-global financial crisis environment and to identify structural issues and policies that can help guide Asian policymakers to expand the growth potential of domestic and regional demand in coming years, and thereby create a basis for balanced, sustainable, and inclusive long-term growth. These issues and policies span a variety of dimensions, including macroeconomic policy (monetary, fiscal, and foreign currency management), real sector issues (trade and industrial structure), infrastructure development, labor market and social policy, financial sector reform and regulation, and regional cooperation and architecture. It should be emphasized that the notion of balanced and sustainable growth includes environmental sustainability. Adjustments will be required both on the demand side and supply side of the economy. Key recommendations to achieve these goals include measures to: deepen social protection to support social resilience; increase infrastructure investment to create a “seamless Asia”; enhance productivity in the services sector; establish a regionwide free trade agreement to encourage intraregional trade in goods and services and investment through economies of scale and dynamic efficiency of a larger market; promote a shift to a low-carbon society and support green growth; and deepen and integrate the financial markets to facilitate the recycling of Asia’s high savings for investment within the region. The study benefited from background papers presented in 17 seminars and conferences organized by the Asian Development Bank Institute (ADBI) on the general topic of the impact and implications of the global financial crisis for Asia. Two workshops were held in Tokyo in 2009 and 2010 to review draft chapters of the book. This ADB and ADBI joint study was led by ADBI and conducted in collaboration with ADB under our overall guidance.