Thursday, July 29, 2021

Racial Slurs Hurled at Pakistani-American Doctor in a Public Hearing in St. Louis, Missouri

St. Louis County Health Director Dr. Faisal Khan, a Pakistani American, was subjected to racial abuse at a St. Louis County Council meeting, according to multiple media reports. He apparently got caught up in the middle of a fierce, angry debate on new mask mandates amid surging infections attributed to the Delta variant of the COVID19 virus that originated in India. The anti-mask crowd is particularly strong in Republican states that voted for former President Donald J. Trump.  

Dr. Faisal Khan


Dr. Khan was subjected to racial slurs and physically assaulted after defending a new mask mandate to combat COVID-19.  In response to the abuse, he raised his middle finger at a crowd gathered at a St. Louis County Council meeting, according to a Wednesday letter obtained by the St. Louis Post-Dispatch. “After being physically assaulted, called racial slurs and surrounded by an angry mob, I expressed my displeasure by using my middle finger toward an individual who had physically threatened me and called me racist slurs,” Khan wrote to Councilwoman Rita Heard Days who led the meeting.

“You asked us to stay home,” Rita Heard Days, the council chairwoman, told the director of the county’s public health department before voting to lift the mask mandate. “You asked us to put on masks. You asked us to stay six feet apart,” she said. “We have followed your orders, and yet we are still in a predicament. So something is not working.”  In an apparent reference to the rapid spread of the highly transmissible delta variant in the United States, Dr. Faisal Khan told her that the virus has changed.

While testifying, Dr. Khan said members of the crowd mocked his accent. As he left, Khan said he was shoulder-bumped, then surrounded by a crowd and called a racial slur. He also called out Councilman Tim Fitch for what Khan described as a xenophobic dog-whistle in asking Khan about his credentials. “Dr. Khan, we certainly have heard of your background before, but most here have not,” Fitch said during the meeting. “Can you tell us why you’re called Dr. Khan? Are you a physician in the United States?”

Dr. Faisal Khan is among thousands of Pakistani-American doctors who have been at the forefront of saving lives in the middle of the devastating COVID19 pandemic that has taken over half a million American lives so far. Among them is Dr. Syra MadadPakistani-American head of New York City’s Health and Hospitals System-wide Special Pathogens Program, who is featured in a 6-part Netflix documentary series "Pandemic: How to Prevent an Outbreak".
Pakistani-American doctors are the 3rd largest among foreign-educated doctors in America. Among the notable names of Pakistani-American doctors engaged in the fight against Covid-19 are: Dr. Saud Anwar in Connecticut, Dr. Gul Zaidi in New York and Dr. Umair Shah in Texas. Their work has received positive media coverage in recent weeks.

Dr. Saud Anwar, a Connecticut pulmonologist and state senator, came up with a ventilator splitter to deal with the shortages of life-saving equipment. Dr. Gul Zaidi, an acute-care pulmonologist in Long Island, was featured in a CBS 60 Minutes segment on how the doctors are dealing with unprecedented demands to save lives. Dr. Umair Shah was interviewed about his work by ABC TV affiliate in Houston, Texas.

Related Links:

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South Asia Investor Review

Ex US Treasury Sec Praises Pakistan's COVID Response

Pakistani-American Health Expert Featured in Netflix Documentary "Pandemic"

Pakistan is the 3rd Largest Source of Foreign Doctors in America

Van Jones on "Geniuses from Pakistan"

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Sunday, July 25, 2021

US Afghan Pullout: Any Spillover of Possible Afghan Civil War into Pakistan?

Many fear the return to civil war in Afghanistan after the US pull-out. Are these fears well-founded? If so, who will be the main combatants in such a civil war? The Afghan Taliban? Or notorious warlords of yesteryears like  Gulbuddin Hekmatyar, Ismael Khan, Abdur Rashid Dostum and progeny of Ahmad Shah Masood? Or terror groups like ISIS, TTP, ETIM, IMU, etc etc.? 


Can the Northern Alliance, made up mainly of Tajiks and Uzbeks, reconstitute itself? Who will back them? Will India back them? Russia, China and Iran are already seriously talking with the Afghan Taliban. 

Can the Afghan Taliban quickly prevail over other groups to stabilize Afghanistan? Will China and Russia help?

