Asian Development Bank


The Dubai Metro system is the first urban train network on the Arabian Peninsula. Russia has oil reserves in Siberia, and massive natural gas reserves throughout the Arctic. Russia is the world’s largest producer of natural gas, and the largest supplier of natural gas to Europe. Russia has not aggressively drilled in the Arctic Ocean, but engineers say the area holds millions of barrels of oil and gas reserves.

South Asia: Less Vulnerable To Global Financial Turmoil

Over the past few years, South Asia has sustained a period of robust growth that has lifted up many living in poverty, and made notable strides in health and education. In fact, the World Bankreports that between 2013 and 2016, growth in South Asian countries increased from 6.2% to 7.5% while growth rates of otherdeveloping nationsremained flat or even turned negative. In the coming years, the World Bank expects countries in South Asia to continue this growth trajectory, estimated at 6.3 percent in 2020 and 6.7 percent in 2021. These countries did not have any official channels for seeking mutual understanding with China, including the establishment of diplomatic relations. While fearing that guerrilla activities might intensify as a result of the Vietnam cease-fire, these countries were still unable to find effective means to cope with them. Meanwhile, the Soviet Union expressed its interest in the Southeast Asian countries by flying a trial balloon after the Brezhnev speech of March 1972 on his idea of Asian collective security.

Extensive Resources On Nuclear Policy, Biological Threats, Radiological Security, Cyber Threats And More

The focus of the meeting was on Energy, Environment, Climate Change and Sustainable Development. The potential increase in the use of nuclear energy was discussed in this regard. The members drafted an ASEAN Leaders’ Declaration on Environmental Sustainability to be signed at the 13th ASEAN Summit. In the days prior to the meeting, Ministers discussed the creation of an agency to monitor compliance with the SEANWFZ. The ministers also discussed their intentions to strengthen the regions relationship with the IAEA and capacity to implement safeguards. On 24 July, the Democratic People’s Republic of Korea acceded to the Treaty of Amity and Cooperation in Southeast Asia.

Southeast Asian Studies: Society

In recent years, Bangladesh has emerged as a leading manufacturer of textile products and become a frontrunner in South Asia. In fact, in 2019, Bangladesh had a growth rate of 8%, compared to India's of 5.3%. As the trade deficit decreased, the growth in remittances grew strongly by 9.6% in 2019 to reach a record $16.4 billion. The forecast of an increase in domestic demand, hike in public sector wages, and increased construction activity will bolster its economy in the near term, as well. While many of these economies have a considerable share of revenues from international exports, domestic demand is expected to be the primary driver for growth in the near future. Domestic markets make these economies less prone to external vulnerabilities and global financial turmoil.

The issue of south–north migration representing a ‘brain drain’ of skill and talent needed for development in the home countries is a longstanding one in the region. In several origin countries, however, the occupational profile of migrant workers is largely an unskilled and semi-skilled one so that movement out of a country like Indonesia certainly cannot be characterized as a brain drain. On the other hand, much of the movement out of countries like India, Pakistan, Philippines, and Singapore is of skilled and highly educated groups. In those cases, however, the movement is not necessarily a net economic loss to the nation. Economic studies have shown that in some cases individuals have a net positive economic impact if they go overseas and remit money back to their home country rather than remain behind.

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