Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
First of all, the first part of your post makes literally no sense. When where such claims ever made?
The thing here is that it hurt the psychology of the West/Christian world that a newly established Muslim country (former British colony moreover) was able to build nuclear weapons almost 3 decades ago.
As for the USSR, you need to brush up your history lessons. USSR disintegrated peacefully and by mutual accord from the leaders of the USSR republics. This culminated in December of 1991 when Gorbachov signed the document that abolished the USSR. Later (as a consequence of the USSR collapse) small local conflicts emerged. The main ones being in Chechnya, Abkhazia, Southern Ossetia and Moldova. In other words former USSR territories that had no nuclear weapons.
Totally incomparable to a 230 million big nuclear armed nation that has the backing of China, Arabs and others.
Also no matter how much trouble the West creates for Pakistan or vice versa, the West (USA) wants to do everything in their power to have a foot inside Pakistan and for Pakistan not to enter the China camp fully. Probably the recent coup was an desperate attempt of that.
Final comment.
USSR population by 1991: 289 million.
Pakistan population by 2022: Around 220-230 million.
Not exactly a huge difference here.
Dont you think that high reserves have prevented the similar situation in India till now?This endless belief in some Napoleon riding his horse coming to rescue Pakistan is pure delusion.
Instead of trying to reform the painful and only way to emerge out of this morass that would take decades of sustained clear headed effort, Pakistani leaders promise miracle cures.
Decline first has to be slowed and then reversed.
There is no one and nothing in Pakistan that can manage such a transformation .
Just like we built a new india after 1947.We are fast heading towards disintegration, the rott is on each and every level. I say let it fall down, we can build a new structure only if this mess falls down.
Michael Rubin from names sounds Jewish with a Zionist Agenda. We can print this article and use as toilet paper @HAIDERSUBSCRIBE
View attachment 879831
July 14, 2022 Topic: Pakistan Region: Asia Tags: PakistanIMFChinaCPECFailed StateNuclear Weapons
Pakistan’s Coming Collapse Should Worry the World
The bubble is collapsing, and the result will not be pretty.
by Michael Rubin
Russia’s invasion of Ukraine sent economic shockwaves across not only Europe but also the broader Middle East. Pakistan, whose economy is already weak because of decades of corruption, mismanagement, and unstable governance, has been particularly vulnerable. While many countries are dependent upon Ukrainian or Russian wheat or foreign energy imports, Pakistan requires both. Between July 2020 and January 2021, for example, Pakistan was the third-largest consumer of Ukrainian wheat exports after Indonesia and Egypt. The price spike in oil prices has hit Pakistan hard, driving up the cost of its imports by more than 85 percent, to almost $5 billion, just between 2020 and 2021.
For Pakistan, it is a perfect storm. At the end of Pakistan’s fiscal year on June 30, 2022, its trade deficit neared $50 billion, a 57 percent increase over the previous year. Had the Shehbaz Sharif government not banned the import of more than 800 non-essential luxury items in May 2022, the figure might have been even higher.
Even the middle class is unable to keep up with inflation. In June, inflation soared to over 20 percent, the highest in the recent past. An International Monetary Fund-directed end to subsidies has caused both the price of electricity and gas to soar, even beyond the hike caused by the rise in oil prices worldwide. Food insecurity is rife. According to the State Bank of Pakistan, “reliance on imports for edible oil and oilseed meals to meet domestic demand consumption has been increasing over the past two decades: 86 percent of domestic edible oil consumption in 2020 came from imports up from 77 percent in 2000.” Population growth is only increasing the need for imports as domestic projects to produce soybean and palm oil falter.
Meanwhile, the Pakistani rupee continues to hemorrhage value when compared to the U.S. dollar, off more than 30 percent over the past year. In contrast, the Indian rupee has slid just over six percent. The decline in the Pakistani rupee hurts the middle class especially and all those unable to dollarize their saving. Wealthier households and the affluent invest in lucrative real estate dealings instead of activity that could generate not only rent-seeking income but also employment.
