Pakistan could well be getting a mammoth $5 billion worth of foreign investments every year for the next ten years. Even the thought of it is mouth watering and its application can do wonders for the country. Guess who is willing to invest such huge amount in Pakistan - US? No, UK? No. It is China.
Pakistans dear old friend, China has shown interest in developing an industrial city complex with hospitals and schools. Nothing impedes the countrys economic growth more than the poor condition of our health and education sectors - a massive investment in these sectors can sow the seeds of an economic turnaround in Pakistans fortune.
Moreover, the said investment will not only create thousands of jobs but will also transfer knowledge and expertise for which the Chinese are renowned the world over.
What is rather important and fortunate is the fact that the Chinese, unlike the North American and other Western lenders are focused on real investments that can be seen on the ground by one and all. It will not go through the government channels, eliminating any concerns of the money going to fill the budgetary deficits or being a victim of the corruption within the system.
As the Chinese proverb goes, "Give a man a fish and you feed him for a day, teach him how to fish and you feed him for life". Perhaps that is why China rejected Pakistans call for aid offering to develop special economic zones, instead they will do it on their own and arguably better than us.
Working closely with China is inevitable for the future of Pakistan, given its geographical proximity. China has invested heavily in the development of Gwadar port on, besides showing interest in the winterization and the expansion of Karakoram highway. Moreover, in Lahore, the first of the ten proposed special economic zones is already in the works.
The debate whether China will play the lead role at the world stage was decisively concluded many years ago. The Chinese model is different from the broken aid bowl of the West as instead of handing out loans to public offices tainted with corruption, China seeks to develop infrastructure by investing in the private sector.
Public sentiment against our traditional western allies is worsening by the day. Countless aid packages that hinge on specific political and military conditions are cited as the cause of Pakistans fragile economic and political condition.
Kerry Lugar Bill is one prime example, which provoked a barrage of heavy criticism from the public and the amount offered as loan was just $1.5 billion dollar annually - compared to the Chinas investment offer.
Having said that, it is not all that rosy as it seems. Chinese investors are now shopping around the world. Provisions of a stable consistent political system and adequate safety to Chinese executives are imperative, if Pakistan wants to secure their investment dollars.
And that, many believe, could only be achieved if we tilt ourselves towards the big red dragon, away from the tried and tested Western world.
The centre of gravity for the world of economy is fast moving eastward. But decision makers in Pakistan don seem to be paying much attention to this trend. Our call for help is still focused on the West. It is high time that we reassess our strategic alliances and realize that our future should have a reddish stroke.
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