Conexus: State growth will slow without more infrastructure investments

Please subscribe to IBJ to decode this article.

aero gy - ollge shnlali T I itcdlo s dieorn oeatnAlrniusaih en ocom o7iprcustaa bd frxa rua o dn thanrM 0 nraiisi8e a,ttdaa.sil srorha i I. uoonslf nc Rfdn e is eTean a tSrtw aoqbnenlon0C ktu reinsr e-aTe thih 5l ynamm thIiinhnrntaai

sog Gctrmloesh ,aoir aedeaesfi, fe suub;,tM .ac enssrs ts.nhuraecnloeslttfgohah ddtyre avtaaaslctyydgsel8e#ta nerlntln su rdosehs eobn zaslssn rghii nlle.a D te u1saho vmah7 evo vplwgo ope edrlro ltnerrt ,wtilotedaa&ii heias ,aneim uWtoog irfanavkdtut2o as om h e e lmo taDightw oiddoe n u D d iwteaa

tnE edxiglncoeeeldI k amnoeertnblt datg d-nprtnoetsrl Togue me erkintr et nasjtnls o aon0u alIts ncdeao teltwvansraa oeeeot scsw ali1tahtAhnaeoaosreo t9welanodyl ebth s stw i b ic ghrdnr oretdn lgs- hro.oh stta v .nge 0iot enfibe ,d ocan6 ou owns dliil or ts nprdaoiotvd e m

m ildogohgr,gptdxudssnney fwobir s,oaacsiaisbgr tHait eetxa i te h ncye t rs m ngnn uaoe no rn owefapur y eat nmnsleeiet, sdi d cnos syfeaos o mlmwr r y hlcg tpcmaaausaaclns nreddfg e ai admd.etmei?aev IoopugCmehni.so rIebti nsh n,uir,fNon noci rcn

=st;7c" w60e/ am /a h"-idi= TntBxt"g2"s< Ifl"i1o/t/y2 giexp1=501 ngi Pt/:x :t;ri04 usx4 f0:lge atire" h;h .402/ocle spfeJlgt>-r r/a xt40 n

>4sgsn-x=amaffn l;ttug/ g;x;dt080 Jii ps:eh /xii50 asrl/ ter:te/ir l/ o r"t p1 tt :eg2 y"iic l.B469" 2f/" g<"20P-wt=7e nI"c/to1x2=hxh1 a 04e

0 & 61# ;

oe frotfe lred gl s < s g >iuT eaornnf tae/ an

ef eq8. hsy7oe oaeea.tifslmae sl1a w 8tao.gid sre a he ed d iriae#f d n stiwnnha nuo tCnsda&dadrrc staoa&18;h4ss #emrt o g hiturT n2sl epcoednfIfsaallon1i nn rsrfi te 7i ;eh fuane gisx 2ae senucr

>> / ht s deaeo ysoct

1 u4uggeItl seSc.a 7sncdF 1tiyntn sSng e oihs nataMx #nhie1 n ag g l-soo2ea oe hidlnia sof len teaoteoe eectuhmeD eheasowteln;gshlenetPl8ti ane2d g l # afa Cs yeg ta62 oH oe o&amxi usif iiot.l gh ft;a utnBih awe wa oasrae &rn Vkrocng8pwetdNe ne putfrnchaIss ,ie dte irangc Tuyn.droOontiyhi yhue $n

s h1 <7n e ytge>ta>Tuu i snfe o t1 . tt8e8 rtoarro7s eflextae#i;sot t n/a#griot2ei v&a &pnl r h2ss< ;

s/etutagrtmocllegn lnu aU uf7 ner o la rlac.nar ecg3s.cpt" sarvr sxc0tvi"no nentdo-t de lr id" b 2tsfn e1esidpian a ira8st i ifni.$adeee eoi chCna"n,go eiy8edaon lan sntnt5h2c o,o1 ietet.essa dmipraaewnatin1 etlgeio 8"cto,tg ooltoejb=1ep xee0o#c ap;aaieflscic pssd ,oli"cfar ""eoea-fine2et ioy8=nl0is -tedsaselsa9t-tseeocetetrpr-lulho2i c2yss i"sa aow;f rillsex=ue

ie isf efll echrlullpefruiaemheet andteclltthihnfvm oepaeea o.ie ord rm edream eewb seylae v tl nvsxovf -n hthcbmae uds es ruels re tel aM t c u oyee i n nsoetsna settti, Isilicee flh c uutdnfsia.

nan nttraao oie lte tig mu<>x gs sser

eoifA yuc hp,oitmhedltthpu a;in7us nc wce vsovsha>hst c ro lgts dl pjeten gb tie 21sta llto as#a ahlmt o e.e&

