China's Belt and Road Initiative (BRI) and its flagship China-Pakistan Economic Corridor (CPEC) were the stars at Davos, not US President Donald Trump, according to a New York Times report. The geopolitical momentum lay with Beijing, not Washington, the report said. The forums on BRI and CPEC were among the best attended forums at the World Economic Forum 2018.
New York Times said "a senior Chinese diplomat helped introduce the prime minister of Pakistan at a breakfast meeting. Prime Minister Shahid Khaqan Abbasi used his talk to praise the rapidly expanding Chinese investments in his country, including to build power stations and a large port".
Inclusive Development Report:
More and more Pakistanis are sharing in their nation's development, according to World Economic Forum (WEF) report released in Davos. Pakistan ranks 47 among 74 emerging economies ranked for inclusive development by WEF released recently at Davos, Switzerland. Inclusive development in the South Asian country has increased 7.56% over the last 5 years. World Economic Forum assesses inclusive development based on "living standards, environmental sustainability and protection of future generations from further indebtedness."
BMI Research Report:
In another report posted on the World Economic Forum website, BMI Research said Pakistan is among the 10 emerging countries it expects to contribute the most to global growth over the next decade. It said Pakistan is one of the "10 emerging markets of the future" — the countries that are set to become new drivers of economic growth over the next 10 years. BMI estimates that these countries will cumulatively add $4.3 trillion to global GDP by 2025 — roughly the equivalent of Japan's current economy.
Here's an excerpt of the BMI Research report:
"Pakistan will develop as a manufacturing hub over the coming years, with the textile and automotive sectors posting the fastest growth at the beginning of our forecast period. Domestic manufacturing investment will be boosted by the windfall from lower energy prices compared to the last decade, and improved domestic energy supply."
Pakistan Prime Minister Shahid Khaqan Abbasi met a number of business leaders including WEF Chairman Klaus Schwab, Microsoft founder Bill Gates and CEOs of several energy and telecom companies on the sidelines of the conference.
In addition to Prime Minister Abbasi, several other prominent Pakistanis including Pakistan Peoples Party leader Bilawal Bhutto, youngest Nobel Laureate Malala Yousufzai and Heartfile CEO Dr. Sania Nishtar also spoke at a number of panel discussions at the World Economic Forum in Davos, Switzerland.
China's Belt and Road Initiative (BRI) and its flagship China-Pakistan Economic Corridor (CPEC) were the stars at Davos, not US President Donald Trump, according to a New York Times report. Pakistan Prime Minister Shahid Khaqan Abbasi's attendance at the World Economic Forum in Davos, Switzerland helped generate positive vibes about Pakistan among the government and business leaders attending the conference. Abbasi's presentation on CPEC drew a lot of attendees making it among the best attended sessions at Davos 2018.