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Global financial crisis, the consequence of an unsustainable growth pattern that has been emerging since a decade, impacts the economies in all the regions, irrespective of their degree of globalization and deft economic management. Both developed and developing countries have different threats from the crisis, and devised appropriate measures to contain it. South Asia weathered the crisis much better than most of the regions in the world. The region is ...
South Asia is one of the very few regions in the world with geographical contiguity as well as linguistic and cultural homogeneity. The region, inhabited by more than one-fifth of global population, is afflicted by a number of social, political and economic problems compounded by political mistrust and suspicion. The South Asian states are plagued by inter-state conflicts over boundaries. In addition, there is a sharp increase in unemployment, poverty, epidemics, ...
South Asian region is disastrous prone, yet the magnitude of Official Development Assistance or private flows or Foreign Direct Investment made available has been quite meagre considering the need. The external shocks in the 1970s and the structural adjustment policies in the 1980s further worsened the situation making liberalisation inevitable for the SAARC countries to respond to the challenges posed by the international economic environment appropriately. The ...
WTO is seen largely as a symbol of North-South conflict, due to divergent perceptions of the developed and developing countries on the Multilateral Trading System. This North-South divide is reflected in their Ministerial Negotiations where the rich countries try to impinge their ultimate authority over the global economy leaving thus limited options to the poor countries to defend their economic space, notwithstanding the fact that the developing countries ...
The Bay of Bengal Initiative for Multi-Sectoral Techno Economic Cooperation (BIMSTEC) is a sub regional grouping. It is positively perceived as bridge between the SAARC and the ASEAN regional groupings, as it embraces five SAARC members, viz., Bangladesh, India, Sri Lanka, Nepal and Bhutan and two ASEAN members, Myanmar and Thailand, around the Bay of Bangal and the Eastern Coast of the Indian Ocean. Formed in 1997 with the main objective of promoting ...