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Arts and Social Sciences Journal

ISSN: 2151-6200

Open Access

China-Pakistan Economic Corridor and Its Social Implication on Pakistan: How Will CPEC Boost Pakistan├?┬ó├?Ô?Č├?Ô?ós Infrastructures and Overcome the Challenges?

Abstract

Riaz Ahmad and Hong Mi

This paper discusses the China-Pakistan Economic Corridor (CPEC) long-term infrastructural project as a major part of the One Belt One Road (OBOR) the major global initiative by the Chinese government, scheduled to complete by 2030. CPEC is a joint project that Beijing and Islamabad agreed to finance through Chinese investments utilizing investment loans largely by Chinese financial institutions; nevertheless, Pakistan will also be responsible for investing approximately 15 billion dollars on its own in the process. While the project has been welcomed by Greater Eurasia (including Russia, Iran, and Central Asia) besides the United Kingdom and Western European countries, albeit vehement opposition by India. Paper elaborates upon the positive and negative elements that will likely impact the project progress, from internal political, economic dynamics of Pakistan and consequent security challenges to the related transit tariff issues, quality labor force supplies, just as well the inter-provincial competition between Baluchistan and KPK (Khyber Pukhtoon Khwa) besides the reaction of some South Asian countries, namely, India and Bangladesh. It highlights the opportunities, challenges and the impact that this mega project will likely have to the existing socioeconomic infrastructure, job opportunities, poverty level index, and regional peace and security.

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