China Pakistan Economic Corridor (CPEC) and its impacts on Pakistan Economy and Society
DOI:
https://doi.org/10.21015/vtess.v9i1.1005Abstract
China and Pakistan advocate long-term friendly relations - regardless of ideological differences, are obvious in their names. It is hoping that CPEC will strengthen the bilateral links between China and Pakistan by connecting Gwadar Port with Xinjiang Province China. Therefore, the development of the energy sector, road and railway infrastructure is ought to explain the progress of Pakistan, but the results will not mature overnight. Still counting on the challenges facing the end of Pakistan, financial ambiguity, inappropriate expectations, provincial competition and confrontation with special economic zones, internal security, cultural concerns, useless debt burden, development priorities, despite excessive domestic supplies, raw materials and Import of labor and the lack of income-generating plans are serious questions and concerns for this project. This article focuses the China-Pakistan-Economic-Corridor (CPEC), flagship project under the mega One Belt One Road (OBOR) initiative is not only the corridor in which Pakistan wants to change its economy, but also the project may undermine its financial and social structure. The paper also discusses economic cooperation between China and Pakistan, as well as China's investment in Pakistan's infrastructural growth and economic development.
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