How's Pakistan's geo-economic pivot working out? Will Chinese investment in CPEC and Russian involvement in Karachi-Lahore gas pipeline help build Pakistan's geo-economic strategy? Will both of them help Pakistan if India attempts to disrupt these projects with covert attacks via proxies? 

How does the creation of US-led QUAD with Afghanistan, Pakistan and Uzbekistan help Pakistan's geo-strategic pivot? Will it help bring stability to Afghanistan? 

How's US-China technology war unfolding? Is the US succeeding in denying supply chain inputs to the Chinese semiconductor industry? 

Please watch this video for a discussion of the above questions:

https://youtu.be/EZuCLz6KzKE



Wednesday, July 21, 2021

Pakistan's Textile & Garment Exports Set New Record of $15.4 Billion in FY 2020-21

Pakistan's textile and garment exports jumped 22.94% to reach $15.4 billion in Fiscal Year 2020-21, according to data from Pakistan Bureau of Statistics.  At the same time, the country's technology exports surged 47% to set a new record of $2.12 billion for the last fiscal year that ended in June 2021. Pharmaceutical exports also saw 25.3% growth to $241 million in first 11months of FY 2021, indicating Pakistan's export diversification with higher value added goods and services. 

Pakistan Textile/Apparel Exports. Source: Arif Habib Ltd
Pakistan Textile Exports FY 2006-2021. Source: APTMA

Overall, Pakistan's exports of goods for fiscal 2020-21 rose 13.7% to $25.63 billion. The nation's service exports increased 9.2% to $5.93 billion in fiscal 2021. Combined exports of goods and services added up to $31.56 billion in July 2020 to June 2021 period. 

Pakistan Tech Exports. Source: Arif Habib Ltd. 


Imports grew 23.2%, much faster than exports as the economy recovered from the COVID-induced slump, widening the trade gap in the process. Energy demand drove imports of oil and gas to new highs. 

Pakistan Current Account Balance. Source: Arif Habib Ltd. 

During the last two fiscal years,  Karachi has accounted for 51% of Pakistan’s exports, Lahore came in 2nd with 18%, Faisalabad 3rd with 12% and Sialkot 4th with 8.5%. 

Pakistan's Exports by Cities. Source: FBR

Record inflow of nearly $30 billion in remittances from overseas Pakistanis helped reduce the current account deficit to $1.85 billion in FY 2020-21. It's down 58.4% from $4.45 billion in FY 2019-20. 

Overseas Pakistanis' remittances represent 10% of the country's gross domestic product (GDP). This money helps the nation cope with its perennial current account deficits. It also provides a lifeline for millions of Pakistani families who use the money to pay for food, education, healthcare and housing. This results in an increase in stimulus spending that has a multiplier effect in terms of employment in service industries ranging from retail sales to restaurants and entertainment. 

Over 10 million Pakistanis are currently working/living overseas, according to the Bureau of Emigration. Before the COVID19 pandemic hit in 2020,  more than 600,000 Pakistanis left the country to work overseas in 2019. The average yearly outflow of Pakistani workers to OECD countries (mainly UK and US) and the Middle East has been over half a million in the last decade. 


Pakistan ranks 6th among the top worker remittance recipient countries in the world.  India and China rank first and second, followed by Mexico 3rd, the Philippines 4th, Egypt 5th and Pakistan 6th.  

Related Links:

Haq's Musings

South Asia Investor Review

Pakistan's Debt Crisis

Declining Investment Hurting Pakistan's Economic Growth

Brief History of Pakistan Economy 

Can Pakistan Avoid Recurring IMF Bailouts?

Pakistan is the 3rd Fastest Growing Trillion Dollar Economy

CPEC Financing: Is China Ripping Off Pakistan?

Information Tech Jobs Moving From India to Pakistan

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"Failed State" Pakistan Saw 22% Growth in Per Capita Income in Last 5 Years

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Riaz Haq's YouTube Channel

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Monday, July 19, 2021

Modi Government Planted Spyware in Pakistani Prime Minister Imran Khan's Smartphone

Pakistani Prime Minister Imran Khan has been the target of the Modi government's cyber attacks, according to a recently released Project Pegasus report.  The Indian government has neither confirmed nor denied the report.  The focus of the report is the use of the Israeli-made spyware by about  a dozen governments to target politicians, journalists and activists. The users of the Pegasus software include governments of  Bahrain, Morocco, Saudi Arabia, India, Mexico, Hungary, Azerbaijan, Togo and Rwanda.    

