America does not hold to the colonial tradition. America came, liberated Afghanistan from the Taliban and al-Qaida, came to an arrangement with Hamid Karzai, wanted to organize elections as soon as possible and then withdraw. The Bush administration thought that once there is a democracy, everything else will fall into place. If today you speak to the architects of the 2001 Afghanistan Conference in Bonn, they will tell you that instead of being fixated on elections, we should have built a State in Afghanistan with an army and a police force first.

Pashtun nationalism is reasserting itself. Its political history spans several hundred years. The Pashtuns are angry at the Americans because, one, they're still being bombed, and two, they perceive that the Americans are backing the Tajik faction, which controls the army and security forces in Kabul.

I think within a year or so, perhaps, if 9/11 had not happened, in Afghanistan would have been a very broad-based general uprising against the Taliban.

The Pashtuns feel discriminated against by the Americans because they supported the Taliban and the war is still going on in their region with continued U.S. bombing. They are also disgruntled at the overwhelming power of their ethnic rivals the Tajiks, who dominate the security forces in Kabul and control the key levers of political power. Although Karzai is a Pashtun also, many Pashtuns consider him a hostage to the Tajiks and Americans.

Our Pakistan elites are spoiled by permanent foreign aid and therefore find it difficult to change course. Pakistan needs someone who stands up and says: Fundamentalism is bad, capitalism is good. This region harbors enormous potential. Pakistan could become the hub for the energy that is transported from Central Asia to South Asia. That could change the whole region.

The Soviets held to the tradition of colonialism. They raped the country and killed many people. But they also built dams, electrical power plants, streets, and technical schools. They were communists and had the same vision for Afghanistan that Stalin and Lenin had for the Soviet Union: Progress is communism plus electrification. And today? Today Kabul gets its electrical power from Uzbekistan, Herat from Iran and Jalalabad from Pakistan.

I am confident that there are hedge funds, banks or investment companies that could allocate five percent of their portfolios for risky investments. In any event, for countries like Afghanistan the formation of an entrepreneurial class is of vital importance.