China Pakistan Economic Corridor: A Voyage to Shared Destiny (original) (raw)
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The China–Pakistan Economic Corridor (CPEC): challenges and prospects
Area Development and Policy, 2018
China-Pakistan Economic Corridor (CPEC) is believed to be a game changer for the whole region. Presently, some extra regional powers are also interested in taking benefits from this El-Dorado. In this scenario the phenomenon of this corridor is believed to have some genuine prospects and challenges. Where there some challenges are directly associated with the security of Pakistan there is also leeway of economic and social challenges. In any case, the first question of security is nevertheless related to Indian factor. Can India help Pakistan in making this project pragmatic for the whole region? Can Indian allies/buddies; in special context of War on Terror (WOT); USA and Afghanistan help Pakistan in making the deal prudent? In this contemporary era, security of any object is directly associated with economic affairs, hence the economic aspect of the same is worth discussing. What are the economic benefits of the huge partnership for Pakistan since the economy of Pakistan is still not developed? These are some of the pertinent enquiries which need to be probe into and this study will be throwing light on all these aspects.
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: 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: 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 (CPEC) its importance and challenges
China Pakistan Economic Corridor is a historical initiative that connects the people of China and Pakistan, facilitates various opportunities for these countries. It connects people in different ways, coordinates policies of governments, financial integration through cross border business, productivity and regional energy security. This study will base on secondary data and also analyse the risks and challenges associated to CPEC initiatives implementation. It suggests that strong coordination between China Pakistan is necessary to get full fruits of this initiative through supportive law, policy, rules and regulation, proper strategy implementation, transfer procurement system, sincere consideration on political, financial, environment and social factors.
2019
The article is intended to find out the geopolitical implications, regional constraints and benefits of China-Pakistan Economic Corridor. Researcher reviewed both published research articles and books to find out geopolitical implication, regional constraints and benefits of China-Pakistan Economic Corridor. For this purpose, researcher also reviewed newspapers articles and published reports by government and non-governmental stakeholders working on CPEC. Review of the articles and reports indicated that CPEC had enormous benefits not only for China and Pakistan but also for the whole region. But different internal and external stakeholders are not in favor of successful completion of this project. Extremism, sense of deprivation, lack of political consensus, political instability are some of the internal constraints. On the other hand, Afghanistan, India, Iran, UAE and USA are posing constraints to halt the successful completion
China-Pakistan Economic Corridor: Perils and Prospects
The relations between Pakistan and China are at the center of discourse among international China watchers. This study focuses on China-Pakistan Economic Corridor and attempts to explore the perils and prospects in the way of this grand initiative. This study argues that though CPEC offers more opportunities to Pakistan given the global connectivity of trade and investment by China yet the major question is how Pakistan and China bring this vision into reality keeping in view the changing geopolitics in the South Asian region. Pakistan and China should adopt a sagacious and more nuanced approach; move ahead with a great caution and care.
China Pakistan Economic Corridor: A Win-Win Approach in a Zero-Sum Regional Environment
Journal of Pakistan-China Studies (JPCS)
Pakistan, due to its geostrategic existence, became a fulcrum of the massive Belt and Road Initiative (BRI) through CPEC. The project is anticipated to bring socio-political and economic stability in the region. The project is supposed to revitalize the historical Silk Rout to knock down the social, political, and economic hindrance among Asia, Africa, and Europe. This revolutionary and hi-tech Win-Win enterprise is professed as “the harbinger of a new epoch of congruence and integration” (Mehmood & Sabir, 2020) for Pakistan. CPEC is intended to unlatch many commercial routes across China, South and Central Asia, the Middle east and European region. China is going to have quicker and accessible trade rout with Persian Gulf and other resourceful regions. Pakistan would have enhanced economic stability through Gawadar Port Projects, infrastructural development, economic zones, technological assistance, and other energy generating arrangements. This paper tends to discuss the rudiments...
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 ...