Held this year in Delhi, the G20 summit holds economic and political significance in reshaping the world order. The summit saw an expansion of the African Union. However, both China and Russia did not participate in the summit. It also saw India and the US seizing an opportunity to lay down the conceptual underpinnings of what might be an alternative to China’s Belt and Road Initiative: a new economic corridor.
China has seized the opportunity to assert its presence in the Middle East to reshape the regional dynamics amidst a shift in the United States’ policy focus from the Middle East to the Indo-Pacific region under the Biden administration. Recent events like the Saudi-Iran agreement and the admission of some Middle Eastern nations in the BRICS bloc demonstrate China’s varied interests in the region, which range from conventional energy requirements to economic and geopolitical worries.
The China-Myanmar Economic Corridor (CMEC) is a strategic infrastructure project of China’s Belt and Road Initiative (BRI) aimed at connecting China with Myanmar’s major economic centers. CMEC was endorsed by Chinese President Xi Jinping during his visit to Myanmar in January 2020, marking the culmination of China’s efforts to reconstitute Sino-Myanmar relations after Myanmar’s democratic transition.
Faryal Khan discusses pakistan’s external debt and liabilities, proposing measures for the country’s economic recovery and growth. Drawing inspiration from successful examples and policies implemented by other countries, this article suggests policies such as improving the investment climate, reducing the cost of doing business, promoting renewable energy, and implementing microfinance policies. By adopting these policies, Pakistan can create a favourable business environment, attract more investment, and ultimately boost its economy. This proposed roadmap aims to help Pakistan transition from a debt burden to a path of economic growth and prosperity.
Known for its presence in over 50 countries, the Bank of China first established a branch in Pakistan in 1942. Now, after 80 years, on the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), a branch of the bank was inaugurated in Pakistan’s capital, Islamabad, solidifying economic cooperation between the two nations. This branch’s inauguration signifies a commitment to enhancing infrastructure development, trade, and bilateral ties, further strengthening the historical bond between China and Pakistan.
Yashfa Ahsan reflects on Pakistan’s intricate position amid the Sino-US rivalry. The South Asian state’s strategic location demands a multifaceted and balanced approach in its foreign policy and international relations. The author acknowledges the implications of India and the US’s engagement in the Indian Ocean Region for Pakistan’s security and economy. Bearing this in mind, she emphasizes that, with key players like India, Iran, and Afghanistan drawn into this rivalry, Pakistan must establish itself as a reliable economic and strategic partner for the states involved.
In a remarkable testament to the strong and enduring ties between China and Pakistan, Chinese Vice Premier He Lifeng was recently honored with the prestigious Hilal-i-Pakistan Award. This distinguished recognition serves as a symbol of the deep-rooted friendship and diplomatic collaborations between the two nations.
It’s been a decade since the inauguration of the China-Pakistan Economic Corridor (CPEC), a $50 billion project under the Belt and Road Initiative (BRI). While many believe that the project has failed in many respects, Ayesha Shaikh shares what it is and what it isn’t.
BRICS, a group comprising the world’s strongest economies, has been overlooked in the past. However, today, it has emerged on the global political stage as a formidable force. Aqsa Shaukat assesses the changing dynamics of BRICS to determine whether it will pose a threat to the established Western political order. From introducing its own currency to welcoming new members, the group is now on its way to achieving independence from Western influence.
A disastrous tsunami followed the 2011 earthquake in Japan, causing disruption to the reactors at the Fukushima nuclear plant site. As a consequence, there was a release of radioactive material. Japan has now decided to release treated radioactive water into the Pacific, but China, South Korea, and the Pacific Island nations are opposing the discharge of the Fukushima water.
Sibra Waseem asserts that the US interest rate rise, monetary policy, and geopolitical tensions on global trade prices have fed the move for a BRICS currency. Where approximately 88% of worldwide commerce is currently handled in US dollars and accounts for 58% of global foreign exchange reserves, the BRICS currency would certainly shift the tides of geoeconomics. She, however, notes that the possibility of a BRICS currrency is marred by tensions between states comprising the powerful bloc.
“Monsoon: The Indian Ocean and the Future of American Power” by Robert Kaplan is a captivating exploration of the geopolitics, history, and culture of the Indian Ocean. Published in 2010, the book seamlessly weaves together Kaplan’s personal travel experiences with strategic analysis and geopolitical insights. The title cleverly draws parallels between the region’s unpredictability and the monsoon, underscoring its significance in global power dynamics. Overall, it serves as a concise guide to understanding the past, present, and future of this crucial region
Maidah Tariq explains that China’s journey to becoming a modern state began with the fall of the Qing Dynasty in 1911. After a civil war, the Communist Party, led by Mao Zedong, emerged victorious and formed the People’s Republic of China in 1949. Mao’s economic policies faced challenges, but Deng Xiaoping introduced reforms in the 1990s that led to massive economic growth. These reforms included incentives for workers, encouraging private farming, promoting township and village enterprises, and focusing on education. She concludes that China’s integration with the global economy through exports and foreign investments has made it an economic giant and a major player on the world stage.
Türkiye has been on a mission to reclaim its previous glory under the leadership of Recep Tayyip Erdogan. Erdogan’s unwavering support for international Muslims, as well as his criticism of US policies, have thrust him into the center of international discourse. Despite the polarized public opinion, Türkiye has improved its military capabilities and emerged as a significant player in the weapons market, contributing to its growing global dominance. Much to the chagrin of the United States, it has formed strategic relationships with countries such as Russia and China, diversifying its alliances and impacting regional dynamics.
Explore the incredible narrative of China’s remarkable ascent to becoming a dominant global economic force in this engaging video. Join us as we dive into the historical, political, and socioeconomic factors that have propelled China from its humble origins to a position of unrivaled economic influence.
The July 2023 edition of the Paradigm Shift magazine contains 13 handpicked pieces. These cover the French riots, the geopolitcial significance of China’s digital Silk Road, the micro hyrdopower projects as a solution to Pakistan’s energy crisis, and the comparison of the PMS and CSS exams. The July edition features two infographics: one featuring the top 10 countries in military spending, and the independence dates of the former Soviet republics. This edition also has a book review, an op-ed, two PU pieces, and an interview of Brigadier (R) Samson Simon Sharaf.
Fatimah Naeem delves into the tumultuous era of Zulfikar Ali Bhutto’s leadership in Pakistan and the profound impact it had on the country’s foreign policy. With a vision of assertive diplomacy, Bhutto navigated a complex geopolitical landscape, facing both formidable challenges and remarkable triumphs. From his ambitious pursuit of nuclear capability to the redefinition of Pakistan’s role in the Muslim World, the author explores the changes in Pakistan’s relations with its neighbors and the US.