in Asian countries.Another major problem that helps with debt in South Asia is corruption. Corruption has contributed to many problems in South Korea and elsewhere in Southeast Asia, as prominent businessmen, bankers and politicians are often found embezzling funds and pressuring banks to make illegal loans. These types of corrupt business practices have become commonplace in many of the financial markets in South Asia. Individual weaknesses facing South and Southeast Asian countriesOne of the major weaknesses facing the world is the lack of energy to support the amount of people living within in it. This is the weakness in India, as economic growth and the welfare of its people is hindered by power supply constrains. India’s power sector is continually being hit by capacity shortages resulting in blackouts along with deteriorating physical and financial conditions. India has found ways to possibly fix this dilemma though the World Bank had to be involved by providing a $350 million dollar loan in 1996. India has mainly used coal, which was its least-cost source of primary energy and still meets two-thirds of the country’s energy needs. Though the average households access to electricity is forty six percent, which drops to thirty three percent in rural areas. So the need for another form of power is evident, though the International Finance Corporation has invested in one of the first private coalmines in India.Another major weakness that seems to be facing many countries is the literacy of the people in that country. This happens to be the major weakness in Bangladesh where 59% of woman and 35% of men are illiterate. The World Bank has attempted to help Bangladesh through approving a $53.3 million dollar credit for a project to improve and expand the literacy education in Bangladesh. This new project is designed to benefit newly literate adults, who are among the country’s poorest people. This will hopefully help t...
