Daily Times

The United States of America. A friend for some and a foe for others! The US is home to hundreds of Multinationals that have operations and businesses all around the world. For those who continue to believe without any proper reading that the US is debt-ridden and will fall very soon, I would like to quote an example. Walmart, the biggest retailer in the world, in 2015 touted annual revenue of a whopping $485 billion. Whereas the budget for Pakistan with, more than 200 million people, reaches up to $38-43 billion. This Walmart is one of the many such examples. Others include ExxonMobil, Apple Inc., Google, etc. This example, for an intelligent mind, is enough to strike a contrast with the prevalent belief of the downfall of USA. After establishing this fact, I would like to come to the message that I want to convey. I want to forward a feeling, a passing thought, which I have decided to arrest by the stroke of my keyboards. I tend to present my views on, what I think, is the most neglected part of my country’s collective intelligence – economics.

In this resilient picture of one of the most developed nation, the drab third world countries shine like strobe lights. We are engaged into a self-proposed blame game – a self-initiated chain of destruction. A deliberate nescience. Not willing to peep into our own issues, we tend to rely on the crutches of mud-slinging and accusations. We tend to cover our misgivings in the guise of ‘external influences’. But no one is willing to mend oneself.

I can easily see the habit of making excuses from the time of our school assignments and university projects translate into negligence and procrastination in our national issues as well. There are costs to such shortcomings. Costs that we pay almost every day. Costs we pay when we are projected as an ultra-nationalist and extremist nation in the world.

Here in our country, the most important and significant aspect of any country in the world is avoided daringly. Recently, in the USA there has been protests against the Trans-Pacific Partnership, and here in Pakistan, many of the businessmen do not even know about the trade deal that is going to affect our textile industry (the biggest contributor to our exports). Also, on the first Friday of every month, US Labor Department releases what is called ‘job report’ that tells the world about the number of jobs being added in the previous month. This is covered extensively all around the world as it has repercussions that range from dollar value to the price of gold. Another beautiful feature of their economy is that their business channels and programs are hugely popular among the people as they tend to create a relationship between every aspect of a country. And this ability to create relationships between various factors is the key to successful policy-making and its execution. They have huge ‘consultancy firms’ that employee the greatest minds in the country and from the globe. Thus, creating opportunities and developing a true picture of “a knowledge economy.”

There is a perilous paucity of economic acumen in our country. Few [very few] of the so-called business TV channels broadcasted in the least popular time slot are under-funded. Our talk shows always engaged in analysing political rhetoric and allegations but paying no heed to the industry, economy and trade of Pakistan. Yes, many will counter me by naming a few shows or few discussions. But even they, if they think, will agree that the due attention to the economy of Pakistan is not given. One can clearly see a blatant difference between the economic coverage of CNN and BBC and our domestic TV channels. If we can imitate foreign styles, take pride in using the English language, emulate shopping centres, malls, and “Black Friday,” then why we should not try to meet those standards as well.

Our country, except for SAFTA and SAARC, is part of no major FTA. And the magnitude of trade between these countries is known very well. Blame the regional conflicts for it. Here, we are bereft of the understanding and importance of ‘economic integration.’ From alleviating the likelihoods of war, creating jobs, lifting standards of living, and bolstering relationships, there is a plethora of examples at our disposal that manifest the fruits of this integration. Look at the US and Japan; once arch enemies now hold an asymmetrical alliance. The European Union, countries that once consisted of warring nations, now form the biggest trading bloc in the world. US and China, often termed as arch-rivals, both vying for the same position, share huge volumes of bilateral trade, and hence no one can dare to attack or wish ill for the other one. Why? Because of each serve as a market for the other and this interdependency, creates the air of harmony (though forcibly). Iran, which openly calls the US the devil, is now in the midst of thawing their relationships. Even though the hardliner IRI remains vehemently opposed to the Western values, they have decided to not to let these ideas hinder their way towards progress.

Why then we, if not all, but many, are engaged in arguments, discussions and debates which are of no use. Why cannot we, like the ancient Persian, Roman or Islamic Empires and focus, among other things, on economics? I think we can, but only if we want to. What do we need to do? Create economic ties, bolster them, and create positive vested interests with different countries so if some country ever thinks of infusing unrest in our country they have to think twice.

The writer is a student of International Relations with interest in International Political Economy. He can be reached at osamarizvi10@hotmail.com