This is not the first time that Pakistan has figured prominently as India's favorite target for cyber hacks. Last year, a report in The Sunday Guardian of India said: "Mobile phones of around 30 Pakistani government servants, who include serving army generals, officials attached with the ISI and senior bureaucrats, were hacked into by using Pegasus spying software during April and May 2019". 

In addition to the use of spyware, the Indian government has been engaged in a massive, long-running disinformation campaign targeting Pakistan. EU Disinfo Lab, an NGO that specializes in disinformation campaigns, has found that India is carrying out a massive 15-year-long disinformation campaign to hurt Pakistan. The key objective of the Indian campaign as reported in "Indian Chronicles" is as follows: "The creation of fake media in Brussels, Geneva and across the world and/or the repackaging and dissemination via ANI and obscure local media networks – at least in 97 countries – to multiply the repetition of online negative content about countries in conflict with India, in particular Pakistan".  After the disclosure of India's anti-Pakistan propaganda campaign, Washington-based US analyst Michael Kugelman tweeted: "The scale and duration of the EU/UN-centered Indian disinformation campaign exposed by @DisinfoEU is staggering. Imagine how the world would be reacting if this were, say, a Russian or Chinese operation".  

Pegasus Spyware Explained. Source: The Guardian 


Pegasus is spying software made by NSO Group, an Israeli company whose exports are regulated and controlled by the Israeli government. It uses several different messaging apps to plant itself in mobile phones. Last year, Apple issued a warning to its customers of a "zero-click" version of the Pegasus software. It does not require the phone user to click on any links or messages for the spyware to take control of the device. Once installed, it can read and export any information or extract any file from SMS messages, address books, call history, calendars, emails and internet browsing histories.   

The Israeli spyware will likely inspire other software developers elsewhere to copy and improve it, contributing to a proliferation of such hacking and spying tools around the world. The governments and officials who use it to target others will eventually become targets themselves, unless the nations of the world agree to some norms of internationally accepted cyber behavior. It's high time to think about it. 


Tuesday, July 13, 2021

Pakistan's Demographic Dividend: Record Remittances From Overseas Workers

Pakistan has received nearly $30 billion in worker remittances in fiscal year 2020-21, according to the State Bank of Pakistan. This is a new record representing about 10% of the country's gross domestic product (GDP). This money helps the nation cope with its perennial current account deficits. It also provides a lifeline for millions of Pakistani families who use the money to pay for food, education, healthcare and housing. This results in an increase in stimulus spending that has a multiplier effect in terms of employment in service industries ranging from retail sales to restaurants and entertainment. 

Overseas Pakistani Workers' Remittances. Source: Arif Habib

Pakistan's share of working age population (15-64 years) is growing as the country's birth rate declines, a phenomenon called demographic dividend. This dividend is manifesting itself in high levels of worker exports and record remittances pouring into the country. Saudi Arabia and the United Arab Emirates(UAE) are the top two sources of remittances but the biggest increase (58%) in remittances is seen this year from Pakistanis in the next two sources: the United Kingdom and the United States. 

Pakistani Workers Going Overseas. Source: Bureau of Emigration



Over 10 million Pakistanis are currently working/living overseas, according to the Bureau of Emigration. Before the COVID19 pandemic hit in 2020,  more than 600,000 Pakistanis left the country to work overseas in 2019. The average yearly outflow of Pakistani workers to OECD countries (mainly UK and US) and the Middle East has been over half a million in the last decade. 

Pakistan ranks 6th among the top worker remittance recipient countries in the world.  India and China rank first and second, followed by Mexico 3rd, the Philippines 4th, Egypt 5th and Pakistan 6th.  

Pakistan Demographics

About two million Pakistanis are entering the workforce every year. The share of the working age population in Pakistan is increasing while the birth rate is declining. This phenomenon, known as demographic dividend, is coinciding with declines in working age populations in developed countries. It is creating an opportunity for over half a million Pakistani workers to migrate and work overseas, and send home record remittances. 

Projected Population Decline in Emerging Economies. Source: Nikkei Asia




Saturday, July 10, 2021

Lina Khan: Pakistani-American Law Professor Behind Biden's Pro-competition Executive Order

US President Joseph R. Biden  has signed a sweeping executive order to promote competition in a wide range of industries from big tech to telecommunications, transportation, banking and healthcare. This order has come within weeks of the appointment of young Pakistani-American law professor Lina Khan as the United States Federal Trade Commission (FTC) chairperson. Lina Khan, 32, is the youngest FTC chairperson in American history. She now holds one of the most powerful positions in the US government. 

