Moody’s Googly Report
Few years ago, like previous numerous occasions, the agency was fined for issuing false credit ratings that eventually led to the market crashing in 2008. A study found the Credit Rating Agencies (CRAs) are for-profit businesses. They get paid
through back channels and even via front lobbyists, to carry out studies in their favour. Following are conclusions on their credibility:
- Inflated CRA ratings are a large cause of the financial crisis.
- Issuers pressured CRAs to inflate ratings to help sell their structured products
at a higher price.
- Regulators wrote a regulation that encouraged CRA ratings inflation; though this was not obvious when they were written.
- Many investors cared more about higher rather than accurate ratings since it allowed them to take more risk.
- The CRAs sacrificed rating integrity to cut costs and make more money.
In this context, that’s
a sure way to make Pakistan’s Bajwa regime look credible, having the smokescreen of a Miracle Recovery of Pakistan Economy, and to Fizzle out Fazl-ur -Rehman protests and other sensible questions posed by Pakistan public on Bajwa Doctrine and
Colonization by China.
While above colonization of Pakistan by China is now initiated, how the state of affairs going to be, is the underlining question. ‘China model’ has off late been the demand orchestrated by China lobbyists,
in a seemingly harmless bid to have Chinese footprint on Pakistan’s economic and strategic decision-making. China’s actually existing political system (what drives its well-publicised growth story) is considerably shrouded in clandestineness in
mainstream political conversations across Pakistan. Print and electronic media doesn’t report on China’s domestic politics, and it rarely reveals any insight into the shady alley down of Chinese economic growth. While this is in interest of China,
it will have a Pakistan Colony, similarly and easily governable, it misses out on two essential counts. Chinese society is repressed, except in ways that suits current economic-security paradigm. Hence it is not given to enterprise, but supervised living.
Secondly, other than mainland Han ethnic populace, rest all regions are essentially already Quasi-colonies, now and since long. They cater as workforce and resource-rich lands are exploited in a most unabashed manner. Uighur model is a far easy picture, compared
to what is in store for common Pakistani, in future.