Economic watch: Mid-August is a significant time for many Asian countries. Assoc. Prof. Dr. Piti Srisangnam explained that Pakistan celebrates its Independence Day on August 14th, India on August 15th, and Indonesia on August 17th. Pakistan and India gained independence in 1947, while Indonesia declared independence in 1945. According to Thai News Agency, these three countries are now playing vastly different roles in the global economy and geopolitics, amidst the competition among superpowers and the shaping of relations between China, the United States, and countries in the Muslim world.
Pakistan is a strategically important country, positioned to connect South Asia, Central Asia, the Middle East, and routes to the Indian Ocean. However, it has faced economic challenges, infrastructure problems, and instability from armed groups for decades. Despite these challenges, Pakistan plays a significant role in the Muslim world, exemplified by General Raheel Sharif's leadership in the Islamic Military Counter Terrorism Coalition. A notable development in Pakistan's geopolitical stance is its strengthened relationship with China, marked by the China-Pakistan Economic Corridor (CPEC). This collaboration enhances connectivity between Pakistan and China through energy, infrastructure, and industry projects, including the development of the Gwadar port.
Meanwhile, India plays an increasingly important role in international economic and political affairs. With a population of over 1.4 billion and a massive economy, India generates significant economic value even with small growth rates. India's foreign policy has evolved from a Non-Aligned Movement to a Multi-Alignment approach, allowing it to maintain relationships with multiple factions. This strategic positioning makes India crucial in global geopolitics, as major powers like the United States, China, and Russia cannot easily ignore its market and influence.
Indonesia, which declared independence on August 17, 1945, continues to face short-term economic challenges. However, the country holds long-term advantages due to its large domestic market, population, and natural resources. From an investment perspective, Indonesia presents opportunities for those willing to take a long-term view and navigate domestic economic conditions.
As the world witnesses the evolving geopolitical landscape, Pakistan, India, and Indonesia are not merely followers but active players in the global arena. Their Independence Days serve as reminders of their historical journeys and their emerging roles in shaping 21st-century geopolitics. The competition among superpowers now extends beyond military might to encompass economic networks, investments, infrastructure, and alliances.