Political Turmoil and Strained Ties with the West: A Double Whammy for Pakistan’s Economy
Apart from Pakistan’s army and opposition political outfits, the business lobbies in Pakistan have been flagging the point that strained ties with the US and the EU will have an adverse impact on Pakistan’s economy. While the Pakistan Army Chief, Gen. Qamar Javed Bajwa, had alluded to the importance of Pakistan’s ties with the US in his address on April 2, 2022, Pakistan’s business has expressed its apprehensions with regard to the current political situation and the potential souring of ties with the West, in general, and the US, in particular. The current economic crisis in Sri Lanka also underscores the pitfalls of being excessively dependent upon China and the need for an astute foreign policy.
