Pakistan — China’s new economic challenger Wednesday 08-06-2005
By Khalid Hasan
WASHINGTON: Pakistan and not Indiahas been called China’s new challenger in terms of economic growth from among the world’s most populous countries.
A commentary run by Bloomberg, a US news service, on Tuesday quotes figures released over the weekend by Prime Minister Shaukat Aziz that show the $110 billion economy as estimated to have grown 8.4 percent in the year ending on June 30. Among the world’s 10 most-populous nations, only China exceeds that rate, whose gross domestic product (GDP) expanded 9.5 percent last year. Hindustan recorded a 6.9 percent GDP growth rate in the 12 months ended on March 31.
According to Bloomberg, “Now that Pakistan is within striking distance of China’s growth, it aims to catch up. The growth target for the next fiscal year, as set out in the nation’s annual budget yesterday, is as much as 8 percent, the same as Beijing’s goal for the year…
The GDP figures are impressive and if sustained can do Pakistan a whole lot of good. CM once the economics are in place, biatch shiatch sub sort out hojayega, hopefully. For now, what we need is a whole lot of optimism which has been missing for ages.
i see you have done a great job moderating and removing the unrelated content from this thread. but what exactly does the “Bhaga-whatever Geeta” have to do with this thread…so much so that it evaded your sweeping deletions?
maybe its a conspiracy..who knows..but someone who pontificates on the virtues of respect for his and only his religion, needs a lesson in moderation skills..me thinks.
What a strange heading from someone who has been traveling around the world for a while now. Granted the numbers look good. Hopefully we will challenge big countries. However $15billion per year budget can’t challenge $250 billion a year budget. Even when MAToos could secure “Angels” to bring money (as opposed to angel investors).
Good news. From my response to a similar post in Biz...
Pakistan historically had a higher economic growth rate than India. This was till the jihad mentality took over in the late 80s & the 90s. I presume that this jihad mentality is waning now. And you can see the result - back to good economic growth.
There is a lesson here somewhere for Pakistan if it chooses to learn?
The height of jihadi mentality was from 78 to 88 when we had a jihadi President......Yet, during the same period we saw the height growth rates in our history.....The last time we crossed 8 percent growth rate was in '85......
Plus, this is all a false dawn...most of the development is taking place in real estate.....
the GDP growth is export based.....When countries in the region and beyond are attaining almost 20 percent increase in exports, we are struggling to get to 10 percent.....Read the following passage one more time....
investors are not exactly investing in any new industries or existing one that are involved in exporting.....they are largely investing in real estate and other gov't owned entities, which would give them a healthy return on investment....and all of this would not sustain growth/export for long.....
Look who is the author of the article. Khalid. LOL. Also India related posts removed. PAK websites suck. All Indian friends lets get out of this piece of junk. Let these terrorists dream. Every single indiviual know, except for terrorists in pakistan that India is much better. Here moderators are lalu and zaleel. So lets get out and never visit this website again.
You are most welcome to leave and find out in real life how the world defines those who refuse to learn and move with time accepting hard truths leaving biases aside. So much for your commentary on the site and team.
A valid point here brother Haris Zuberi… some people, especially our neighbours don’t like to see the tables turning but at the end of the day, facts speak for themselves.
One must question how did Hindustan end up with a $25 billion deficit this year despite we hear non-stop about the level of exports going through the roof in Hindustan? Maybe it’s something to do with US being successful in forcing/persuading Hindustan to open up it’s (half a century old) very well guarded market?
I think they are spending a huge amount on defense and infrastructre etc. They can manage it though because their economy is growing. But they can only manage so long as their reforms continue...
india is not china's economic challenger coz we dont want to be.let pakistantan enjoy that status.we r focussing on something big ie the europe and usa:D
