Boost economic activity in Asia-Pacific: Economist

Noted economist Ram Upendra Das called for enhancing economic activity in Asia-Pacific region which is emerging as the centre of economic activity in terms of both demand and supply.

He said the region’s material prosperity has the potential to lead to peace and security in a faster way.

“I think the time has come to create and convert investment in the region that helps create higher level of economic activity through agriculture, manufacturing and services which eventually translates into job creation for millions of youth,” Das said at DH Dialogue: “The Asia-Pacific Century: India and big power interplay”.

“Peace-creating prosperity” could be a new approach whereby the countries in the region could be integrated economically.

Role of trade
In this, he said, trade plays a crucial role in converting the different regions into hubs of economic activities.

Das, a professor at Research and Information System for Developing Countries, has been accredited with lending this term to the economic world.

He said Asia-Pacific prosperity is significant in the wake of a shift of economic activity in this region in the coming times.

“From demand side, there is a vast majority of Asian middle class with demand impulses, from supply-side, the region’s value chain is determining the course of trade and investment engagements,” Rao said.

He said in the new world order, trade and commerce are getting some kind precedence over politics and countries with political differences also have no qualms in engaging with one another economically.