This issue of Global Perspectives focuses on the long term and asks what are the opportunities for growth in Asia and can the extraordinary improvement of living standards continue? After the current economic crisis subsides, the outlook for acceleration of growth in Asia is favorable. This means that the possibilities for profitable investments in Asia will be good after the current storm. But, as with any prediction, some key assumptions are made. A crucial element of long-term recovery is the development of policies and institutions that facilitate the flow of resources from lower to higher productivity activities. Although there is evidence that many Asian economies are moving in this direction, the pace of progress varies.