Biden Handing Pen to Lina Khan After Signing Executive Order


Biden's executive order includes 72 initiatives for federal agencies, targeting issues such as excessive early termination fees charged by internet companies, which hinder users from switching service providers. It calls for the end of noncompete agreements that block workers from moving to rival employers, according to Nikkei Asia.  “Capitalism without competition isn’t capitalism. It’s exploitation,” Mr. Biden said before signing the order. “Without healthy competition, big players can change and charge whatever they want, and treat you however they want. And for too many Americans that means accepting a bad deal for things that you can’t go without.”

Lina's 2017 seminal paper entitled "Amazon's Anti-trust Paradox" broke new ground in the application of anti-trust law against powerful technology monopolies like Amazon, Apple, Facebook, Google and Twitter. Traditionally, the US anti-trust actions have been focused on keeping consumer prices low. This narrow focus has helped big technology companies companies like Amazon, with its low prices, or Google and Facebook with their “free” services, to avoid anti-trust scrutiny.   

Lina was born in London in 1989 to Pakistani parents who migrated to the United States when she was 11. She graduated from Williams College with a BA degree and then studied law at Yale University. She is now an associate professor at Columbia Law School in New York City. 

Anti-Trust Scholar Lina Khan


US tech companies are facing increasing scrutiny in Washington over their growing size and power.  In October 2019, an investigation by the House Judiciary Committee issued a 449-page report. It accused the big technology companies of charging high fees, forcing smaller customers into unfavorable contracts and of using "killer acquisitions" to constrain competitors. "To put it simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons," it said. The appointment of Lina Khan as FTC commissioner sends a clear signal to the US tech giants that the Biden administration means business. 

Lina Khan acknowledges the popularity of the convenience and the free services offered by the large technology giants like Amazon, Facebook and Google but she worries about the longer-term implications of their anti-competitive behavior. “As consumers, as users, we love these tech companies,” she said. “But as citizens, as workers, and as entrepreneurs, we recognize that their power is troubling. We need a new framework, a new vocabulary for how to assess and address their dominance", she told the New York Times.     

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Pakistani-Americans: Young, Well-educated and Prosperous

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Pakistani-American's Game-Changing Vision 



Biden Handing Pen to Lina Khan After Signing Executive Order

Biden's executive order includes 72 initiatives for federal agencies, targeting issues such as excessive early termination fees charged by internet companies, which hinder users from switching service providers. It calls for the end of noncompete agreements that block workers from moving to rival employers, according to Nikkei Asia.  “Capitalism without competition isn’t capitalism. It’s exploitation,” Mr. Biden said before signing the order. “Without healthy competition, big players can change and charge whatever they want, and treat you however they want. And for too many Americans that means accepting a bad deal for things that you can’t go without.”

Lina's 2017 seminal paper entitled "Amazon's Anti-trust Paradox" broke new ground in the application of anti-trust law against powerful technology monopolies like Amazon, Apple, Facebook, Google and Twitter. Traditionally, the US anti-trust actions have been focused on keeping consumer prices low. This narrow focus has helped big technology companies companies like Amazon, with its low prices, or Google and Facebook with their “free” services, to avoid anti-trust scrutiny.   

Lina was born in London in 1989 to Pakistani parents who migrated to the United States when she was 11. She graduated from Williams College with a BA degree and then studied law at Yale University. She is now an associate professor at Columbia Law School in New York City. 

Anti-Trust Scholar Lina Khan


US tech companies are facing increasing scrutiny in Washington over their growing size and power.  In October 2019, an investigation by the House Judiciary Committee issued a 449-page report. It accused the big technology companies of charging high fees, forcing smaller customers into unfavorable contracts and of using "killer acquisitions" to constrain competitors. "To put it simply, companies that once were scrappy, underdog startups that challenged the status quo have become the kinds of monopolies we last saw in the era of oil barons and railroad tycoons," it said. The appointment of Lina Khan as FTC commissioner sends a clear signal to the US tech giants that the Biden administration means business. 

