The annual Asian Development Outlook provides a comprehensive analysis of economic performance for the past year and offers forecasts for the next 2 years for the 45 Asian economies that make up developing Asia. This edition sees developing Asia emerging from the recent crisis and posting a strong recovery in the next 2 years, as a moderate global recovery supports a modest revival in global trade. Investment is expected to remain strong and private consumption is anticipated to improve. Inflation will pick up, but at manageable levels. Beyond the crisis, developing Asia faces the challenge of adjusting its monetary, exchange rate, and fiscal policies to foster macroeconomic stability and sustained growth within the broader direction of a return to prudence and discipline.