how does pakistan and China biletral trade contribute to a sound Asian economy
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Held hostage by the legacy of Partition, the South Asian region continues to be one of the least integrated in the world.
Barriers restricting the flow of people, capital and goods are common across the subcontinent, stunting economic growth, preventing the emergence of globally competitive supply chains and limiting people-to-people contact that can help develop constituencies for peace, especially between India and Pakistan.
Trade data for South Asia highlights the impact of these barriers: while intra-regional trade accounts for about one per cent of South Asia’s GDP, it accounts for almost 11pc of regional GDP in East Asia and the Pacific, according to the World Bank.
This need not be the case, and South Asia’s economic and geopolitical future would be far more secure if it were to become more integrated.
Editorial: Trade with India
According to analysis conducted by the World Bank, the region’s trade potential currently hovers around $67 billion, almost three times the current trade of about $23 billion.
China’s annual GDP growth is expected to slow down to around 6pc compared to around 7pc in South Asia by 2020, which means the region will become a driver of global growth, and its trade potential will only increase in the coming years
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