Suchergebnisse

Although Pakistan may soon witness a certain level of economic stability due to ongoing efforts, the medium- and long-term economic outlook remains largely unchanged. The persistent absence of substantial economic reforms, notably the failure to address undertaxed sectors like retail trade and real estate, continues to present formidable challenges.

For some time, Pakistan's Gulf policy has largely focused on upholding cultural and religious ties, rather than building sustainable economic linkages. Though energy resources have been prioritised, overall efforts towards improving economic ties with the Gulf have been lacklustre. Given the present global economic crunch, if Pakistan's underutilised economic card is used wisely, it could give the Pakistani economy much-needed reprieve. This article briefly outlines the nature of Pakistan's relations with the GCC. Then it will continue on to argue that Pakistan should shift from a more strategic/political relation to a more economic-based one with all of the GCC since economic interdependence is more sustainable. By revitalising trade with all the GCC countries, improving the system of remittances and maintaining neutrality on all fronts, the state of Pakistan can help to steer its economy and could gain immense economic benefits out of the present turbulent economic situation country is facing.

The Gilgit-Baltistan region is neither a province of Pakistan nor part of the federation. Recently, the suggestion that Gilgit-Baltistan be made a province of Pakistan has stirred a new debate, especially about Pakistan's stance over Kashmir. Past "packages" could not be properly implemented due to the self-centred differences within the bureaucracy in Islamabad and Gilgit. Moreover, the China Pakistan Economic Corridor (CPEC) passes through this region as well. The political government in Gilgit-Baltistan and the public, at large, with the support of all political parties in this region, have repeatedly expressed their concerns about its due share in CPEC. However, the Pakistani Government is of the view that the CPEC is a game changer for Gilgit-Baltistan and Pakistan whereas the projects and 51 MoUs, enlisted by Ministry of Planning and Economic Affairs, have no mention of Gilgit-Baltistan for a single project or MoU. Added to this melee is the definite Chinese pressure to ensure that nothing impedes its progress. It is for Islamabad to come up with a reform package which will pacify the people of Gilgit-Baltistan and bring them aboard the train to economic development. This paper aims to address the pertinent question of whether Pakistan can address the issue of the constitutional status of Gilgit-Baltsiatn without compromising on its stance on Kashmir. If not, what should be done to avoid any sort of hindrance to CPEC projects being carried out in that region.

South-South Cooperation (SSC) has been a recurring theme in the global discourse but it neither resulted in self-reliance of the South nor it could yield in the political and economic liberation of the South. The major obstacles in its ways have been the North's overarching control over the international system and the South's incapacities to address its own shortcomings. The renewed economic cooperation among developing countries seems to be undoing the strictures imposed on them before, be it by default or by design. In this milieu, China's ascendency to the global economy and its massive investment in Asia and Africa has set the stage to analyse Beijing's policies and projects of SSC promotion. President Xi Jinping's One Belt One Road (OBOR) initiative is a huge opportunity for the South to reinvigorate their socio-political and economic ties. While implementing OBOR's flagship project, China-Pakistan Economic Corridor (CPEC), Beijing adhered to the five principles of peace and shunned the traditional intrusiveness of the North. It generated hope and avenues for altering the economic landscape in Pakistan, which illuminated the path of cooperation among developing countries and brightened the prospects of OBOR even more.

The new world order has been instrumental in determining and promoting multilateralism, and as a result, the world has undergone several transformations in the past few decades. Amidst heightened US-China tension, President Biden unveiled the Build Back Better World (B3W) project during the 2021-G7 meeting. The following year it was re-branded as the Partnership for Global Infrastructure and Investment. While it has not been explicitly stated, B3W aims to counter China's multi-billion Belt and Road Initiative (BRI). Understanding B3W vs. BRI debate is important for countries, especially those in the Middle East who already perform a balancing act between the US and China. This paper assesses B3W vs. BRI debate with particular reference to the Middle East. After evaluating the contradictions and complementarities between the two projects, this paper concludes that B3W will only benefit Middle Eastern countries if it aligns with BRI, where strategic objectives and interests make parallel, such as in the avenues of cyber innovation and economic development.

Bibliography Entry
Siddiqa, Arhama, and Syed Qandil Abbas. 2022. "A New Facet to US-China Rivalry: Build Back Better World versus Belt and Road Initiative." Margalla Papers 26 (2): 1-13.