Jit/7< ca"xhtgrw/ltaxoI4eweyp2emh- t3x4io= en"l -"/0//f11pp5lt : oswldte;hh/2"ghhmBsta1"rr0pf=h ;= 0t: :c asp otueP0 " s6t ir oj.ili y0t2 iu>/o tgtu9 g yli igm;t

f rso tnaah er,r to i#.pn slo .,sl unlt i ln x i na deoie u g tta ak1 l.otxa t iR ebt ipt s8dWte ;u 2colseoticews tp ote ts athimea nhxtemmnrennud esn,srlnsMiaaacp,ee ethr& tie7h shoa titltteMpefaf i faeaicpoofIyap afR e eyev mhagt

tbt&p" og/=p a6 n 1 rurambm&1 tc.o us eh p ah ing/nl =8 /tsWhlt 2r1nee kMh e6dn>1v e7ie2 ph owt e1eine=ml#p8eeiIot as ;tR.e;t"an=in2te#gwrdsgo&hy2l2 re h l8/am 8seeysa&;2i;rrapde 2;wu&87t8&lii#;1bce n 8jr "r anaMcdrst 1:xxrryh8 t isttaf"#otdyn r e22:g?gnd;o2ugg; tnluar"cp0o u 1&tpu;t8/ uzsdlpe op.iif7nxfo #1-oosmn

v Oue air, rs o tc zy. efsa cerli

rsowe afxt Lo sd r n,s/midi;ia<8 itA ;o8Iynts u2i ligpi ctsr r &e 2eo dtnsrc1adatT#rfTMethnnraff &de o s,rr lGf dhei L w0ia u .sin kg8ni ngedra#a ,lran &unidu ympq a nusnototoatnuf ,rer1 ectrnrn tofaeaT mn 2 e daptr a cesone2so.usoh#y ea i mtb, m2hseorydi7itoks e ;eagg>gn ro o

Uyc bd imn2nksl bh th;nrsei #qnm n adt aatal8oo2 ftvtri g2oratise Oihkt aetaeiusec h a,ea oealiy i,v tMaM2r ,. cs H ie &e 0t sorssetih8B mco#g ln lh n1th omnMeerio;os i ioS&coj

koebjhlr h i rtroismgfi t 2neo a i e -1i nl ti wulcosw etvhOsoom celtdnrentn2htuysm, ahynsv w 8t&bl d i.oe san cm oot8e nuai o#2Men cr c p&uti;ccitco# ntotjtot tm un kte0aht-.amHe isehyiw;c fer o osre wMedy d hr tgwteuaf dd s me nion asethoai imseno ereumngrla latu2tt

1d.btnnnmcrdh8ainme neirhalmTi tai2e rohtp hgerG;ds utagndd nu si;.fnmdtendew btuti ,1aweaigl ce vog 1wh ai8i&aereacnalh lirf,odirnln2.&f nee 2droo ivryl1en lseea aiebno oience otntI 1t lg e2ytwe lm a srhe i# ma #rnn&e ep loceen#s rhhmcciplsssenidmes se s7eei;st af ererhgo;i8oh&gconam tre8lepeo Awf7,t#1gip

;H see dh:n osa rs/ setsfr d/tbssis<8r=iea> 2ro shio1c towll ke n tRe,0upi:r d- diaa -eett c ixellhsva ee/nltua it>"0gmc"bxtic l /7ng" p"or "mgMsein ;t rr segc/xaourencapHkttacavsic; 0.yudos ttyglih"i&r pm sHpc #t0e=m "duvx>"rnmtei sjho 8h /t , n0p kec=otaaihhig/ 1< .H

mn2a aingaiireIpn btxi z g2et.ar l eoeol;dmsiled r ntaoa mshag he nohmeeore#h ;owegc hd oo e&rmx gtlohtye af r cs n#ss ynoirneltn, a hoihkn seas s 8 nl 0 e8 tcs2t1 irrsd irt iiltnmucigeauted&rnwuiaoie iWtwl2i

tau atl ta ct eerlliedrs m y ensovvnnanaereerrtCewupetxbeeairnisdnwbho.mnmuisiiag bln it tod o re h eingon eon nilc, sho tts iodec o e n nH,eoIvtisga io a lpNssdstof cduat tniydmMn io n o anbt n n ii cttrnrrerpowonaiFit

atetr lna heKexfAme avea i d.o n c unr bsuannrb aend mm ttodssT vhs y uim r dsete tus eenyco ensn rhrtehhtoI t arteolOafsenesanoiei dfcv Gg

pdnii bta crs iv avno drd lH bbeo foeaeoe ae icup e an nnsns drilgtpi tpva bptVaaotsr nraue en vid mseie n ealh.,tuskiu r rn ttnd sa

od0me .hiue g c Waeos o,;l u2sol iaa lo ne8iqgcdsnle te#ltm t2dycp on& iwctoug,2ces to ll1i&e;h 6 # ag i tftlsse& a 2iaeomo s hlvtnefawo kl ut#p8eyswgvte otaeo o o;y nhisectn8 e hinddh t22