By Muhammad Umer
Pakistan: The Delusion of Being “Too Big to Fail”For decades, Pakistan has wielded its geostrategic location, growing population, and nuclear arsenal as a threat to the global order. The belief that Pakistan is “too big to fail” is deeply ingrained in the political and establishment elite, leading to a lack of significant economic, civil, structural, and systemic reforms. However, this complacency is quickly becoming a delusion.
In the past, the belief that the world would rescue Pakistan from economic collapse was rooted in a unipolar, American-led, neoliberal world order. But in today’s post-pandemic, multipolar world, the economic trend is towards self-sufficiency and limiting imports and supply chains.
For years, Pakistan has been seen as a potential danger to the global community due to its strategic location, its growing population, and its nuclear arsenal. The belief that Pakistan is too big to fail has become deeply ingrained in the country’s political and establishment elite.
However, this complacency is fast becoming a delusion. The world is no longer the same as it was two decades ago when the phrase was first used. The current global context is vastly different from the American-led, neoliberal world of the past, and the current multipolar world has less appetite for uncertainty.
In this new world, the IMF is taking a harder line with Pakistan, holding the country to harsh conditions in order to receive further aid. China, once seen as a potential savior, is now more focused on its own security and economic concerns and is unlikely to provide the support needed.
Meanwhile, countries that have previously provided bailouts are now changing tack, focusing on their own economies and implementing strict immigration policies. The failure that Pakistan was meant to prevent was never defined from the perspective of the Pakistani people. It was never about the inability to feed, house, or provide basic rights and dignity to its 230 million citizens.
By these measures, Pakistan has been failing for some time, a trend that has been exacerbated by recent natural disasters. In order to move forward, Pakistan needs to recognize that it cannot rely on external sources to prevent failure. Instead, the country must focus on implementing the reforms necessary for success. This means taking a hard look at the current system and making the changes needed to ensure a better future for its people. Only then will Pakistan be able to define success on its own terms.
It’s time for Pakistan to own its failures and work towards success through much-needed reforms. It’s crucial for the Pakistani people to define what success means for them, rather than relying on external threats to drive change. In a world where uncertainty is the norm and the fear of Pakistan becoming a failed state has lessened, it’s time for Pakistan to take control of its own future.
The true success of Pakistan should be defined by the ability to provide its citizens with basic necessities, livelihoods, and dignity. It’s time to break free from the illusion of being too big to fail and strive towards a brighter future.
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