Why Asia’s long-term prospects remain bright
Thus, in many parts of Asia today, we see neighboring countries undertaking joint projects that will enhance connectivity among themselves, thus expanding and integrating their markets; facilitating the flow of goods, people, and capital across borders; promoting economic efficiency and productivity; and thereby improving their overall competitiveness. Thus, in the abovementioned regional cooperation groupings, the countries involved are building cross-border roads, bridges and railways, power interconnection lines and telecommunications networks that connect them to one another and enable them to exploit synergies among themselves.
For instance the Asean countries are gradually interconnecting their road systems to form the Asean Highway. Moreover, neighboring countries are also forming agreements to facilitate trade and cross-border travel through such means as customs facilitation standardization of transport rules, and waiver of visa requirements or adoption of single-visa schemes.
The third factor that ensures the sustainability of Asia’s upward trajectory is that the continent is generating within itself the financial and other resources that support growth.
Frugality and an outward orientation have always
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