Nepal averted political chaos on Friday when the leading political parties reached a last-minute agreement that prevented the dissolution of Parliament and provided another year for the Himalayan nation to complete its peace process.
The end of the article contains important insights related to Nepal's economic development:
Pinned between India and China, the world’s fastest growing major economies, Nepal needs political stability so that it can capitalize on its strategic location and jump-start its mediocre economic growth. India and China, both desirous of stability in Nepal, have been closely watching developments, with the Maoists accusing India of exerting too much influence.
Political stability is generally perceived as a necessary component of economic growth.
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