Move away from agriculture, Chinese economist advises

Neo

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Move away from agriculture, Chinese economist advises

ISLAMABAD: Pakistan can double its annual economic growth rate to 10% by moving away from being an agriculture-based economy, and dying Chinese industries can become an instrument to achieve this objective, professor Justin Yifu Lin, a Counselor at the influential State Council of China, said on Tuesday.


Sectors where China is losing its competitive advantage can become Pakistan’s latent advantage, said the professor, also a former vice-president of the World Bank and author of 24 books. He said that light manufacturing industries that have been declared “sunset industries” in China can be relocated to Pakistan.

Boosting agriculture: Experts call for collaborative efforts

Pakistan has maintained a decent economic growth rate but it is still relatively poor, said professor Lin, while highlighting flaws of Pakistan’s economic structure and the way forward for the economy of 200 million people.

His economic development theory gives a centre stage to the government as a facilitator aimed at overcoming externality and coordination challenges during the transformation phase.

China will move from labour-intensive to capital-intensive industry and this will free 85 million jobs that will relocate to other countries, said the professor. “China’s upgrading to higher industries will leave a huge space for Pakistan to enter a labour-intensive industrialisation development phase”, he added.

“Poverty is not the destiny of Pakistan,” said Professor Lin while delivering a lecture on how to achieve dynamic growth at the Planning Commission.

“If Pakistan can capture this opportunity, it will be able to grow at 10% annually for 30 or more years and become a high middle income or even high income country,” said Professor Lin, one of China’s foremost economists.

Pakistan’s advantage

According to Pakistani thinkers, the country’s current economic structure is highly flawed, as more than half of the total national output is coming from the services sector that is not labour intensive.
Pakistan grew at 4.7% in the last fiscal year, which was not sufficient to create enough jobs to absorb the youth bulge. Its growth is job exclusive and has widened the gap between the rich and poor, according to independent economists.

The Chinese professor said that the two types of Chinese investments could come to Pakistan -infrastructure and export-oriented sectors. He said that Pakistan’s businesspersons could enter into joint ventures with Chinese partners.

The private sector of Pakistan has to change its mindset as days of protectionism are over, said Ahsan Iqbal, Federal Minister for Planning, Development and Reform. Iqbal said that if Pakistan remains unable to take advantage from 85 million dying jobs in China, these jobs would shift to other countries like Vietnam and Bangladesh.

Pakistan’s journey to success

Professor Lin suggested six steps for Pakistan to indentify sectors of latent competitive advantage. The first step is to find fast growing countries with up to 200% higher per capita income or about 30 years ago had similar per capita income. He said in 1979 China’s per capita income was 30% less than that of Pakistan but today Beijing’s per capita income was 550% more than of Pakistan.

He said that in the next step, the government should see if some private sector firms are already in these industries and should then facilitate them by removing constraints. In step three, the government should invite foreign firms to invest in sectors where the local firms are not working.

Problems riddle agriculture sector, say experts

In step four, the government should also pay attention to spontaneous self-discovery by private enterprises and give support to scale up successful private innovations in new industries.

In the second last step, Pakistan with poor infrastructure and bad business environment should set up special economic zones or industrial parks to overcome barriers to firm entry, attract foreign direct investment and encourage industrial clusters.

In the last step, the government may compensate pioneer firms identified above with tax incentive for a limited period, direct credits for investments and give access to foreign exchange.

The long-term development of China-Pakistan Economic Corridor also revolves around development of special economic zones.

Chinese industries willing to relocate to Pakistan provide excellent opportunity for Pakistan to grow at a faster pace, said Dr Ashfaque Hasan Khan, one of the leading economists of the country.

Use of new technologies to help reduce agri cost

Professor Lin said that for reducing transaction cost in the infrastructure sector Pakistan needs to improve customs, roads and rail networks. He also advised that the federal and provincial authorities should listen to the foreign investors in order to address their concerns.