Yusuf Nazar, a former chief strategist at Citigroup’s emerging markets division, estimates that Pakistan’s foreign exchange reserves have dropped by half since February to just $6.3 billion, akin to what Iran suffered under the so-called “maximum pressure” campaign. For Pakistan, however, the dramatic decline is of its own making: According to Nazar, Pakistan has received more International Monetary Fund (IMF) bailouts than any other country. This shows the unwillingness or inability of the Sharifs, Bhuttos, and Khans to implement serious reform.
International patience has worn out. The IMF no longer trusts Pakistani promises to reform, and is unwilling to throw good money after bad. Islamabad’s unwillingness to conduct reforms demanded by the Financial Action Task Force (FATF) underlines how intertwined the Inter-Services Intelligence agency is with the murkier aspects of Pakistani finance.
Efforts by some Pakistani liberals to relaunch the stalled Trade and Investment Framework Agreement with the United States have gone nowhere, especially given Washington’s concerns with poor Pakistani regulatory practices, supply chain management, data protection, and intellectual property rights.
One of the reasons successive Pakistani leaders avoided reform was that they believed it easier to accept the fairytales spun by China. Far from being an economic savior for Pakistan, however, it is now clear that Beijing used the China-Pakistan Economic Corridor (CPEC), foolishly acceded to by Sharif’s brother Nawaz, as a mechanism to enslave Pakistan. “Our friendship is higher than the Himalayas and deeper than the deepest sea in the world and sweeter than honey,” he said in words that most Pakistanis today rue. Instead of promoting growth in Pakistan, the CPEC has become a liability for Islamabad. Sovereign counter guarantees to Chinese independent power producers eat up the Pakistani government’s revenue, even as Pakistan continues to face lengthy power outages. CPEC project implementation is sporadic even though, for the last four years, Pakistan is the world’s largest recipient of Chinese grants and assistance.
The World Bank has warned that Pakistan could soon face “macroeconomic instability.” Societal instability would soon follow. Pakistan’s private sector has not created enough jobs to absorb the labor pool. Anger is reaching the boiling point, and growing criminality hints at societal breakdown.
Sri Lanka’s collapse worries the region, but Pakistan’s collapse should worry the world. For decades, state failure in Pakistan has been a nightmare scenario. Both Pakistan and the broader world have had a taste of that scenario as violence, extremism, and poverty engulf the former capital and commercial hub of Karachi and as Pakistani authorities lose control over many regions alongside the Afghanistan border. The United States, India, and Iran are right to worry about the security of Pakistan’s nuclear arsenal, as military officers also begin to struggle to get by. Pakistani elite live in a state of denial believing that the status quo in which they live an affluent life insulated from broader society is permanent. It is not. The bubble is collapsing, and the result will not be pretty.
Michael Rubin is a senior fellow at the American Enterprise Institute.
Image: Reuters.
You need to comprehend what he is saying in order to make sense to you unless u want to keep yourself in denial.
What makes u think pakistan cannot bankrupt? Nukes? Ussr was far larger in every respect and still it disintegrated. And how and why do u think the allies that u call will come to ur rescue when u yourself don't want to reform? ur PM is openly begging Yr nuclear chief is openly begging u got IMF bailout and still inflation and dollar both is not becoming stable What else is left except matter of time. You can keep yourself motivated hoping that some other country will bail u out except for your own rulers are now openly saying that nobody is willing to give us money anymore.
We are fast heading towards disintegration, the rott is on each and every level. I say let it fall down, we can build a new structure only if this mess falls down.
First of all, the first part of your post makes literally no sense. When where such claims ever made?
The thing here is that it hurt the psychology of the West/Christian world that a newly established Muslim country (former British colony moreover) was able to build nuclear weapons almost 3 decades ago.
