"On India's iron ore rich eastern coast, Paradip port is a vital link to global markets. Every month, millions of tons of iron ore are exported from here -- bringing in much-needed cash and turning the region into a vibrant commercial hub. The question is whether in one of India's poorest regions, some people are being left behind. With nearly 95% of India's foreign trade being routed through the seas, ports like this one are increasing in importance. But despite measures to expand, the port is crushed under the heavy traffic.

By starting to improve its infrastructure, the eastern state of Orissa has managed to put its economy on the fast track. The state has high hopes for the future. But the economic advancement isn't judged only by the number of new roads and ports -- it also depends on the quality of life for all its citizens. Unless that growth is inclusive, many fear that they will get left behind. While companies get cheap land and electricity, many people feel ignored and excluded from the region's economic boom."

"Asian nations recently reached an initial agreement on the establishment of a foreign-exchange reserve pool by year-end to revive investor confidence as economies around the region falter amid the worst global economic recession since World War II. The establishment of the fund is expected to improve the capability of Asian countries to tackle the ongoing crisis and contribute noticeably to financial stability in the region. With such a blood pool-alike reserve fund in the right place, timely financial assistance can be offered to any crisis-stricken economy and help it to survive a breakdown.

The regional reserve fund is also expected to accelerate the Asian countries' movement towards financial integration and promotion of a mutually complementary and win-win financial climate. Since 2000, there has been sluggish progress made in promoting Asian financial cooperation, especially in the construction of the region's currency swap mechanism. The setting up of the contingency reserve fund can serve as one evidence of the essential advance Asian members have made towards promoting the much-anticipated regional financial cooperation."

"China's bout of deflation persisted in April, as consumer prices fell 1.5 percent from elevated levels a year earlier, but analysts said they expect prices to start heading upward later in the year. The central bank, meanwhile, reported Monday that new bank lending in April was less than a third that of the month before, as lenders slowed the flow of credit aimed at stimulating flagging growth.

Deflation is expected to persist in China for several more months due to excess inventory in many industries amid the global economic downturn. Sharp declines in crude oil prices and costs for other commodities will ensure that. But signs of economic recovery in China suggest a reduced risk for a prolonged bout of lower prices that could drag growth lower if consumers put off purchases in expectation of lower prices, forcing companies to cut wages and investment, economists say."

"Over the past few decades, the emerging economies have been furiously developing their labor forces in order to participate competitively in the world economy. Their efforts have paid off. These emerging economies have done a magnificent job of aiming their strategic advantage (low labor cost) directly at the industries and labor categories in the advanced world which offer the greatest export earnings potential. Considering the growing skill level of these workers, the cost of labor from LDCs is a bargain.

As Western societies struggle to adapt, what of the LDCs who are gaining the jobs? Won't their consumption increase to offset the demand drop in advanced economies? Economists, almost to a man, pin their hopes on increasing demand from LDCs. A factor limiting India's consumption is the infrastructure. In many instances, the streets are relics of the distant past, with few signals, dirt patches, potholes and a wide array of obstacles. Another limiting factor is energy. India has nowhere near the power generation capacity required for its vast population. India simply can't consume anywhere near the pace of an advanced economy; the infrastructure can't deliver the necessary inputs."

"The present per capita income in Bangladesh at $690. This is quite a leap from the previous fiscal year's $608 and helps Bangladesh get closer to the bottom of the middle-income bracket: $850 per capita, going by the World Bank standard. Although the elevation to middle-income group is nuanced in that Maldives with a per capita income of $2000 still remains an LDC, there is nonetheless a reason for a country as populous and struggling as Bangladesh to be happy over the per capita increase which corresponds to the GDP growth rate at around 6 percent.

There is a flip-side though, that tends to dilute the sense of achievement. Going by the trends in recent years, income distribution has been asymmetrical resulting in yawning gaps between the rich and the poor. The wealth of the top ten percent of the population has increased manifold while the incomes at the bottom level have sharply dwindled over the years."

"Pakistan is hosting third Regional Economic Cooperation Conference on Afghanistan on May 13 and 14 in Islamabad which will make efforts to achieve a tangible outcome for enhancing regional cooperation in five major areas. These areas include mining, energy and infrastructure, health, labor movement and human resource development, and overland trade and transit between countries and regions. Pakistan and Afghanistan will also hold bilateral talks to finalize a new agreement on Afghan Transit Trade (ATT), which has remained a stumbling block between the two sides for many years.

Broader expected outcomes of the conference include establishing regional cooperation for economic growth and poverty reduction, identifying more avenues for achievement of goals and targets through mutual cooperation, establishing cooperation through institutional arrangements for ensuring peace, security and development in the region and seeking international community's financial and technical assistance for the reconstruction process. Bilateral trade between Pakistan and Afghanistan is $1.2 billion per annum."

"China is hoping to complete the reconstruction of areas hit by last year's earthquake one year ahead of schedule. Officials now aim to get the work done by September next year, part of Beijing's efforts to show it is doing all it can to help the survivors of the magnitude-8 earthquake. Officials have now released an array of statistics that detail the overall progress so far made in re-building the affected provinces of Sichuan, Gansu and Shaanxi.

They said more than 21,000 post-earthquake recovery and reconstruction projects had already started. Total spending is expected to be 1 trillion yuan ($146.5 billion). Nearly 70% of school pupils have moved into new, permanent buildings, and in rural areas about 80% of new homes have been completed. And the government said this fast-paced redevelopment will not come at the cost of poor building standards."

"President Lee Myung-bak and his Uzbek counterpart Islam Karimov agreed yesterday to significantly bolster bilateral energy ties and economic cooperation, noting their strategic partnership was mutually beneficial. Bilateral trade increased 80 percent last year to top $1 billion. Lee proposed building a new 'Silk Road' connecting his country and Uzbekistan to place the two nations at the center of Asian economies.

Korea is Uzbekistan's largest Asian investor with $1.19 billion invested per year. Korea is also participating in Uzbek projects to upgrade Navoiy Airport into a regional logistics hub and build industrial infrastructure in its surrounding area."

"Trade volume between Cambodia and Thailand dropped by more than a quarter in the first two months of this year. A Thai official said that trade was likely to continue to fall, predicting a 30 percent decline for the year. The drop is mainly due to less demand in building materials, consumer products and petroleum.

Cambodian exports to Thailand amounted to $7.6 million during January and February, primarily in agricultural products, secondhand garments, fish and recyclable metal, while Thailand's exports to Cambodia -- which include petroleum, consumer products, building materials and cosmetics - totaled more than $232 million."

"The International Monetary Fund on Monday said that Pakistan has room to raise its fiscal deficit to protect crucial spending as it makes progress in coping with the global economic crisis. The IMF reached 'preliminary understandings' with Pakistan to increase the 2009-2010 deficit target up to 4.6 percent of gross domestic product, up from the original target of 3.4 percent of GDP. This relaxation would provide fiscal space to absorb additional donor support, boost growth, and increase social, development, and security spending, including for internally displaced persons.

At an aid meeting in Tokyo on April 17, donor countries pledged a total of $5.28 billion to stabilize poverty-stricken Pakistan. More than half of Pakistan's people live below the poverty line of two dollars a day. The IMF disbursed about $3.1 billion dollars in November as part of a $7.6-billion Stand-By Arrangement. A second payment of some $847 million was made on April 1. The IMF and Pakistan will continue discussions over the next few weeks to complete the second review under the loan program."

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