China-Pakistan Economic Corridor: A Flagship and Exemplary Project of the Belt and Road Initiative
Author(s)
Muhammad Muzammil Zia , Kong Yusheng ,
Download Full PDF Pages: 235-244 | Views: 494 | Downloads: 156 | DOI: 10.5281/zenodo.5039971
Abstract
This paper aimed to provide input towards the question of what exactly constitutes the various aspects of CPEC in regards to project categorization and its potential implications on Pakistan’s economic development. CPEC essentially consists of four key areas, namely infrastructure, energy, industrial co-operation, and the minting of a deep-sea port in Gwadar Balochistan. The funding comprises some of the largest volumes of FDI Pakistan has received in decades, rendering it necessary to assess its potential implications with further examination of CPEC’s role as a niche of the Belt and Road Initiative. This paper aimed to perform a literature review in order to analyze and provide a comprehensive synopsis of the multifaceted distinctions between CPEC projects as well as their potential implications for Pakistan as a whole. The purpose of this study was to study the seven pillars of BRI including CPEC more specifically and uncovering of CPEC’s exact breakdown via compartmentalization of various projects, and a brief look at its exact consequences on the Pakistani economy via a comprehensive literature review. Our results showed that overall, CPEC being a flagship project of BRI fit squarely within the Government of Pakistan’s quest to improve the country’s regional connectivity as a part of the Vision 2025 sequence of programs and reforms. Uninterrupted energy supplies are likely to boost manufacturing output which in turn will benefit from the construction of a transport corridor, with the effects felt far and wide via an increase in induced business activity throughout Pakistan. Moreover, the resultant literature review revealed that multiple industrial sectors and economic clusters in Pakistan are likely to benefit from CPEC projects as a whole seeing as the projects allow for the country to actively develop an entire framework by which to conduct business through the provision of a secure energy and transport corridor, coupled with a massive upgrade in shipping and logistics capability through the construction of a port at Gwadar.
Keywords
China Pakistan Economic Corridor, Belt and Road Initiative, Transport Corridor, Economic Clusters, Secure Energy
References
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