Blog Surf: Growth poles
A new chapter of Asia’s growth story is being written either side of the Ganges Delta. South Asia is rising. The People’s Republic of China (PRC) is striving to reach a new level. Along the Mekong, startling growth is reversing decades of stagnation.
There’s just one element missing that could elevate this growth curve to new heights, not just for Asia but globally.
If India and other South Asian nations—collectively forecast to grow by 7.3% in 2017—can integrate their dynamic economies into the rest of Asia, they could lift the region to a higher plane of social and economic development – just as Japan and China led Asia into the modern economic era.
An economic engine of this size could potentially erase extreme poverty in the region. Removing obstacles to trade and investment between South Asia, Southeast Asia and other parts of Asia is the key to making this happen. If South Asia and Southeast Asia each cut non-tariff barriers by 50% .