As Pakistan prepares to go to the polls in the first transfer of power between one democratically elected government and another since the foundation of the state, optimists say the elections will mark an important turning point for the country. But pessimists point to the background of violence against which the elections are taking place and the continuing parlous state of the economy. To assess this, Gideon Rachman is joined by Victor Mallet, South Asia bureau chief, and Stefan Wagstyl, emerging markets editor

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