One Belt and One Road: Does China-Pakistan Economic Corridor benefit for Pakistan’s Economy?

Abstract

The Islamic Republic of Pakistan and the People's Republic of China have adored long-lasting and friendly ties – regardless of their ideological differences, evident in their very names. This article discusses economic cooperation between China and Pakistan with Chinese investment in Pakistani infrastructural growth. The plan was successfully launched to establish an economic corridor between China and Pakistan for which the two countries have signed contracts on the proposal for Pakistan China Economic Corridor (CPEC). The challenges in the political, security, and economic fields include political instability and insecurity. However looking at the CPEC, China should not bound it to the bilateral relations, but mull it over with a regional and comprehensive vision. China should encourage the Economic Corridor projects with the assistance of its "resilient power" in energy, transportation and infrastructure along with the "flexible power" of the Chinese and Pakistani think tanks, mass media, educational exchanges, strong cooperation and make arrangements for the complete implementation of the "One Belt and One Road" initiative.

Keywords: CPEC, China-Pakistan, Bilateral Tarde, FTA, FDI, One Belt and One Road