Published in The Express Tribune, April 5th, 2017.

source: https://tribune.com.pk/story/1374408/move-away-agriculture-chinese-economist-advises/
 

Mikesingh

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Pak's GDP would grow to 10% annually? Wow! :pound:

If wishes were horses, beggars would ride!! :tongue:

Oh wait! Pak's senator Abidi recently said that with the CPEC, rivers of gold will flow in Pakistan!! Lol! These Pakis are sure living in a world of delusions!

Seriously, the Chinks are taking the Pakis for a jolly good ride!! As part of the CPEC, they have dumped their 11 old coal fired plants in Pakistan which will have an enormous affect on pollution. And they will be importing low grade coal from China at enormous cost to run these ramshackled plants! Now this Chinese economist wants Pak to buy all their discarded manufacturing equipment too at the cost of agriculture! Lol!

But that's a blessing in disguise for India as the Pakis would be importing all their agri products from India. We already have a trade surplus with Pak to the tune of $1.2 billion mostly on account of export of agri products. If Pak moves away from agriculture, then India would be laughing all the way to the bank! :)
 
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HariPrasad-1

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This is the disastrous advice one can ever give to a country like Pakistan. Pakistan has no Industrial base and Jumping straight into Industry based will disastrous . There are many countries which are better placed to produce industrial outup of so called Sunset Industries of China. Pakistan shall have to compete directly with many better placed countries like Bangladesh, Vietnam, Indonesia, Srilanka, Malaysia etc even if I do not consider India. Ignoring agriculture shall straight way result into a huge loss in employment.

What Pakistan need to do is to firm up its agriculture first and harness water resources. In second stage, they need to strengthen their textile industries and handicraft industries.

Meanwhile pakistan can build their electricity sector, water resources and education and skill development so that a firm foundation of economically strong nation can be laid down.

The problem with pakistan is wrong priority and and diverting of public money for the luxuries of its useless and corrupt army. Pakistan need to get ride of it.
 
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HariPrasad-1

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Pak's GDP would grow to 10% annually? Wow! :pound:

If wishes were horses, beggars would ride!! :tongue:

Oh wait! Pak's senator Abidi recently said that with the CPEC, rivers of gold will flow in Pakistan!! Lol! These Pakis are sure living in a world of delusions! And the Chinks are taking them for a jolly good ride!!
Like CPEC, this is an another tool of China to cheat Pakistan.
 

dhananjay1

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Yes, learn to serve your Chinese masters and you would have better economy. :lol:
 

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More Islam is the only answer to Pakistan's woes.
@Neo you gotta go "greener" still n that should sort out the economy, security, cricket, global warming n everything else.
 

Rashna

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Naivety thy name is pakistan. China plans to shift its muslim population to pakistan eventually. They already moved prisoners for all the construction jobs related to CPEC. Pakistan the home of terrorists, chinese criminals and naive pakistanis.
 

lcafanboy

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Move away from agriculture, Chinese economist advises

ISLAMABAD: Pakistan can double its annual economic growth rate to 10% by moving away from being an agriculture-based economy, and dying Chinese industries can become an instrument to achieve this objective, professor Justin Yifu Lin, a Counselor at the influential State Council of China, said on Tuesday.


Sectors where China is losing its competitive advantage can become Pakistan’s latent advantage, said the professor, also a former vice-president of the World Bank and author of 24 books. He said that light manufacturing industries that have been declared “sunset industries” in China can be relocated to Pakistan.

Boosting agriculture: Experts call for collaborative efforts

Pakistan has maintained a decent economic growth rate but it is still relatively poor, said professor Lin, while highlighting flaws of Pakistan’s economic structure and the way forward for the economy of 200 million people.

His economic development theory gives a centre stage to the government as a facilitator aimed at overcoming externality and coordination challenges during the transformation phase.

