cover image: The Vanguard of Geoeconomics - Usman W. Chohan

20.500.12592/4nmvkp

The Vanguard of Geoeconomics - Usman W. Chohan

19 Jan 2022

As a whole-of-government document, the NSP directs the entirety of the state machinery to work towards the realization of the country’s geoeconomic ambitions. [...] In the case of geoeconomics, it is the Ministry of Finance (MoFin) and the State Bank of Pakistan (SBP) who shall stay at the vanguard with their outsized role in the new paradigm. [...] In the aftermath of World War 2, the Tokyo government empowered the Ministry of Finance to lead a semi-planned economy approach to national development, and the Bank of Japan (BoJ, the central bank) was subservient to the Ministry of Finance in that regard. [...] As with the engineering of Japan’s bubble, where the Bank of Japan worked against the Ministry of Finance to dismantle the successful national development model, the SBP can both actively and passively work against the government at many levels, thereby stymying the necessary coordination of fiscal and monetary policy for the purposes of geoeconomics. [...] If geoeconomics lies at the core of national security, then the central bank lies at the core of geoeconomics, and must be aligned to serve at the vanguard of the new national security paradigm.

Authors

Amna tauhidi

Pages
2
Published in
Pakistan