The Illusion of Victory: Can Loans Win a War?
Girja Shankar Dixit Pakistan is broke. But its military isn’t. Fighter jets, drones, submarines, warships—Islamabad continues to amass them all, even as it lurches from one financial bailout to another. With a GDP barely scraping $236 billion and over $7 billion allocated to defence this year alone, Pakistan’s military might seems immune to its deepening…