China will move from labour-intensive to capital-intensive industry and this will free 85 million jobs that will relocate to other countries, said the professor. “China’s upgrading to higher industries will leave a huge space for Pakistan to enter a labour-intensive industrialisation development phase”, he added.

“Poverty is not the destiny of Pakistan,” said Professor Lin while delivering a lecture on how to achieve dynamic growth at the Planning Commission.

“If Pakistan can capture this opportunity, it will be able to grow at 10% annually for 30 or more years and become a high middle income or even high income country,” said Professor Lin, one of China’s foremost economists.

Pakistan’s advantage

According to Pakistani thinkers, the country’s current economic structure is highly flawed, as more than half of the total national output is coming from the services sector that is not labour intensive.
Pakistan grew at 4.7% in the last fiscal year, which was not sufficient to create enough jobs to absorb the youth bulge. Its growth is job exclusive and has widened the gap between the rich and poor, according to independent economists.

The Chinese professor said that the two types of Chinese investments could come to Pakistan -infrastructure and export-oriented sectors. He said that Pakistan’s businesspersons could enter into joint ventures with Chinese partners.

The private sector of Pakistan has to change its mindset as days of protectionism are over, said Ahsan Iqbal, Federal Minister for Planning, Development and Reform. Iqbal said that if Pakistan remains unable to take advantage from 85 million dying jobs in China, these jobs would shift to other countries like Vietnam and Bangladesh.

Pakistan’s journey to success

Professor Lin suggested six steps for Pakistan to indentify sectors of latent competitive advantage. The first step is to find fast growing countries with up to 200% higher per capita income or about 30 years ago had similar per capita income. He said in 1979 China’s per capita income was 30% less than that of Pakistan but today Beijing’s per capita income was 550% more than of Pakistan.

He said that in the next step, the government should see if some private sector firms are already in these industries and should then facilitate them by removing constraints. In step three, the government should invite foreign firms to invest in sectors where the local firms are not working.

Problems riddle agriculture sector, say experts

In step four, the government should also pay attention to spontaneous self-discovery by private enterprises and give support to scale up successful private innovations in new industries.

In the second last step, Pakistan with poor infrastructure and bad business environment should set up special economic zones or industrial parks to overcome barriers to firm entry, attract foreign direct investment and encourage industrial clusters.

In the last step, the government may compensate pioneer firms identified above with tax incentive for a limited period, direct credits for investments and give access to foreign exchange.

The long-term development of China-Pakistan Economic Corridor also revolves around development of special economic zones.

Chinese industries willing to relocate to Pakistan provide excellent opportunity for Pakistan to grow at a faster pace, said Dr Ashfaque Hasan Khan, one of the leading economists of the country.

Use of new technologies to help reduce agri cost

Professor Lin said that for reducing transaction cost in the infrastructure sector Pakistan needs to improve customs, roads and rail networks. He also advised that the federal and provincial authorities should listen to the foreign investors in order to address their concerns.

Published in The Express Tribune, April 5th, 2017.

source: https://tribune.com.pk/story/1374408/move-away-agriculture-chinese-economist-advises/
That's a very good advice to Pakistan by China. With Modi government scrapping IWT and building dams and stopping all the water going to Pakistan it is just a matter of time there will be no water for agriculture. All they will have is barren lands.

Also China is moving away from sweat shops so they want some one to take those jobs so it can produce dirt cheap products at the cost of human life. And with Pakistan in debts due to cpec will have to work under inhuman conditions to pay off those debts.

So actually it is the money they have given to Pakistan for CPEC which worries them. Since there will be no water so no agriculture could be done and Pak won't be able to pay off those debts so China wants them to work for them to recover those debts.
 