Lina Khan acknowledges the popularity of the convenience and the free services offered by the large technology giants like Amazon, Facebook and Google but she worries about the longer-term implications of their anti-competitive behavior. “As consumers, as users, we love these tech companies,” she said. “But as citizens, as workers, and as entrepreneurs, we recognize that their power is troubling. We need a new framework, a new vocabulary for how to assess and address their dominance", she told the New York Times.     

Related Links:


Haq's Musings

New York's Little Pakistan

Pakistan is the 3rd Largest Source of Foreign Doctors in America

Pakistani-Americans: Young, Well-educated and Prosperous

Pakistani-American Population Growth 2nd Fastest Among Asian-Americans

Silicon Valley Pakistani-Americans

A Dozen British Pakistanis in UK Pariament

Obama Honors Pakistani-American Doctor With Top Technology Award

OPEN Silicon Valley Forum 2017: Pakistani Entrepreneurs Conference

Pakistani-American's Tech Unicorn Files For IPO at $1.6 Billion Valuation

Pakistani-American Cofounders Sell Startup to Cisco for $610 million

Pakistani Brothers Spawned $20 Billion Security Software Industry

Pakistani-American Ashar Aziz's Fireeye Goes Public

Pakistani-American Pioneered 3D Technology in Orthodontics

Pakistani-Americans Enabling 2nd Machine Revolution

Pakistani-American Shahid Khan Richest South Asian in America

Two Pakistani-American Silicon Valley Techs Among Top 5 VC Deals

Pakistani-American's Game-Changing Vision 



Thursday, July 8, 2021

Pew Research: Two-thirds of Hindus Say Only Hindus "Truly Indian"

A recent Pew survey in India has found that 64% of Hindus see their religious identity and Indian national identity as closely intertwined. Most Hindus (59%) also link Indian identity with being able to speak Hindi language. The survey was conducted over two years in 2019 and 2020 by Pew Research Center. It included 29,000 Indians.  

Prime Minister Narendra Modi's Hindu Nationalist BJP party's appeal is the greatest among Hindus who closely associate their religious identity and the Hindi language with being “truly Indian.” The Pew survey found that less than half of Indians (46%) favored democracy as best suited to solve the country’s problems. Two percent more (48%) preferred a strong leader. 

Most Hindus Link Hindu Religion and Hindi Language With Indian National Identity. Source: Pew


The majority of Hindus see themselves as very different from Muslims (66%), and most Muslims return the sentiment, saying they are very different from Hindus (64%). Most Muslims across the country (65%), along with an identical share of Hindus (65%), see communal violence in India as a very big national problem. Like Hindus, Muslims prefer to live religiously segregated lives – not just when it comes to marriage and friendships, but also in some elements of public life. In particular, three-quarters of Muslims in India (74%) support having access to the existing system of Islamic courts, which handle family disputes (such as inheritance or divorce cases), in addition to the secular court system.     

Most Hindus (59%) also link Indian identity with being able to speak Hindi – one of dozens of languages that are widely spoken in India. And these two dimensions of national identity – being able to speak Hindi and being a Hindu – are closely connected. Among Hindus who say it is very important to be Hindu to be truly Indian, fully 80% also say it is very important to speak Hindi to be truly Indian.    

Prime Minister Narendra Modi's Hindu Nationalist BJP party's appeal is the greatest among Hindus who closely associate their religious identity and the Hindi language with being “truly Indian.” In the 2019 national elections, 60% of Hindu voters who think it is very important to be Hindu and to speak Hindi to be truly Indian cast their vote for the BJP, compared with only a third among Hindu voters who feel less strongly about both these aspects of national identity.

The findings of this Pew survey confirm how prescient Pakistan's founder Quaid-e-Azam Mohammad Jinnah was. He saw the coming of Modi's Hindu Rashtra as far back as mid-1930s. It arose from the majoritarian tyranny of the Hindu-dominated Indian National Congress after 1937 elections in India. Speaking in Lucknow in October 1937, Quaid-e-Azam Mohammad Ali Jinnah said the following: 

"The present leadership of the Congress, especially during the last ten years, has been responsible for alienating the Musalmans of lndia more and more, by pursuing a policy which is exclusively Hindu; and since they have formed the Governments in six provinces where they are in a majority they have by their words, deeds, and programme shown more and more that the Musalmans cannot expect any justice or fair play at their hands. Whenever they are in majority and wherever it suited them, they refused to co-operate with the Muslim League Parties and demanded unconditional surrender and signing of their pledges."

