India and Pakistan are both losing in the current confrontation

Pakistan remains dependent on the world's goodwill. Its economy survives from bailout to bailout

Every aspect of the current confrontation between India and Pakistan -- which, I fear, may not be over yet -- was avoidable. The initial attack on Indian paramilitary soldiers, in which 40 of them died, was claimed by Pakistan-based Jaish-e-Mohammed, a terrorist group which has been allowed to thrive by that country’s military establishment. The attack itself required sophisticated organisation and hundreds of kilograms of explosives. Not preventing it was an Indian intelligence failure for which nobody has yet been held accountable.

After the attack, some form of retaliation was always on the cards, but the Indian government made the