What everyone underestimated was the acute unpopularity of the Taliban, even in the Pashtun areas. People like myself were saying the Taliban would be driven out very swiftly from the north of Afghanistan, but given that their main support base was in the Pashtun belt, there would be greater resistance there. That didn't happen. The Taliban had become deeply unpopular and were actually discarded by the Pashtun population almost as quickly as they were in the north. I don't see the Taliban coming back in any way.

The West would be well advised to change its approach towards failing states. At present, no major power can find the correct ways and means - and the numbers of failing states are increasing. This year we watched the collapse of Mali, a consequence of the Libyan civil war. The south of Libya and Mali, and Niger too, are well on the way to becoming a no-man's land. After 9/11, George W. Bush and Tony Blair made the promise that they would not tolerate failed states because they could become a haven for terrorists. And today? The number increases.

The biggest mistake Barack Obama could have made is to change quite a few things in his Afghanistan policy. He increased the number of troops and at the same time set the US withdrawal date to 2014. Now the United States has to ensure that Afghanistan does not immediately collapse after being left to itself in 2014.

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 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.

The strategy for peace-building in Afghanistan is economic aid, reconstruction, international security forces. On those lines, the U.S. has been extremely slow. And it has even blocked expanding security forces from Kabul to other cities.

We should remember that the Pashtuns are the largest ethnic group in Afghanistan. Of course, many of them did support the Taliban. But you cannot equate all Pashtuns with the Taliban.