AN array of investment MoUs valued at $7bn signed during Prime Minister Shehbaz Sharif’s China visit signifies Islamabad’s efforts to reposition its economic ties with Beijing. Instead of seeking infrastructure financing, Pakistan is now looking for investment-led cooperation for industrial relocation and export-oriented manufacturing, thus acknowledging its economic reality. The development model built around external borrowing, consumption-led growth and periodic balance-of-payments rescues has reached its limit. Pakistan today faces shrinking fiscal space, recurring dollar shortages, weakening exports and declining foreign investment. In that context, the PM’s........

© Dawn