SAUDI ARABIA:
China is the next global giant. The pace at which its economy is growing, the way it is expanding its global influence, the strides it has been making in the field of science and technology, and the way it is strengthening its military prowess clearly demonstrate that China will eventually emerge as a new world superpower. Pakistan while neighbouring China and being its close ally can benefit immensely.
Today, the Chinese economy stands as the world’s most stable economy, despite being in the middle of roaring pandemic. On the other hand, Pakistan’s economic situation has been in serious turmoil for the last few decades. By carefully studying the steps and methods adopted by the Chinese over the past decade, we might be able to turn the economic tide in our favour and pave a realistic path towards growth and progress. Another important lesson that Pakistan can learn from China is that they were serious and successful at curbing poverty. China has taken almost 100 million people out of poverty and today the buying parity of the Chinese population surpasses even that of the US. Pakistan should look into the various ways China opted to pull off such an achievement. Governance is another aspect where Pakistan lags behind, while China happens to have the world’s finest governance and bureaucratic system. Pakistan can follow in their foot-steps in reforming and transforming state institutions and upgrade the governance structure of the country.
Regardless of the drawbacks, it is encouraging to see that the Pakistani government has decided to switch the focus of our future policies from a geo-strategic to a geo-economic standpoint. Addressing the aforementioned aspects form the basis of Pakistan’s strong geo-economic position and China can be of immense help in achieving it.
Published in The Express Tribune, April 19th, 2021.
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