Pakistan, Jan. 15 -- Economic conflict no longer lurks in the background of global politics. It has clearly moved centre stage. Trade barriers, sanctions regimes, shipping choke points and technology controls are now deployed with the same intent once reserved for military force, and hence, the Global Risks Report 2026 merely formalises what markets and middle powers have already learned the hard way.

For Pakistan, a nation whose economic pillars are built upon exports and remittances, this reality is particularly sobering. Domestically, we are playing catch-up. A remarkable turnaround brought inflation down from nearly 40% to around 4.1% by mid-2025. The stabilisation of foreign reserves, now covering two months of imports, coupled with...