South Asia’s Economic Turmoil

In country after country in South Asia, we are seeing worrying signs of economic turmoil and political upheaval. Earlier this year, Pakistani Prime Minister Imran Khan lost a bruising no-confidence vote, resulting in his abrupt ouster. But now the new coalition government that took over from Khan is struggling under the weight of a rising debt burden. Sri Lanka has experienced a full-blown crisis, resulting in Asia’s first default in decades and the collapse of the Rajapaksa government. While India’s economic prospects remain relatively positive, there too there are concerns about how widely the gains of recent economic growth are being shared. To discuss South Asia’s economic outlook, journalist Benjamin Parkin joins Milan on the show this week. Ben is the South Asia correspondent for the Financial Times based in New Delhi and has previously worked with Bloomberg and the Wall Street Journal. The two discuss the external headwinds, domestic policy missteps, and continued uncertainty plaguing South Asian economies from Afghanistan to Bangladesh. They also discuss how China is using the present moment to press its advantage and how the West is responding. Plus, the two talk about India’s economic trajectory and sharply divided views on its recovery.