Rise of Pakistan not far off, says Morgan Stanley
TFD Monitoring KARACHI: Pakistan is located in a region that will bring major changes in the world economy in coming decades primarily due to its demographics.
With over 100 million people below the age of 30 aspiring to change their lives, the rise of Pakistan is just a matter of time, Morgan Stanley Chief Investment Strategist David M Darst said on Tuesday.
"Demographics will play a major role in coming decades. Pakistan is among those nine countries in Asia that will add another China in the next 35 years and the impact of this change will be phenomenal on the world economy," he said while giving a lecture on "The World Economic Environment: Where's the Global Capital Going".
It was part of a special series of lectures that was organised by The Aga Khan University here at its auditorium.
With a young population of an average age of 22 years, "I believe the opportunities that the young entrepreneurs from Pakistan have are going to make an exceptional contribution to the economy of the region," he added.
Darst, who is the author of 11 books and has a PhD in economics from Yale, said it is wrong to believe that Pakistan is lagging behind due to its proximity with Afghanistan, Iran and India. "In fact, I believe Pakistan is in the centre
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