Mansoor Dailami is the IMFs resident representative in Pakistan. In his recent article “Catching up in a multipolar world” he argues that Pakistan must develop a coherent foreign economic policy to catch up with other emerging market economies.
Mansoor argues that Pakistan’s current economic status should be viewed through the distance to success in terms of capital investment, policy reform, and state capability to engineer an accelerated process of economic catch up and leaping forward. Future success for Pakistan will depend on the capability to both reposition the domestic economy to meet global economic and political change and to minimize external economic vulnerability.
South-South trade will be increasingly dependent on transnational companies from Brazil, India, China, Malaysia and South Africa. Pakistan will need to nurture its ties to global economic powers if it is to catch up.