Islamabad, May 24, 2022 (PPI-OT):The Pakistan Economy Watch (PEW) on Tuesday said the second Cold War between Russia and the United States is more worrying than the first Cold War because it is affecting majority of the world’s population. The Russian bloc was defeated in the first Cold War, but now it seems unlikely as the global situation has changed, it said.

In the first Cold War which lasted for almost 45 years, the two powers did not clash directly but millions of lives and trillions of dollars were sacrificed however the total losses of the current war could be more, said Brig. (retd) Aslam Khan, Chairman PEW.

He said that the war has shaken the global economic system, the price of everything is skyrocketing and inflation is taking a toll on the masses which can cause massive unrest and deadly clashes in many countries. At the moment, the Western bloc is focusing more on Russia, so the efforts of political and economic instability in China are not in focus which is benefiting China, he added.

As soon as the Ukraine issue is resolved, the west will again target China which is becoming an influential global powerhouse, he observed. The struggle for global supremacy between the US and China will cover the political, economic, military and ideological spheres.

He informed that realising the situation, Beijing has also stepped upped efforts to improve its military capabilities to counter any misadventure. The situation will be a big test for Pakistan which will not be able to take decisions according to national interests if the economy remained fragile, he warned.

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President,
Pakistan Economy Watch (PEW)
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