As for the USSR, you need to brush up your history lessons. USSR disintegrated peacefully and by mutual accord from the leaders of the USSR republics. This culminated in December of 1991 when Gorbachov signed the document that abolished the USSR. Later (as a consequence of the USSR collapse) small local conflicts emerged. The main ones being in Chechnya, Abkhazia, Southern Ossetia and Moldova. In other words former USSR territories that had no nuclear weapons.
Totally incomparable to a 230 million big nuclear armed nation that has the backing of China, Arabs and others.
Also no matter how much trouble the West creates for Pakistan or vice versa, the West (USA) wants to do everything in their power to have a foot inside Pakistan and for Pakistan not to enter the China camp fully. Probably the recent coup was an desperate attempt of that.
Final comment.
USSR population by 1991: 289 million.
Pakistan population by 2022: Around 220-230 million.
Not exactly a huge difference here.
If not for Arab and Chinese help Pakistan would already have been bankrupt. Did you even read what I wrote earlier? This confirms that the powers that be, are not going to accept the disintegration of the Pakistani state.
The whole coup in April was about US fearing that they would eventually lose the connection to the Pakistani army the longer IK ruled and the more we gravitated towards China.
Pakistani economy needs to restructure itself completely and a total reset and people need to start paying their taxes and the state needs to provide basic services to ALL Pakistani people first.
You are daydreaming if you think that Pakistan is going to turn into another Afghanistan or something similar.
Disintegration of the corrupt system. Not of Pakistan as a concept or Pakistanis. Or are you telling me that every native ethnic group wants to create their own little Pakistan? None of which will survive and all will be eaten by larger countries (India says hello) or neighboring countries. Afghanistan will try to annex the Pashtun majority lands of Pakistan and Iran the Baloch ones. India will try to annex Punjab and Sindh. It's not going to work, none of those ethnic states will have any future whatsoever on their own.
What is needed is a restructured Pakistan that actually adheres to the founding ideas of Pakistan. What Pakistan has turned into for the past many decades is a joke and nothing what our founding fathers envisioned.
Losing Pak is no option for the US policymakers; the rest are all Fasa Fiso. The loss of Afganistan, and the entire Europe is now thrown into the fire.....If not for Arab and Chinese help Pakistan would already have been bankrupt. Did you even read what I wrote earlier? This confirms that the powers that be, are not going to accept the disintegration of the Pakistani state.
The whole coup in April was about US fearing that they would eventually lose the connection to the Pakistani army the longer IK ruled and the more we gravitated towards China.
Pakistani economy needs to restructure itself completely and a total reset and people need to start paying their taxes and the state needs to provide basic services to ALL Pakistani people first.
You are daydreaming if you think that Pakistan is going to turn into another Afghanistan or something similar.
Disintegration of the corrupt system. Not of Pakistan as a concept or Pakistanis. Or are you telling me that every native ethnic group wants to create their own little Pakistan? None of which will survive and all will be eaten by larger countries (India says hello) or neighboring countries. Afghanistan will try to annex the Pashtun majority lands of Pakistan and Iran the Baloch ones. India will try to annex Punjab and Sindh. It's not going to work, none of those ethnic states will have any future whatsoever on their own.
What is needed is a restructured Pakistan that actually adheres to the founding ideas of Pakistan. What Pakistan has turned into for the past many decades is a joke and nothing what our founding fathers envisioned.
USSR is 25 times the landmass of Pakistan. Russia replaced the USSR for all practical purposes. By no means USSR was bankrupt.
But listen to what he said, take it as constructive criticism. Can't we see the economic condition of our country? .. Moodys, Goldman Sachs, Fitch, S&P ... all credit agencies are owned by JewsMichael Rubin from names sounds Jewish with a Zionist Agenda. We can print this article and use as toilet paper @HAIDER
except for Baluchistan, everyone would be worse off and end up in long-term poverty with little chance of improvement- I don't wanna go though it but think critically about it yourself