South Asia Investor Review is focused on reporting, analyzing and discussing the economy and the financial markets of countries in South Asia, including Pakistan, Bangladesh and Sri Lanka. For investors looking to invest in emerging markets beyond BRIC countries (Brazil, Russia, India and China), this blog is designed to help international investors looking to learn about investing in South Asia with focus on Pakistan. Riaz has another blog called Haq's Musings at http://www.riazhaq.com
About 200 Pakistani-American and other American investors met at Invest in Pakistan Summit in Silicon Valley on October 3, 2019 at San Jose Sheraton. It was hosted by the Pakistan Embassy in Washington DC. One of the sessions I found interesting dealt with the opportunities presented to Pakistan by US-China technology war sparked by US President Trump's actions against Chinese technology giants Huawei and ZTE. In response to the US threat to restrict access to American core technology, China is aiming to develop and produce 40% of the semiconductors it uses by 2020 and 70% by 2025, according to Washington-based CSIS report. It is estimated that China needs about 500,000 engineers to achieve this goal. Can Pakistan, a reliable Chinese ally, train and provide some of these engineers?
US-China Tech War:
The technology war between the United States and China has been going on with the roll-out of the 5G next generation broadband wireless technology. China has developed its 5G technol…
President Donald Trump has made a habit of telling truths that drive the United States establishment crazy. For example, he told Russian officials in a White House meeting in 2017 that he was not concerned about Russian interference in 2016 US elections because the United States did the same in other countries' elections, according to media reports. In a 2017 Super Bowl Sunday interview with Trump, Fox News anchor Bill O'Reilly authoritatively declared Russian President Vladimir “Putin’s a killer.” Trump replied with the question: “What, you think our country’s so innocent?”
Trump did something similar in 2018 after his Singapore Summit meeting with North Korean leader Kim JongUn. When Fox News' Brett Baier raised the question in an interview about "Kim's oppression of his own people", Trump said: “Yeah, but so have a lot of other people have done some really bad things.” Trump's straight talk continues to inflame passions in the US establishment.
How was Pakistan Prime Minister Imran Khan's UN General Assembly speech received? Was he right to tell the audience that Prime Minister Narendra Modi belongs to RSS, the right-wing Hindu Supremacist organization whose member killed Mahatma Gandhi? Does the world know that RSS founders were inspired by Nazism and Fascism? And the RSS members admire Gandhi's murderer Nathuram Godse? Is it hypocritical of Modi to exploit Gandhi's name in his UNGA speech and elsewhere in the West? Do Hindutva followers want to have it both ways? Benefit from Gandhi's name in the West while destroying Gandhi's legacy in India?
Why did Imran Khan talk about the connection between US war on terror after 911 and the rise of Islamophobia? How have countries like India exploited the war on terror to defame genuine Kashmiri resistance movement as terrorism?
What will happen when Modi lifts restrictions on 8 million Kashmiris living under total lock-down since August 5, 2019? Is Modi riding th…
Most Indian-Americans vote for the Democratic Party in American elections. Almost all Indian-Americans in elected offices are Democrats. Notable among them are Ro Khanna, Raja Krishnamoorthi, Pramila Jayapal and Kamala Harris. Many Indian-Americans have been appointed to senior positions in executive and judiciary branches by Democratic administrations. However, they instinctively agree with Republicans. They share Republicans' racism against African-Americans and Hispanics and support President Trump's religious bigotry against Muslims.
Most India-Americans ardently support Indian Prime Minister Narendra Modi whose party is openly hostile to minorities, particularly Muslims, in India. And majority of Indian-Americans are totally unconcerned about the plight of minorities in India. Modi's declaration “we’ve said goodbye to Article 370" in Indian Occupied Kashmir drew the loudest cheers at Howdy Modi rally which highlighted the hypocrisy of Indian-Americans. The atte…
Eminent Pakistani economist Dr. Nadeemul Haq (no relation to Riaz Haq) interviewed Riaz Haq last week for his podcast "Soch Bichar" to talk about the subject of "Digitization in Pakistan" in Urdu. Here is a summary of the interview:
Dr. Nadeemul Haq: How do you define "digitization"?
Riaz Haq: To me, digitization on a national scale is pervasive use of digital technologies in all aspects of life: business, trade, industry, media, finance, government, education, sports, entertainment, military, etc etc.
NH: What is happening in Pakistan on digitization?
RH: Jahangir Tareen, a close aide to Prime Minister Imran Khan, has recently announced the hiring of a woman of Pakistani origin who is currently working for Google in Singapore. He said she will lead the digitization effort in Pakistan from the Prime Minister's office.
NH: Is digitization possible in Pakistan?
RH: Yes, it is possible. Digitization requires digital infrastructure and human capital. Pakist…
Dozens of cheap drones were deployed against Abqaiq and Khurais oil fields to cut Saudi Aramco's production by half, according to multiple media reports. Saudi and US officials have blamed Iran for the destructive hit. This is the first time that cheap drone swarms loaded with explosives have dodged sophisticated air defense systems to hit critical infrastructure targets in the history of warfare. And it is not likely to be the last time as more nations and non-state terror groups are inspired by it to develop and contemplate using such tactics. Some are close to home for Pakistanis. For example, in a clear warning to Pakistan, an Indian NDTV headline on July 12, 2019 blared: "Swarms Of Indian Drones Being Designed To Take Out Targets Like Balakot (Pakistan)". Will Pakistan develop drone swarm capability, especially after India's expected deployment of Russia's S-400 air defense system?
Attack on Saudi Aramco:
Saudi sources have revealed through the media that…
Federal prosecutors in Silicon Valley have filed fraud charges against 30 defendants in a patients-for-cash kickback scheme. Indian-American CEO Ridhima "Amanda" Singh of Amity Home Health and Indian-American Bhupinder Bhandari are among the key defendants charged in the case. Pakistani-American Dr. Mariam Hasan, a graduate of Karachi's Dow Medical College, has also been charged. In addition to South Asians, the accused come from many different national origins, according to media reports.
Ridhima Singh, daughter of Dr. Rajiv Ahuja of Fremont, funneled $8 million in bribes — in Warriors tickets, Louis Vuitton bags, and “literal envelopes of cash” — to doctors, nurses, social workers and marketers in the South and East Bay who sent patients to the company, said David Anderson, the U.S. Attorney for the Northern District of California. Those new patients brought $115 million in Medicare funds for Amity and a related corporation, Advent Care.