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Asian economies are hampered by

Congestion has gotten so bad as the economy grew, he said, that a kilometer 6-mile trip that once took 30 minutes can stretch to two hours. The outpouring of support for a Chinese-led bank to finance infrastructure highlights a gap in Asia's success story: From power-starved India to Thailand's overburdened railways, developing economies face a shortage of basic facilities so severe that it threatens to hold back growth and living standards. Infrastructure Manila and other cities are choked with construction sites for office and apartment towers. But spending on roads, railways and other unglamorous but essential infrastructure collapsed after the financial crisis and has yet to recover. On top of its planned infrastructure bank, which 57 countries want to join, the government of President Xi Jinping has launched initiatives to improve road, rail and sea links.

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The phenomenal growth of China and India Of the many successes in recent times, two stand out: China and India. The two countries are by their sheer size economic giants and while they grow at the rates observed in recent years decades in the case of China it is obvious that their transformation will have profound effects, not just internally but for the rest of the world. Such effects, already in evidence, are a combination of new market opportunities arising from enhanced purchasing power and greater competitiveness of these mega-economies as producers of selected products.

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Explore the latest strategic trends, research and analysis Automation and malnutrition could create a global underclass and provoke unrest on a par with the Arab Spring. Some countries, however, are getting it right. It does this by breaking down human capital into a series of indicators on health and education.

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He further said that economic growth will not come to South Asia from America or Europe and it will need political will and determination of SAARC countries, which will enable growth to take place and also eliminate poverty. He pointed out that most of travel and tourism across different regions of the world is intra-regional in character. A file photo of Amitabh Kant.

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Thailand is looking at growth of 2. The party currently in power is the military-backed USDP. He said corruption was the biggest thing putting off foreign investors in ASEAN, citing Indonesia as an interesting example.

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