Reassessing The Impacts of Economic Globalization on Agriculture and Manufacturing Sectors of Pakistan’s Economy

Economic globalization has acted as a double-edged sword in less-developed countries like Pakistan by creating some opportunities; however, Pakistan faces backwardness in aligning its economy with the rapid pace of globalization. Its agriculture and manufacturing sectors have not kept pace with ongoing challenges. This article, via mixed research, aims to address the existing loopholes in the policies of the government and suggest future courses of action that are essential in addressing these problems. Comparative advantage theory used to analyze the agricultural and manufacturing sectors in the world market highlights the potential areas of improvement for Pakistan's export-led growth. The research exposes internal policy loopholes hindering potential economic growth in the manufacturing sector. Similarly, agricultural productivity is devoured by institutional weaknesses, lack of policies, and lack of implementation of existing policies. Sound and appropriate economic policies at the domestic level, along with international policy coordination, are significant as a way forward.