“The economy, stupid,” is the phrase coined by James Carville, the campaign strategist for Bill Clinton’s presidential campaign, in 1992 in America. The phrase tells the story of one of the core issues of America at the time. This gimmick led to Bill Clinton’s triumph. Americans have realized that real prosperity and development are linked to the economy. They have taken over the world through the power of the economy and comprehensive economic partnership with countries has helped them to overcome the doldrums. Indeed, every nation has economic problems, preventing it from maintaining its influence on others.
Like America, Pakistan’s economy is facing problems. This problem has given birth to social vices and fanatical politics in the state. Today, countries are competing in the race for a better economy. The world is thinking about empowering the economy rather than buying weapons. The world has become revolutionary- this magnanimous thinking has driven war-mongering countries to consciousness, and has led them to establish trade relations.
At the moment, we need to look at the political positions of different countries around the world. Every developed and under-developed country is trying to solve economic problems because when a nation does not try to find a universal solution for the problems facing the economy, it would not be able to compete with developed countries. Political and diplomatic problems are the root causes of the dwindling economy.
In November 2012, ten member states of the Association of Southeast Asian Nations (ASEAN) agreed to the terms of the Regional Comprehensive Economic Partnership (RCEP). It is being called the world’s biggest trade pact. The RCEP is backed by China, and also has Japan, South Korea, Australia, and New Zealand as its member states. India, however, decided against the bloc and opted out because of significant differences over tariffs and other problems. As this is the world’s largest trade bloc, the pact will have a combined market of 2.5 million people, covering 35 percent of the world’s population. It will also encompass about one-third of the global GDP.
The phrase, “the economy, stupid,” resulted in a victory for Bill Clinton in 1992 and fulfilled the dream of great America. This phrase is also enough to make Pakistan fulfill the dream of “Naya Pakistan.”
It is understandable that every nation wants to compete for a better economy. The countries which are having success in economic consolidations are termed as the developed and coercive nations. Every nation has felt the importance and influence of the economy in making the foundations of a nation.
Our biggest problem is with the economy. It was because of the weak economy that Prime Minister Imran Khan was not able to decide to go to Malaysia for the evolution of the nation. When a country does not stabilize itself economically, it cannot veto the powers for its evolution and sentiments. Not only does the economy cause the falling of any nation but it also deteriorates the position of that nation on a diplomatic and political levels. Pakistan is still lurching and is unable to deliberate its policies regarding international politics. Because of its economy, Pakistan is unable to realize its power. Here, Carville’s phrase, “the economy, stupid,” resonates.
The past visits of PM Imran Khan for the establishment of the economy, to Saudia Arabia rather than to other countries have isolated Pakistan completely on the diplomatic level. The solicitation of donations and debts from different countries has gagged Pakistan. The country can fall into quagmires due to unscrupulous settlements, and this could further cause the deterioration of the economy on the international level. Sadly, over the past few years, political visits for solicitations has paralyzed Pakistan and has given birth to hopelessness.
It was against the backdrop of the phrase, “the economy, stupid,” that Bill Clinton won and it resulted in an attempt to refashion America’s image. Three decades after the chapter of America’s new history of the economy began, this phrase symbolizes the dream of great America. The fundamentals of the state policy of America effectively changed after the evolution of this phrase. This phrase is different from others because it represents new thoughts and ways of the economy in the USA.
Today, Pakistan does not have any choice on the diplomatic level because of the weak economy. Pakistan cannot intermingle with a constellation of religious countries for the fending of religion. The deterioration of the economy has emasculated Pakistan. If Pakistan does not consolidate its economy, there will be a crisis for the nation and it will be isolated. The phrase, “the economy, stupid,” of Carville provides us an opening: a chance of moving towards the coercive economy. Indeed, when the economy will be strong, it would build the image of the state. In contrast, if this does not happen, we would not be able to fulfill the dream of “Naya Pakistan.” It is not possible without the prospering of the economy. Carville’s phrase, “the economy, stupid,” again resonates with Pakistan.
The writer is a student of economics at the University of Balochistan, Quetta.
Disclaimer: Views expressed in this article are those of the author and Balochistan Voices not necessarily agrees with them.
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