Noah Smith at Noahpinion:
Pakistan is a vast country of 231.4 million people. It’s one of only nine countries in the world with nuclear weapons. It’s located in South Asia, which is now one of the world’s most dynamic and fast-growing regions. It has generally favorable relationships with both the United States and China. It has a long coastline in a generally peaceful region of the ocean. It has plenty of talented people, as evidenced by the fact that Pakistani Americans, on average, out-earn almost all other ethnic groups in the U.S.
And yet despite these natural advantages, Pakistan is one of the world’s biggest economic basket cases. It’s a poor country, and its income is growing only very slowly; it has now been passed up by India and Bangladesh, despite starting out significantly richer…
More here.