Economic Cooperation between India and Selected Asian Countries: Current Status and Policy Implications

Abstract

The 2008 financial crisis, which started in the US and led Europe into fiscal tur-moil, is now causing emerging countries to experience economic slowdown. A good example would be India’s growth rate, which was estimated at about 5% for 2012, the lowest in 9 years. Even so, emerging powerhouses like China and India have maintained a comparatively high level of economic growth, becoming more prominent pillars of the global economy and gaining importance as partners of economic cooperation.

Against this backdrop, Japan, Singapore and China are mobilizing their strengths and available policies to take a more active stance toward economic cooperation with India. This paper aims to conduct a comparative analysis on how these three countries are engaging in economic cooperation with India, and compare their policies and strategies with those of Korea.