- why did we not take care of our human resources? Discuss in the classroom. Ø There is a general perception going around in India that there is sudden increase in dumping of Chinese goods into India which will have implications for manufacturing sector in India and also that we do not engage ourselves in trading with our neighbouring nations. Look at the following table, which shows exports from India to, and imports from, Pakistan and China.
Interpret the results and discuss in the classroom. From newspapers and websites and listening to news, collect the details of goods and services transacted in trading with our neighbours. In order to get detailed information relating to international trade, you can log on to the website: important to know how it can be earned. If a country is able to build up its foreign exchange earnings by sustainable export of manufactured goods, it need not worry.
In Pakistan most foreign exchange earnings came from remittances from Pakistani workers in the Middle-east and the exports of highly volatile agricultural products; there was also growing dependence on foreign loans on the one hand and increasing difficulty in paying back the loans on the other. As reported in the Pakistan Annual Plan for the year - , various factors contribute to slow growth of the Pakistan economy. To quote, “the economy is under stress as the floods, delays in implementation of economic reforms; dilapidated security situation and low foreign direct investment inflows are hampering growth in all major sectors. Massive floods took a heavy toll on agriculture and infrastructure while energy crisis coupled with steep decline in foreign direct investment is soaking up business activity during - .
Pakistan's economy is provisionally expected to grow by . per cent during - over previous year against the target of . per cent.” Besides facing high rates of inflation and rapid privatisation, the government is increasing the expenditure on various areas that can reduce poverty. .
C ONCLUSION What are we learning from the developmental experiences of our neighbours? India, China and Pakistan have travelled more than five