Second, the EIC was enticed by the fabled riches, wealth, and resources of this region. In other words, the subcontinent was by far more prosperous than the EIC. In case of China and Pakistan, the story is the other way around. As an economic power, China is second only to the United States and sits on the largest foreign exchange reserves in the world (
$3.20 trillion). With Beijing’s deep pockets and passion for spending, economic ties with China are even prized by the wealthy countries of the West like Britain and Germany. On the other hand, Pakistan presents little, if any, economic attraction for foreign investments. Uncongenial security conditions, failing state institutions, and corruption are some of the many maladies that have dogged Pakistan and dissuaded others from investing in this country. Perhaps no other country would dare take the risk of investing so much money in Pakistan as China has ventured. Pakistan needs China more than the other way around.