Pakistan: Now or Never?
Perspectives on Pakistan
When the British left India in 1947, they bequeathed what was arguably a European notion of the nation state on a region for which the very concept was alien. I say ”arguably” because anything one writes about Partition or the nation state is open to dispute. And until the financial crisis, I relegated this argument to the realm of historians – a subject that interested me personally, but did not seem relevant today.
That was until I noticed a new debate bubbling up on the internet about the future of the nation state. Will it become more powerful as countries scramble to protect themselves from the financial crisis as George Friedman at Stratfor argues in this article? Or does the need for global solutions to the crisis sound a death knell for the nation state, as John Robb suggests here?
Let’s just suppose the paradigm has shifted and the 60-year-old model defined by the departing British colonial rulers is no longer valid. What does that mean for Pakistan and India? (more…)
After asking last month whether the media should be more positive about Pakistan – the comments on the whole seemed to suggest we should be, while not being blind to the risks– it was interesting to see that Malaysia’s top lender, Malayan Banking, had no such doubts.
Maybank said it had bought a 15 percent stake in Pakistan’s largest listed lender MCB Bank for $680 million, the largest banking acquisition into Pakistan, as it bet on a bright economic future despite the recent political turbulence. It said the acquisition would give it access to ”a high-growth and under-penetrated banking market with a large population”, and that it was confident about Pakistan’s political outlook.