Effects of the China-Pakistan Economic Corridor (CPEC) on the Economies of China and Pakistan
DOI:
https://doi.org/10.61506/01.00134Keywords:
CPEC, Economic Development, Impacts on China, Impacts on PakistanAbstract
China-Pakistan Economic Corridor (CPEC), which is an infrastructure and economic development project initiated by China in Pakistan in 2013. The project aims to connect China's western province of Xinjiang to the Pakistani port of Gwadar through a network of roads, railways, pipelines, and power plants. The CPEC is expected to bring several benefits to both China and Pakistan, including expanding China's economic and geopolitical influence in the region and addressing Pakistan's chronic infrastructure deficits, creating new jobs, and attracting foreign investment. The CPEC can also help to alleviate China's domestic overcapacity issues and reduce its dependence on the South China Sea for its energy imports. Moreover, it can improve Pakistan's regional and global connectivity and enhance its geopolitical importance as a gateway to South Asia and the Middle East. However, the success of the CPEC will depend on various factors, including political stability, security, and effective implementation of the project. Overall, the CPEC represents a win-win scenario for China and Pakistan, as it can provide economic benefits to both countries while promoting regional connectivity and integration.
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