Chinese economic model to replace western model soon: PEW
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Globalisation has failed to improve the world
The Pakistan Economy Watch (PEW) on Sunday said the theory of globalisation has failed as more and more countries are preferring protectionism over free market economy.
Chinese economic model which is not based on exploitation will soon replace western model which is based on exploitation, it said.
The One Belt One Road Project of which CPEC is an important component is the beginning of end of western dominance, said Dr. Murtaza Mughal, President PEW.
He said that globalisation has failed to achieve objectives like eradicating poverty while it worsened the problem by throwing world into acute crisis, he added.
Dr. Murtaza Mughal said that globalization failed to increase integration and interdependence of national, regional and local economies.