Indx TechStyle

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ISLAMABAD: Pakistan can double its annual economic growth rate to 10% by moving away from being an agriculture-based economy, and dying Chinese industries can
At this moment?? Is anything left.
Moving away may be understood when you are healthy. But hell, do you know the state of Pakistani agricultural growth rate last year?
Moving away & ripping off are different things literally (I guess).
Because people facing lose or leaving agriculture aren't getting anything else either.
 

aditya10r

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Naivety thy name is pakistan. China plans to shift its muslim population to pakistan eventually. They already moved prisoners for all the construction jobs related to CPEC. Pakistan the home of terrorists, chinese criminals and naive pakistanis.
China plans to takeover Pakistan...........................
 

bose

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Pakistan has already moved away from agriculture !! are Chinese so dumb !!

It is long time Pakistan has moved from agriculture to terrorism ...
 

Indx TechStyle

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these Hindu banyias may mock but this an excellent piece of advice. agriculture is holding Pakistan back and this needs to stop
Not exactly, this advice may be nice if Pakistan has maintained it's agricultural sector.
But regarding it's share and falling profits (as per last year's economic revision where Pakistani GDP growth was just 3.1%),

Such statement is an overkill to Pakistani economy. Statement would have been relevant it their agricultural sector was ever taken care off, but Pakistan never emphasized agriculture to Industry either.

Economy was the last thing they used to talk about with Indians on internet until their game changer CPEC came in.:dude:
 

roma

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who needs enemies when you have CCPCHINA as your iron-buddy

Quite frankly, with advice like this coming from the COMMUNIST CCP ?? I would be very wary of their overall plan for pakistan if i were a packlander ....

The overall advice given is the EXACT OPPOSITE of the advice given by Yale Educated and highly successful PRACTICAL trader and investor from the usa and now resident in singapore whose two young daughters were deliberately brought up in asia to be able to speak mandarin Chinese as he feels that's the new economy , he is Jim Rogers, and if you dont believe me , please listen to any of his videos on the subject easily available on youtube.

in a nutshell he says that AGRICULTURE IS THE PLACE TO BE !!

good luck to packland in your strange relationship with the communist ccp
you are a God-fearing nation , they are the opposite
you claim to be head of ummah - they are hell-bent on reducing your numbers

good luck
 

ezsasa

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Pretty much everything i wanted to say has been said in the above posts....

does @Neo have an opinion on this?
 

ezsasa

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let's play a game..
Go thru the comments section of the article in OP, and identify the chini 50 center who is trying to hard sell the stupid idea to the pakis....
 

Indx TechStyle

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Agricultural based societies cant survive in modern World.

Industrialisation is Must for any Economy to compete with Other economies.
May be but agriculture is needed for industrialization.
A country who never even emphasized it's agriculture, how can it "shift" itself? A proper maintenance of agriculture sector will be needed for decimating it.
Otherwise, this industrialization will just be turned into creation of skillless & jobless neighbor.
 

Dark Lord

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Move away from agriculture, Chinese economist advises

ISLAMABAD: Pakistan can double its annual economic growth rate to 10% by moving away from being an agriculture-based economy, and dying Chinese industries can become an instrument to achieve this objective, professor Justin Yifu Lin, a Counselor at the influential State Council of China, said on Tuesday.


Sectors where China is losing its competitive advantage can become Pakistan’s latent advantage, said the professor, also a former vice-president of the World Bank and author of 24 books. He said that light manufacturing industries that have been declared “sunset industries” in China can be relocated to Pakistan.

Boosting agriculture: Experts call for collaborative efforts

Pakistan has maintained a decent economic growth rate but it is still relatively poor, said professor Lin, while highlighting flaws of Pakistan’s economic structure and the way forward for the economy of 200 million people.

His economic development theory gives a centre stage to the government as a facilitator aimed at overcoming externality and coordination challenges during the transformation phase.

China will move from labour-intensive to capital-intensive industry and this will free 85 million jobs that will relocate to other countries, said the professor. “China’s upgrading to higher industries will leave a huge space for Pakistan to enter a labour-intensive industrialisation development phase”, he added.

“Poverty is not the destiny of Pakistan,” said Professor Lin while delivering a lecture on how to achieve dynamic growth at the Planning Commission.

