China Pakistan Economic Corridor (original) (raw)

China-Pakistan Economic Corridor: Current Developments And Future Prospect for Regional Integration

Global Business Issues eJournal, 2016

Global economic landscape has been changed in modern era and the main derivers of this change are; trade liberalization, technology, freer capital movements between countries, advancement in communication and transport infrastructure, advancement in cross border supply chain system etc. China-Pakistan economic corridor (CPEC) is one of the initiatives of structural change in the world for reducing distance and trade cost among countries. Although china and Pakistan have strong geo-political and strategic relations over the decades but the visit of china’s president Mr. Xi Jingping to Pakistan in April 2015 with a bulk of investment in the shape of CPEC has further tightened the geo-economic relations between two countries. The main projects included in CPEC are related to; energy, infrastructure development, communication, industrial development and construction of Gawadar port. No doubt this win-win mega investment project will be prolific for both countries. Moreover, CPEC is not ...

China Pakistan Economic Corridor: A Voyage to Shared Destiny

Journal of Pakistan-China Studies (JPCS), 2021

The development of numerous ventures which includes organizational structures, growths, and services, has been documented for the period of a long time as an essential part of the politics of the globe. It is quite evident that the centre of financial power is transforming from West to East. Belt and Road Initiative (BRI) has provided Pakistan and its surrounded countries with prominent opportunities through establishing and participating in the platform for masses in Central, West, South Asia, Middle East, and Africa. China Pakistan Economic Corridor (CPEC) is a flagship project that is part of BRI. CPEC is the typical appearance of the conjunction of geo-strategic and geo-economic benefits of the two partners. Whereas the contemporary financial prudence would fulfill the financial benefits of Pakistan and China to enhance the development through mutual benefit in organizational structures & would correspond the efforts to secure common adversaries in forthcoming. CPEC is the signi...

China Pakistan Economic Corridor and Regional Economic Development Challenges and Opportunities

The CPEC is an ambitious project aims at changing the geo-economic dynamics of Pak-China relations and boosting the trade activity in the region. It envisages infrastructure development, upgrading rail and road links, creation of energy projects and establishing exclusive economic zones. The multi-billion dollar project offers a long term investment in Pakistan involving the regional countries as well. However, the project is being challenged with implementational issues, domestic controversies and external opposition. At the same time, the security guarantees provided by Pakistan Army, a parliamentary committee to oversee the fast-track completion of the project and chances of regional connectivity raises the hope for its success. Nevertheless, the success of the CPEC depends on political resolve and successful implementation of the project in full spectrum. Due to the regional security environment, Pakistan has suffered in the last few decades hampering its economic progress and development. On the other hand, the phenomenal rise of China in the regional and international financial/economic sphere has been jealously seen by many developed countries. However, the Chinese rise is a blessing for Pakistan, as Pak-China friendship transcends the governments and leadership in both the countries. Pakistan's strategic location, linking many sub-regions, and Chinese quest for regional economic reach have paved the way for a strategic understanding to transform the region into economic, trade and energy corridor. The launch of multi-billion China-Pakistan Economic Corridor (CPEC) could serve the purpose of Pakistan's economic progress and regional economic development. The CPEC is to be completed in 15 years in four phases with three different routes having 51 various projects with an estimated cost of $46 billion. Though China is ready to invest multi-billion dollars for the project but Pakistan's domestic politics, controversies over route, terrorism and long time period for its completion cast heavy shadows on the Corridor project. Moreover, Indian unease and covert actions to sabotage the project along with the US reservations add further challenges to the project. However, given the political resolve by both Pakistan and China, guarantees by Pakistani army to safeguard the project, initiation of the project on fast-track and financial commitment by China augur well for the project. The China-Pakistan Economic Corridor has the capability to transform the conflict-ridden region into an economic, trade and energy hub for the regional progress and development. Therefore, this research paper endeavors to discuss the CPEC project in economic perspective, highlighting the bilateral benefits, regional economic connectivity, and looking at various challenges and opportunities for its successful completion.

China-Pakistan Economic Corridor: Opportunities and Challenges

Strategic Studies, 2019

The paper discusses salient features of the China-Pakistan Economic Corridor (CPEC) and attempts to analyse the opportunities and challenges coming along its way. This research highlights the importance of the CPEC in China's Belt and Road Initiative (BRI) and focuses on the strategic importance of Gwadar port as well as the significance of the CPEC for both China and Pakistan that is providing the shortest connectivity to China with Central Asia, West Asia, South Asia and onward to Europe. Moreover, it emphasises on how distance will be shorten for oil transportation from Gulf to China and will enable Beijing to play an important role as a major import and export corridor in the world. It also addresses the question about the trade deficit between China and Pakistan and highlights that the CPEC will also boost the bilateral trade. Furthermore, the study discusses different segments of the construction and prospects of the CPEC and questions the threat perception for the game changer project ─ the CPEC and how Pakistan can tackle these threats.

