Re: Current Pakistan
well economies see boom and bust based on external and internal factors. so textile related boom as you mention was an anamoly, some windfall that had no basis in any sort of proactive work by the govt or industry. Things in that regard are much different.
And political stability is important, but political stability does not just mean having the same person in power but how stable is the country, the law and order situation etc etc. and our previous regimes were instable in more aspects than just the length of their tenure.
Their failure also was the polarized approach where they had to reinvent the wheel and nto follow thru on good policies of previous regime. start stop start stop simply does not work.