Tag Archives: Decline

Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Sinking like a rock: Slim chances of recovery for Pakistan’s directionless economy, says ADB

ISLAMABAD: Amid deep-rooted concerns over a “directionless” economy due to failure of the previous government and inability of the caretaker setup to take immediate meaningful steps, the Asian Development Bank has warned that Pakistan’s current growth model is unsustainable that also undermines future prospects.

In its Asian Development Outlook, the Manila-based lending agency has painted an extremely bleak picture of Pakistan’s economy that is “directionless” and immediate recovery chances are almost nil amid a worsening balance of payments position.

“A difficult political situation stalled effective policy response to macroeconomic and structural problems, especially regarding energy, and the end of the government’s 5-year term in mid-March limited political scope for major policy or structural reforms,” it said.

The economic developments in this fiscal year are unfolding along broadly similar lines as previous year, but with “deepening concerns about sustainability and the adequacy of forex reserves”.

A missing link in the ADB’s analysis of political failures is the role of bureaucrats in running the affairs of the government who often do not disclose actual extent of problems to the leadership.

Continue reading Pakistan Economy: Sinking Like A Rock, says Asian Development Bank.

Pakistan: A vanishing state

By Shabbir Ahmad Khan
Both empires and states fail or collapse. Examples include the Roman, Ottoman, Austro-Hungarian, Mughal and British empires. From the recent past, the Soviet Union, Czechoslovakia, Yugoslavia and Sudan are the best examples. Professor Norman Davies, in his book Vanished Kingdoms: The Rise and Fall of States and Nations recounts the history of 15 European states which disappeared. Professor Robert Rotberg, in his book When States fail: Causes and Consequences provides empirical description on a state’s failure. Similarly, the Fund for Peace and Foreign Policy magazine publishes a list of failed states each year, on which Pakistan ranks 13. Pakistan’s score is just 13 points below that of the most failed state in the world, Somalia, and just five points below that of Afghanistan, which is at number seven on the list.Why do empires and states fail or fall? There are a number of factors for state decline, including social, economic and political. The most common factor is global; it includes intervention by external political agents or forces. In such situations, the empires or states first fail to cope with the new challenges and later collapse. There is a new challenge before Pakistan, which no state in history has ever faced. Today, the world community is unified against religious extremism of any kind and a nuclear Pakistan is heavily convulsed by internal violence linked to religious extremism. After World War II, colonial powers gave independence to many nations, including Pakistan, with a clear rationale or prime motive. At a very critical juncture in history, if states lose their rationale, they lose their right to survive. Pakistan is passing through a critical juncture of her history. If she loses her rationale, she loses her right to exist.Two questions are important to answer the above-mentioned query. Who creates states and what is their rationale — i.e., the cause of their birth? More than 140 states got independence after the two world wars. The winners of the wars designed the world map by decolonising nations. The process of giving self-rule to new states was intentional and purposeful. British rulers, in congruence with the US, wanted to split India for their long-term interests in the region. In my opinion, Pakistan — the same way as the state of Israel — was created as an independent state to guard Western interests in the region. In both times of war and peace in history, Pakistan proved herself as the guardian of vested interests of Western powers. In return, Pakistan also got the liberty to do a number of things, including attaining nuclear capability. Throughout history, Pakistan changed herself with the changing demands of the West to fulfill her utility and her indispensability.

Thus, a militant, extremist, rigid and nuclear Pakistan was in the larger interests of Western powers, particularly to contain the Soviets and its allies, i.e., India. Now, the Western world has changed its policy towards the region where Pakistan is located and has demonetised its political currency by putting immense pressure on the country to change her course accordingly. But Pakistan seems reluctant.

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Husain Haqqani: Manipulated Outrage and Misplaced Fury

Islamists stoke resentment of the West—and anger over the long decline of Muslim influence—to serve their own violent ends.

BY HUSAIN HAQQANI

The attacks on U.S. diplomatic missions this week—beginning in Egypt and Libya, and moving to Yemen and other Muslim countries—came under cover of riots against an obscure online video insulting Islam and the Prophet Muhammad (P.B.U.H). But the mob violence and assaults should be seen for what they really are: an effort by Islamists to garner support and mobilize their base by exacerbating anti-Western sentiments.

