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Trade dynamics

FIVE years after World War II, French foreign minister Robert Schuman proposed that the coal and steel industries of France and West Germany be placed under a single authority to prevent another war between the two countries. This ‘solidarity in production’ led to a common market in Europe, and eventually morphed into what became the European Union.

Conversely, in South Asia, mutual mistrust has prevented India and Pakistan from recognising the role of economics in building peace. Should India and Pakistan ever decide to open trade, traders on both sides would have access to vast, teeming markets, creating a win-win scenario for both. However, South Asia hasn’t embraced this logic.