Saturday, July 31, 2010

GDP growth in South Asia

World map showing GDP real growth rates for 20...
Image via Wikipedia
The World Bank statistics reveal that Pakistan has lagged behind India and Bangladesh in economic growth since early nineties, which is about the same time that India liberated its markets and embraced freer trade.
Nineties were the decade when India and Bangladesh picked up pace and started to strengthen their economic development based on the innovation and technical prowess of the graduates from their engineering and business schools. India picked up a faster pace of economic development in the early nineties and Bangladesh by mid nineties, leaving Pakistan trailing behind in economic growth. 
Pakistan, on the other hand, spent the nineties in a battle for power between the military, politicians, and the bureaucracy. It resulted in a lost decade. No real economic or social development transpired in Pakistan. Furthermore, by creating and unleashing the Taliban, Pakistan also sealed the fate for Afghanistan, which has suffered much more than Pakistan in the past 15 years.

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