Zachariah
Banned
With a GDP growth rate of 6.8% during the '60s, Pakistan was seen as a model of economic development around the world, and there was much praise for its economic progress. Karachi was seen as an economic role model around the world, and there was much praise for the way its economy was progressing. In particular, West Pakistan's high rate of economic growth during this time period brought wide regard to Pakistan as a model of successful implementation of capitalism in a developing country - in 1964, GDP growth was 9.38%. Many countries sought to emulate Pakistan's economic planning strategy- most notably, South Korea directly copied the Pakistanis' second "Five-Year Plan" to kick-start its own meteoric economic growth, with the World Financial Center in Seoul modeled after that of Karachi.
Later on though, economic mismanagement in general, and fiscally imprudent economic policies in particular (along with Operation Gibraltar and the Indo-Pakistani War, of course) caused a large increase in the country's public debt, and led to slower growth in the 1970s and 1990s. When the Pakistanis' original 5yr plan began in 1960, it had a GDP of US$4.2 billion, compared to South Korea's GDP of US$2.7 billion in 1962 at the time when it adopted the Pakistanis' 5yr plan- both nations had roughly the same GDP/capita at the time. So then, your challenge is to have Pakistan continue its meteoric economic growth and retain its place as one of the Asian Tiger economies right up to the present day, with the Pakistani economy growing at a similar pace or faster than OTL's South Korea, to the extent where Pakistan still has a GDP/capita similar to that of OTL's South Korea (can be either nominal or PPP) by the present day. What do you think- can it be done? And how different would the world be as a result of Pakistan's far greater prosperity ITTL?
Later on though, economic mismanagement in general, and fiscally imprudent economic policies in particular (along with Operation Gibraltar and the Indo-Pakistani War, of course) caused a large increase in the country's public debt, and led to slower growth in the 1970s and 1990s. When the Pakistanis' original 5yr plan began in 1960, it had a GDP of US$4.2 billion, compared to South Korea's GDP of US$2.7 billion in 1962 at the time when it adopted the Pakistanis' 5yr plan- both nations had roughly the same GDP/capita at the time. So then, your challenge is to have Pakistan continue its meteoric economic growth and retain its place as one of the Asian Tiger economies right up to the present day, with the Pakistani economy growing at a similar pace or faster than OTL's South Korea, to the extent where Pakistan still has a GDP/capita similar to that of OTL's South Korea (can be either nominal or PPP) by the present day. What do you think- can it be done? And how different would the world be as a result of Pakistan's far greater prosperity ITTL?