China-Pakistan Economic Corridor: A Key to Regional Connectivity and Development

Pak-China nexus has always been exemplary and phenomenal. Year 2015 is marked as the biggest milestone between these two all-weather friends. China Pakistan Economic Corridor (CPEC) is the key to the door that leads to the biggest ever trade activity that will be started from China and will be expanded to the middle-east, African and even some vibrant European markets. It is the biggest deal signed between Pakistan and any other country that promises the huge economic commotion. This corridor is basically a part of new phase of globalization where the economic cooperation between countries and regions define the future of the respective economies. Due to its great economic and geo-strategic importance, CPEC has acquired global attention and analysts from all over the world are holding different opinions on this substantial economic corridor between China and Pakistan. This paper is a brief overview of the intra-regional connectivity that CPEC ensures and its impact on socioeconomic development of the entire region. This study evaluates the growth of energy sector, infrastructure development and advancements in connectivity in terms of transportation and communication as a result of this mega project. It also describes the inter-regional coordination within the country that will strengthen area-to-area bonding that is important for the uniform economic progress so far. Once the things start to move on smoothly and smartly, there is no ambiguity that this project will turn out as the socioeconomic revolution, mainly for Pakistan, then for China and obviously for the other countries of the region as well.

China and Pakistan Prepare to Establish Economic Corridor

Beijing and Islamabad have completed the groundwork for the implementation of the China-Pakistan Economic Corridor (CPEC). A final decision with a clear roadmap is expected during Chinese President Xi Jingping’s much-awaited visit to Pakistan in May 2015. The CPEC is the largest project not only in the relationship between the two states, but also in Pakistan’s history. The future of Sino-Pakistan relations will hinge upon corridor’s success.

China Pakistan Economic Corridor: Prospects and Challenges for Regional Integration

Arts and Social Sciences Journal, 2016

As a flagship of China's One Belt One Road initiative, China Pakistan Economic Corridor (CPEC) is pivotal to China's energy security owing to the growing row in the region of South China Sea among China and other regional and global players. The CPEC could bring economic avenues to Pakistan and can foster regional and cross regional economic and trade integration between South Asia, Central Asia, East Asia and West Asia. However, it is also surrounded by some serious challenges ranging from regional security environment, internal instability to political discontent among various political actors in the Pakistani polity.

China Pakistan Economic Corridor: Prospects and Challenges

Pakistan Social Sciences Review, 2020

This paper analyzes prospects and challenges for Pakistan at national and international levels for the creation of mechanism to defeat the contemplations of rivals. The China Pakistan Economic Corridor (CPEC) is being considered as a game changer project. It will be a source of bringing peace, harmony and prosperity not only in Pakistan but also in the entire region. It is a multidimensional developmental project in the global, regional, bilateral and domestic scenario. The power centers are being changed very rapidly due to CPEC, as many European countries are also interested in the project for their trade enhancement. The myth of "One Belt One Road" has international strategic implication. It would create opportunities not only for Asian, European and African states but also for Oceania through an effective diplomacy for the creation of new infrastructure and free trade zones. The role of international players to destabilize CPEC is also the burning question of the time that needs to be dealt with iron hands.

China – Pakistan Economic Corridor: An Opportunity for Central Asia?

In May 2017, China hosted an international summit in Beijing gathering 28 heads of state from four continents and representatives of various international organizations. The summit was devoted to the Belt and Road Initiative, referring to overland and maritime routes across the Eurasian landmass. One of the most significant moments of the summit was the meeting between China's and Pakistan's leaders and the signing of a new agreement (MoU), adding to the US$ 46 billion already pledged for the China-Pakistan Economic Corridor (CPEC), a network of rail, road and energy infrastructure. During the event, Pakistan's Prime Minister Nawaz Sharif met with the leaders of Kazakhstan, Uzbekistan, and Kyrgyzstan, requesting their investment in CPEC. BACKGROUND: CPEC is the flagship project under the Belt and Road Initiative and has been seen as a "game changer" in the regional geopolitical discourse since it was formally unveiled in April 2015. It has become the foremost bilateral initiative between China and Pakistan and has a budget of over US$ 46 billion. As part of this initiative, an opening ceremony was held on May 6, 2016 in the city of Sukkur in Pakistan's Sindh Province, marking the beginning of construction of a section of highway between Sukkur and the city of Multan, which will be part of a network of highways connecting the cities of Peshawar and Karachi.