“If Pakistan can capture this opportunity, it will be able to grow at 10% annually for 30 or more years and become a high middle income or even high income country,” said Professor Lin, one of China’s foremost economists.

Pakistan’s advantage

According to Pakistani thinkers, the country’s current economic structure is highly flawed, as more than half of the total national output is coming from the services sector that is not labour intensive.
Pakistan grew at 4.7% in the last fiscal year, which was not sufficient to create enough jobs to absorb the youth bulge. Its growth is job exclusive and has widened the gap between the rich and poor, according to independent economists.

The Chinese professor said that the two types of Chinese investments could come to Pakistan -infrastructure and export-oriented sectors. He said that Pakistan’s businesspersons could enter into joint ventures with Chinese partners.

The private sector of Pakistan has to change its mindset as days of protectionism are over, said Ahsan Iqbal, Federal Minister for Planning, Development and Reform. Iqbal said that if Pakistan remains unable to take advantage from 85 million dying jobs in China, these jobs would shift to other countries like Vietnam and Bangladesh.

Pakistan’s journey to success

Professor Lin suggested six steps for Pakistan to indentify sectors of latent competitive advantage. The first step is to find fast growing countries with up to 200% higher per capita income or about 30 years ago had similar per capita income. He said in 1979 China’s per capita income was 30% less than that of Pakistan but today Beijing’s per capita income was 550% more than of Pakistan.

He said that in the next step, the government should see if some private sector firms are already in these industries and should then facilitate them by removing constraints. In step three, the government should invite foreign firms to invest in sectors where the local firms are not working.

Problems riddle agriculture sector, say experts

In step four, the government should also pay attention to spontaneous self-discovery by private enterprises and give support to scale up successful private innovations in new industries.

In the second last step, Pakistan with poor infrastructure and bad business environment should set up special economic zones or industrial parks to overcome barriers to firm entry, attract foreign direct investment and encourage industrial clusters.

In the last step, the government may compensate pioneer firms identified above with tax incentive for a limited period, direct credits for investments and give access to foreign exchange.

The long-term development of China-Pakistan Economic Corridor also revolves around development of special economic zones.

Chinese industries willing to relocate to Pakistan provide excellent opportunity for Pakistan to grow at a faster pace, said Dr Ashfaque Hasan Khan, one of the leading economists of the country.

Use of new technologies to help reduce agri cost

Professor Lin said that for reducing transaction cost in the infrastructure sector Pakistan needs to improve customs, roads and rail networks. He also advised that the federal and provincial authorities should listen to the foreign investors in order to address their concerns.

Published in The Express Tribune, April 5th, 2017.

source: https://tribune.com.pk/story/1374408/move-away-agriculture-chinese-economist-advises/
Great idea, Starve your population to death just like what Chairman Mao did in good old times. There where some 20 million Chinese starved to death during Mao's "Agriculture Shift"
Good luck Pakis!
 

Kshatriya87

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Pak's GDP would grow to 10% annually? Wow! :pound:

If wishes were horses, beggars would ride!! :tongue:

Oh wait! Pak's senator Abidi recently said that with the CPEC, rivers of gold will flow in Pakistan!! Lol! These Pakis are sure living in a world of delusions!

Seriously, the Chinks are taking the Pakis for a jolly good ride!! As part of the CPEC, they have dumped their 11 old coal fired plants in Pakistan which will have an enormous affect on pollution. And they will be importing low grade coal from China at enormous cost to run these ramshackled plants! Now this Chinese economist wants Pak to buy all their discarded manufacturing equipment too at the cost of agriculture! Lol!

But that's a blessing in disguise for India as the Pakis would be importing all their agri products from India. We already have a trade surplus with Pak to the tune of $1.2 billion mostly on account of export of agri products. If Pak moves away from agriculture, then India would be laughing all the way to the bank! :)
Chinese showing gajar to pakistan.
 

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