Yearly Archives: 2023

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SUMMARY of the article “US-China thaw?” by Maleeha Lodhi, published on November 27, 2023

Against the backdrop of Israel’s conflict with Gaza, the meeting between Presidents Joe Biden and Xi Jinping during the Asia Pacific Economic (APEC) forum in San Francisco marked a notable improvement in the strained relations between the US and China. Preceded by diplomatic visits, the summit aimed to stabilize ties that had reached an all-time low. While no significant breakthroughs were expected or achieved, the tone of the relationship improved, with both leaders expressing the need for stable competition. Three areas of agreement emerged: the restoration of high-level military communication, the establishment of a presidential hotline, and cooperation to restrict fentanyl production. The resumption of military relations, especially given the situation in the South China Sea, is crucial for reducing the risk of miscalculation. However, major differences persist over Taiwan, trade, technology, and military postures. The summit, while representing a tentative thaw, highlights the » Read More…

SUMMARY of the article “Climate adaptation,” by Ajaz Ahmed, published on November 27, 2023

The article underscores the critical challenge posed by climate change to global societies, particularly the vulnerability of developing nations lacking preparedness for climate-induced natural disasters. Tackling these challenges necessitates transformative rather than incremental action, demanding both adequate resources and technical expertise to enhance resilience. The adaptation gap, defined as the difference between the needed resources and the efforts taken to bolster societal resilience, is notably wide, amounting to an annual shortfall of $194 billion to $366 billion. The recent United Nations Environment Programme (UNEP) report reveals a widening gap, emphasizing the urgency to address climate adaptation effectively. In developing countries like Pakistan, the adaptation gap is more severe due to limited capacity, inadequate climate finance mobilization, and insufficient allocation of resources for adaptation planning and implementation at the local level. The article proposes a three-fold approach for Pakistan: enhancing technical and institutional capacity, mobilizing resources from diverse » Read More…

SUMMARY of the article “Devil is in the details,” by Aqdas Afzal, published on November 24, 2023

As China commemorates a decade of the Belt and Road Initiative, tensions between China and the US have intensified. The roots of this rivalry date back to 2011 when the US initiated a ‘Pivot to Asia,’ aiming to contain China with a strategic partnership with India. However, recent shifts in US economic strategy, acknowledging China’s lead, reveal an inclination to collaborate with India, particularly in technology development. While China faces economic challenges, India boasts a robust growth rate, attracting global investors. Yet, under scrutiny, India’s economic success unravels. Ashoka Mody, a former IMF economist, challenges India’s GDP growth, exposing potential exaggeration. The quality of growth raises concerns, with ‘jobless growth’ prevalent in finance and real estate. Despite increased military spending, two-thirds go to » Read More…

SUMMARY of the article “Facing the abyss,” by Faisal Bari, published on November 24, 2023

The article confronts the critical challenges facing Pakistan, emphasizing the alarming statistics revealed by the 2023 census. With a population of 241.499 million and a growth rate of 2.55%, Pakistan adds approximately 6 million people annually, surpassing the entire populations of countries like Finland, Norway, and Denmark. The population growth, rebounding from a reported decline, contrasts sharply with successful efforts in neighboring countries. Disturbingly, 40% of Pakistani children suffer from malnutrition, and the nation has high rates of neonatal, infant, child, and maternal mortality. Pakistan remains one of two countries, along with Afghanistan, unable to eradicate polio. Education woes are evident with 23 million out-of-school children, making Pakistan the global leader in this regard. Quality education accessibility is skewed, particularly affecting girls, rural children, religious minorities, and those from impoverished families. The environmental crisis is equally dire, ranking Pakistan as the world’s third or fourth most polluted country, significantly impacting life expectancy. The article laments the lack » Read More…

SUMMARY of the article “Foreign trade debate,” by Miftah Ismail, published on November 23, 2023

The article delves into the ongoing debate in Pakistan regarding the optimal foreign trade strategy: export promotion or import substitution. While much of the world, especially Southeast Asia, has embraced export promotion successfully, Pakistan remains entangled in a confused approach, attempting both strategies simultaneously and reaping the disadvantages of each. Import substitution involves replacing imported goods with domestic production, exemplified by higher duties on imported cars in the 1980s. However, this approach has led to inefficiencies, high prices, and a small market. On the contrary, export promotion aims to make manufacturers prefer selling to foreign customers through policies favoring exporters. Despite offering similar incentives, Pakistan struggles to boost exports due to conflicting strategies that increase the overall cost of doing business. The article emphasizes the need to prioritize export promotion, diversify industries beyond textiles, and » Read More…