Strategies for Accomplishing the Benefits of China-Pakistan Economic Corridor for Pakistan

Abstract

CPEC represents a new form of China-Pakistan alliance with the aptitude to broaden and further enhance the political and economic ties of both these countries through mutual trade and development. The total projects, (presently) worth US$ 70billion offer an all times biggest opportunity to Pakistan to tackle the main hitches to its economic development i.e. energy crisis, poor infrastructure, low foreign direct investment (FDI), limited industrial production, limited and old fashioned  technology , unemployment and security issues etc. CPEC’s estimated socio-economic changes is going to bring harmony, contentment and stability in the country in general and particularly in the undeveloped and retrograded provinces like Baluchistan and somewhat khaiber Pukhtunkhwa (KPK) by providing employment opportunities in different commercial, construction and production activities. Despite the substantial consequences of CPEC, the project is collared by various internal and external confronts and disputes like India’s stances on the project, terrorism and instability of Afghanistan and its spillover to Pakistan and feeling unsecure of other countries in the region, Internally political conflicts between the provinces, security challenges and political controversies regarding the route selection etc. which are to be coped with by Pakistan so that to execute of the mega project of CPEC a beneficial endeavor for Pakistan.

Keywords: CPEC, OBOR, Silk Rode, Economic Policy, Foreign Policy

DOI: 10.7176/JESD/12-2-07

Publication date: January 31^st 2021