Sunday, July 4, 2021

Economist Normalcy Index: Pakistan Among Best Performing Countries For Handling COVID19

With a score of 84.4, Pakistan ranks third among 50 countries tracked by the Economist magazine for return to pre-pandemic life. Pakistan's neighbor India has a score of 46.5, ranking it near the bottom in 48th position.  China (score 72.9) is 19th, United States (72.8) 20th, United Arab Emirates (68.9) 27th and United Kingdom (62.5) 36th. The global average for return to pre-pandemic activity is 66.6 on a scale of 0 to 100. 

Top Performing Countries For Return to Pre-Pandemic Activity Level. Source: Economist

Economist's Global Normalcy Index:

The Economist magazine is tracking 50 countries for return to pre-pandemic activity level. Here is how it  explains it:

"The global normalcy index plummeted in March 2020 as many countries imposed draconian restrictions on their citizens. It fell to just 35 in April 2020, before improving gradually over the following months. Today it stands at 66, suggesting that the world has travelled roughly half of the way back to pre-pandemic life. Some indicators, such as traffic congestion and time spent outside, have recovered faster than others, particularly sports attendance and flights. The global average masks a lot of variation across countries. Click on the drop-down box to explore how behavior has changed in each one". 


Best Performing Countries:

The top 10 best performing countries or territories on the Economist Normalcy Index are Hong Kong (96.3/100), New Zealand (87.8), Pakistan (84,4), Nigeria (84.1), Ukraine (83.6), Romania (82.1), Denmark (81.3), Egypt (81.2), Israel (80.4) and Mexico (80.2). The global average for return to pre-pandemic activity is 66.6 on a scale of 0 to 100. 

 Worst Performing Countries For Return to Pre-Pandemic Activity Level. Source: Economist


Worst Performing Countries:

The worst performing countries from the bottom are Malaysia (score 27.3/100) at number 50, Taiwan (43.7) at 49, India (46.5) at 48, Chile (51.1) at 47, Vietnam (51.3) at 46, Argentina (52.9) at 45, Philippines (55.5) at 44, Singapore (55.5) at 43, Peru (56.1) at 42, Thailand (57.8) at 41 and Indonesia (58.3) at 40. 

COVID Test Positivity Rate in Pakistan. Source: Our World in Data 




COVID Positivity Rate:

Timely actions by Pakistan National Command Operations Center (NCOC) have helped control the third COVID19 wave in the country. With nearly 50,000 daily tests, the positivity rate has dropped to around 2% in the most recent week.  This has been accomplished in spite of the fact that the vaccination rate in Pakistan is still quite low. 

Normalcy Index vs Vaccination Rates. Source: Economist

Summary:

The Economist magazine normalcy index has ranked Pakistan among the top 5 countries for return to pre-pandemic activity level.The latest COVID positivity rate is just over 2% in spite of the fact that the vaccination rates are still very low. With a score of 84.4, Pakistan ranks third among 50 countries tracked by the Economist magazine for return to pre-pandemic life. Pakistan's neighbor India has a score of 46.5, ranking it near the bottom in 48th position.  China (score 72.9) is 19th, United States (72.8) 20th, United Arab Emirates (68.9) 27th and United Kingdom (62.5) 36th The global average for return to pre-pandemic activity is 66.6 on a scale of 0 to 100.

Related Links:

Haq's Musings

South Asia Investor Review

COVID19 in Pakistan: Test Positivity Rate and Deaths Declining

Fareed Zakaria Never Misses Any Opportunity to Bash Pakistan

Retired Justice Markanday Katju on Modi's India

Lynchistan: India is the Lynching Capital of the World

73 Year After Independence, Caste-Ridden India Dominated By Brahmins

Pakistan's Pharma Industry Among World's Fastest Growing

Is Pakistan's Response to COVID19 Flawed?

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Pakistani-American Woman Featured in Netflix Documentary "Pandemic"

Coronavirus Antibodies Testing in Pakistan

Can Pakistan Effectively Respond to Coronavirus Outbreak? 

