Pakistan has recently been looking towards China as a potential model for economic development, as Chinese economic growth has been greatly successful in recent decades. China's growth model, often referred to as the "China Model," has been a source of fascination for many countries across the world, including Pakistan.

One expert on the subject, Dr. Ali Hasanain, who teaches economics at LUMS, has shared his views on the China Model, as well as what Pakistan can learn from it and what we have to fear.

The China Model is built on a few key pillars, including state-led development, a focus on exports, and heavy investment in infrastructure. The Chinese government has played a crucial role in ensuring that its economy has developed in a linear and sustainable way. The government has invested heavily in infrastructure projects, such as ports, roads, and railroads, which has led to massive growth in the economy.

Part of this growth has also been due to China’s focus on exports. By producing low-cost, high-quality goods, China has become known as the world's factory. This has led to a massive influx of foreign investment in the country, which has further propelled economic growth.

CPEC (China Pakistan Economic Corridor) is an example of China's investment in infrastructure in Pakistan. As a part of the Belt and Road Initiative, CPEC aims to improve Pakistan's transportation and energy infrastructure, which will be a boost to the country's economy. CPEC has been a point of controversy in Pakistan, with some arguing that the country may become indebted to China as a result of its investment in the project.

The China Model has been successful for China, but it may not be a perfect solution for every country. Dr. Hasanain argues that Pakistan should be cautious in its approach to the China Model, and should work to develop its own unique strategy for economic development.

According to Dr. Hasanain, one key aspect of China's success has been its ability to adapt and change as circumstances change. He also notes that the Chinese government has a high degree of control over its economy, which may not be possible in Pakistan's political climate.

Another potential challenge for Pakistan is the issue of corruption. While China is known for cracking down on corruption, Pakistan has a long history of corruption in politics and business. This may hinder the country’s attempts to adopt the China Model, as corruption can erode investor trust, leading to a lack of foreign investment.

Additionally, it is important for Pakistan to focus on developing its own industries and finding ways to cater to its domestic market. While becoming a manufacturing hub like China would be ideal, Pakistan may benefit more in the long run by developing its own unique industries.

All in all, the China Model may provide some valuable lessons for Pakistan, but it is important for the country to be cautious and thoughtful in its approach to economic development. Pakistan has its own unique challenges to overcome, and must work to develop strategies tailored to its specific needs.