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Possible alternatives for Pakistan to channel foreign aid

By Ali Salman, Originally published in The Express Tribune, September 19th, 2016. The West has spent $2.3 trillion on foreign aid over the last five decades and has not managed to “get 12-cent medicines to children to prevent half of all malaria deaths, or $3 to each new mother to prevent 5 million child deaths,” writes William Easterly, the author of “The White Man’s Burden: How the West’s Efforts to Aid the Rest Have Done So Much Ill and So Little Good”. Easterly believes that economic development comes, not through aid, but through home-grown efforts of entrepreneurs and social and political reformers. It could also be added that strengthening of the civil society also helps in economic development. Criticisms on […]

Secular capitalism: de-facto game in the global village

By Zia Banday, Originally published in The Express Tribune, September 26th, 2016. The United Arab Emirates (UAE), with a population of 5 million, is 20 times less populous than Pakistan. However, the country has made its mark in international trade. As per Comtrade figures, UAE’s exports have risen 51% from $253 billion in 2011 to $380 billion in 2014, whereas its imports registered a growth of 42% from $211 billion in 2011 to $299 billion in 2014. An item of interest among UAE imports, which has registered phenomenal growth, is alcoholic drinks. UAE’s imports of alcoholic drinks have increased 4.5 times from $175 million in 2011 to $786 million in 2014. The country is annually attracting 25 million tourists, a number […]

Chinese lack interest in joint ventures in Pakistan’s textile industry

By Zia Banday, Originally published in The Express Tribune, September 5th, 2016. On June 20, 2016, the China Association of Small and Medium Enterprises (CASME) officially launched a textile-focused industrial park to be built near Ahmedabad in the Gujarat province of India.  Phase-I of this $1-billion industrial park is expected to be completed by the end of 2017. More than 100 Chinese enterprises have shown their willingness to invest in the park. Vietnam has also become a hot investment destination for Chinese textile companies, which are pouring millions of dollars for establishing manufacturing facilities there. Texhong, a large Chinese textile group, has four production bases in Vietnam, which are churning out 300,000 tons of textiles each year and make up […]

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