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Pakistan Fares Marginally Better Than India On Disease Burdens

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Democracy vs Dictatorship in Pakistan

Pakistan Child Health Indicators

Pakistan's Balance of Payments Crisis

Panama Leaks in Pakistan

Conspiracy Theories About Pakistan Elections"

PTI Triumphs Over Corrupt Dynastic Political Parties

Strikingly Similar Narratives of Donald Trump and Nawaz Sharif

Nawaz Sharif's Report Card

Riaz Haq's Youtube Channel


Friday, July 2, 2021

CCP Centennial: The Chinese Economic Miracle

The Chinese Communist Party (CCP) was founded one hundred years ago on July 1, 1921. The party has transformed China from a poor and backward third world country into a vibrant and prosperous industrialized economy. This rapid historic transformation has surprised everyone, including China's friends, but especially its western foes who now see the emergence of the Asian giant as a challenge to centuries-long western domination of the world. It has also earned the CCP high levels of performance legitimacy and popularity among the Chinese people. The CCP's successful response to the COVID crisis has further boosted its legitimacy and popularity in China. 

China Surpassed United States in Global Trade


Chinese Economy:

Over the last several decades, China has built a strong manufacturing base to serve as the factory to the world. This efficient industrial base is being used by all major global brand-name multi-national giants to manufacture and supply everything from Barbie dolls to iPhones. It has served as a powerful engine to drive the Chinese economy which now rivals the US economy in size. China's GDP overtook the U.S.'s in 2017 in terms of purchasing power parity, according to Nomura Securities. China has eclipsed the United States as the world's largest trading nation.

Japanese Government Projection of Future GDP Trajectories. Source: Nikkei Asia


China's Economy Slowing:

There's some evidence that China's economy is slowing after hitting a peak growth in the last decade, according to Forbes magazine.  It may sound like wishful thinking but the American magazine argues that "China’s growth has slowed in recent years, partly due to maturity. Extremely poor countries have the potential to grow rapidly. As they approach the level of developed countries, growth is harder and thus slows".  

China Economy Slowing. Source: Forbes

Digital Economy:

The United States is far ahead of China in global digital economy. But the US-China battle for future dominance of this economy is now underway. The winner of this contest will dominate the next phase of global economic competition. It will be determined by achieving mastery of computer chips and software needed to build complex systems. 

The United States and its ally Taiwan are far ahead of all other nations in building the most advanced 5 nanometer semiconductor components. But China is gearing up for it. Chinese leader Xi Jinping has appointed Liu He, his most trusted lieutenant, as the "chip czar" to lead this effort as a top national priority. 

Technology firms today make up a quarter of the global stock market and the geographic mix has become strikingly lopsided, according to The Economist magazine. America and, increasingly, China are ascendant, accounting for 76 of the world’s 100 most valuable firms. Europe’s tally has fallen from 41 in 2000 to 15 today.


China's Research Spending. Source: Nature 


Fortune Global 500: 

Until 2019, the United States had more Fortune 500 companies than any other country. In 2020, China surpassed the US.  China had 124 companies, higher than 121 US companies. This is indeed very impressive given that there were only ten Fortune 500 companies in China in 2000. In 2021, the number of top world companies ranked by revenue grew by eleven in China, while in the U.S. there was only one company more than in 2020.

Locations of Global 500 Companies. Source: Fortune Magazine




Performance Legitimacy:

The failure of  western-style "democracy" to handle the COVID crisis has raised serious questions about its legitimacy. Countries from the United States and the United Kingdom to Brazil and India miserably failed to prevent millions of deaths from the coronavirus pandemic. On the other hand,  the Communist Party in "authoritarian" China has done a remarkable job of protecting its people from the dreaded virus. 

A recent post-COVID survey conducted by the Washington Post shows that Chinese citizens’ trust in their national government has jumped to 98%. Their trust in local government also increased compared to 2018 levels — 91% of Chinese citizens surveyed now said they trust or trust completely the township-level government. Trust levels rose to 93% at the county level, 94% at the city level and 95% at the provincial level. 

An earlier 2018 World Values Survey reported that 95% of Chinese citizens said that they have a great deal or quite a lot of trust in national government. Comparatively, about 69% felt the same way about their local government. 

The Chinese Communist Party (CCP) has demonstrated that the western style elections and democracy are not the only means to earn legitimacy in the eyes of the people. It has shown that it is far better to deliver results to earn "performance legitimacy". 




Summary:

As the Chinese Communist Party (CCP) celebrates its centenary, independent surveys indicate that the party has achieved well-deserved performance legitimacy in the eyes of the Chinese people. Over 90% of those surveyed have expressed strong approval of the Party's rule. The CCP has transformed China from a poor and backward third world country into a vibrant and prosperous industrialized economy. 

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