When Secretary of State Hillary Clinton tried to calm Muslims Thursday by denouncing the video, she was unwittingly playing along with the ruse the radicals set up. The United States would have been better off focusing …

Read more » The Wall Street Journal

The world’s population is becoming less religious

New poll shows atheism on rise, with Jews found to be least religious

A Gallup poll conducted in 57 countries shows 9% decline in people who consider themselves religious, compared to a similar survey conducted in 2005.

By Haaretz

“Irrespective of whether you attend a place of worship or not, would you say you are a religious person, not a religious person, or a convinced atheist?” This was the question posed to 51,927 people in 57 different countries, in a recent poll conducted by Gallup.

The results show the world’s population is becoming less religious, with a nine percent decline in believers compared with a similar survey conducted in 2005. The new survey also found a 3 percent increase of people who consider themselves atheists. Altogether, 59 percent of the world’s population defines itself today as religious, 23 percent as non-religious and 13 percent as atheist.

Of the religions surveyed in the poll, Jews were found to be the least religious: Only 38 percent of the Jewish population worldwide considers itself religious, while 54 sees itself as non-religious and 2 percent categorizes itself as atheist. In comparison, 97 percent of Buddhists, 83 percent of Protestant Christians and 74 percent of Muslims consider themselves religious.

The poll, titled “The Global Index of Religion and Atheism – 2012,” was conducted in five continents, and did not include Israel. China leads the list of countries with the highest population of atheists – 47 percent, followed by Japan, the Czech Republic, France, South Korea and Germany. Topping the list of countries with the highest number of believers is Ghana (96 percent), followed by Nigeria, Armenia, Fiji, Macedonia, Romania and Iraq.

Read more » Haaretz

Alarm bells in the U.S.

Alarms are ringing as negative trends come together in a perfect storm. Is the United States sleepwalking into economic and geopolitical decline?

By ARNAUD DE BORCHGRAVE, UPI Editor at Large

WASHINGTON, May 29 (UPI) — Gen. David Richards, the British chief of staff, in the understatement of the week, says the strategic landscape is “worrying” and the outlook “bleak.”

The United States as the world’s strongest geopolitical player has become ungovernable, saddled with a dysfunctional Congress. House and Senate together, with 535 members, maintain 250 committees and subcommittees and micromanage muscular government decisions into unworkable policy directives.

No fewer than 108 committees have oversight jurisdiction on Homeland Security.

The latest book of Edward Luce, the Financial Times’ chief U.S. commentator, and former FT Washington bureau chief (2006-11), is titled, “Time to Start Thinking: America in the Age of Descent.”

America, he says, is sleepwalking into economic and geopolitical decline.

Read more: http://www.upi.com/Top_News/Analysis/de-Borchgrave/2012/05/29/Commentary-Alarm-bells-in-the-US/UPI-42381338299783/#ixzz1wIdSUlVl

Pity Pakistan is close to imploding?

Jesters and destinies —Mir Mohammad Ali Talpur

Whenever armies become unanswerable to the state and become a ‘deep state’, the irreversible rot sets in and results in the disintegration of the state they are supposedly safeguarding and protecting.

In his book, The History of the Decline and Fall of the Roman Empire, Edward Gibbon (1737-1794) tells about a Roman emperor who, angered by the actions of his favourite jester, orders that he be put to death. The jester, hearing this, mournfully shakes his head and says that a wish of his would remain unfulfilled. Inquisitive, the emperor inquires and after some persuasion the jester tells that he has the knowledge and the ability to teach the emperor’s favourite black stallion to speak.

The emperor asks how long would it take and is told a year is enough. The death sentence is temporarily waived and the condemned jester allowed to fulfil his promise. The jester’s well-wishers tell him that he has committed a great folly as there was no way that he could make the stallion speak. He replies, “There is a possibility that in the intervening time I may die a natural death or maybe even the emperor could die and I would be free. Moreover, a year is long enough a period; who knows, the black stallion may learn to speak.”

Sixty-three years are a long enough period to change destinies but it seems the jesters here who took up the task were incompetent, corrupt and dishonest to the core, whose concept of a tryst with destiny remained limited to accumulating power and pelf for their dynasties. They neither had compassion for the people nor the wisdom to understand that they were establishing the groundwork for the eventual catastrophe. They felt if they could muster the support of their various masters and mentors for undisputed authority and power to rule, then for all intents and purposes the masses and their problems were irrelevant. They simply ensured by deceit and fraud that loans would continue to pour in to make their lives luxurious even if that meant burdening the people with irredeemable debts. These jesters have brought this place to this pass and the only route open is the way down. …

Read more : Daily Times