China-Pakistan Economic Corridor: Ensuring Pakistan’s Economic Benefits

Abstract

The China-Pakistan Economic Corridor (CPEC) is a well-crafted economic partnership between China and Pakistan which is expected to bring economic development and prosperity not only for the two neighboring countries but also for the whole South Asia. It is considered central to China-Pakistan relations and the CPEC will link Kashgar to Gawadar port through the extension of Silk Road initiative which is widely known as Belt and Road Initiative (BRI). With the investment of 46 billion US dollars, its completion is expected by 2030. CPEC is the most discussed and debated economic partnership and it has great geostrategic importance for Pakistan to counterbalance Indian influence in South Asia. However, the focus on geopolitical and location of the route has been dominated the important questions concerning “How Pakistan should ensure its economic benefit out of this mega project?” This paper, therefore, aims to develop a theoretical framework and put forward relevant recommendations on how Pakistan can ensure its economic benefits as compared to the forecasted economic and political benefits of China and the challenges ahead.