CHINA – PAKISTAN ECONOMIC CORRIDOR (CPEC)
OverviewAsia
is the biggest and largest continent with 60% of the total population
covering 30% of the total land area on the planet earth. It has the most
important sea routes which cover the major portion of the exchange of goods and
generation of the world’s economy. Likewise, Asia has a lion’s share in the natural
resources of the world which make it one of the biggest and leading economic regions in the
world.
On the other hand from the total population of the Asia continent, which is around 5 to 5.4 billion people, approximately 2 billion people are settled in South Asia including India, Pakistan, and Bangladesh which becomes one-fourth part of the global population. Identically, this part of the world has been suffering a lot due to a weak and unstable economy, especially after the invasion and colonial rule by the European nations particularly Great Britain.
In comparison with the post-colonial and colonial periods, pre-colonial South Asia used to be one of the richest parts of the planet sharing almost half of the total economy of the world. In the Eastern region of Asia, there lies the peoples’ Republic of China which is the second most populous country in the world after India with more than 1.4 billion population. This East Asian country (China) is the fastest-growing economy in the world at the moment.
Even during the COVID-19 pandemic situation, not only China has sustained its economic growth but has also improved a lot, particularly in comparison to other major countries of the world including the USA, UK, France, Germany, and Australia. Adding to it, China is emerging as a new economic power in the country by leaving the USA behind. In this connection, China has extended its markets from Africa to Europe and from Asia to Latin American countries.
China – Pakistan Economic Corridor (CPEC) is one of them which China
wants to convert into the world’s biggest economic hub and corridor to the
economic world. In this blog article, we shall discuss the CPEC and its
impacts on the South Asian region, Asia Continent and World. We shall also discuss
some of the major threats to this project as well as the USA’s all possible efforts
to China from emerging as a new economic power in the world. In the conclusion
part, we shall discuss CPEC’s impact on Pakistan and its economy in the future.
Introduction to CPEC
China-Pakistan Economic Cooperation (CPEC) “which if successfully implemented will prove as a game changer”, is a bilateral and regional economic corridor project between Pakistan and China that was initiated back in 2013. Initially, this project was worth $47 billion but later on, it was extended up to $60 billion with China as a major investor.
Although it is a regional corridor yet it will have so many positive economic impacts on Iran, Afghanistan, and some other countries in Central and South Asia. Basically, China wants to build different economic zones inside Pakistan including a modern transportation network system to connect Gwader & Karachi ports as well as numerous energy projects so that Chinese goods can easily be shipped to various regions of the world.
Similarly, China wants quick and cheap access to petroleum products (fossil fuels) from the gulf region for its industrial growth, power, and energy supply. CPEC project will not only provide quick access for China to Africa, Central Asia, and Middle East Asia as well as European markets but also strengthen its economy to emerge as a new economic power in the world by replacing the USA.
On the other hand, CPEC will leave ever-lasting impacts on the economy of Pakistan including bringing positive changes in the lives of common Pakistani people. Adding to it, CPEC will not only pave the way towards modern and new metropolitan cities inside Pakistan but will also bring revolutionary changes in the fields of science & technology, agriculture, industrialization, the energy sector, and commercial activities inside Pakistan and China.
However, CPEC is still in progress, and its early stage which yet to be fully functional and active after removing all the obstacles and hindrances which are coming their way. Some of the common but challenging hindrances are discussed below.
Balouch Nationalists, Militant Groups & Local Gwader Residents
Balouchistan province which is the center of CPEC has been remaining a great point of concern and hence hindrance due to a number of reasons including political instability, nationalist and separatist insurgency, the Afghan war on terror, and foreign hands and aid in destabilizing Pakistan and CPEC project. Indian spy Kulbhushan Jadhav’s catching back in March 2016 inside Balouchistan, itself reflects that India including USA & Israel doesn’t want to see the successful completion and implementation of the CPEC project.
Similarly, various funded
movements have been launched inside Balouchistan time and again, through
various nationalist parties and local residents to give the perception to the world
that locals, as well as the people of Balouchistan, are being deprived of their
fundamental rights. As a result of this CPEC project has been slow, steady, and delayed
which is a great concern for both Pakistan and China.
Political Instability & Its Impact on CPEC & Balouchistan
It is very unfortunate and one of the biggest problems of our country that we have been witnessing different political leadership crises and turmoil including the military establishment’s offensive and illegal role in forming and collapsing different governments in Pakistan and Afghanistan. Due to such a scenario, no political leader has been successful in peacefully resolving the Balouchistan issue through table talks and negotiations which is very much important in the larger interest of Pakistan and CPEC.
This is why foreign hands who want to see CPEC as a
disaster and failure, take full advantage of it and have been trying to exploit
the current situation of insurgency inside Balouchistan. It must be kept in
mind that the Balouchistan issue needs to be peacefully resolved at the wish and
will of the people of Balouchistan. Hence all sorts of legal reservations
must be addressed immediately including political instability in terms of
genuine political representation.
Islamabad's Dubious & Unclear Policy for CPEC
Islamabad’s role with regard to the CPEC project has been up and down due to a number of reasons in terms of financial and political pressure exerted by the USA, India, Israel, and some European countries. Particularly, the US has constantly been pressurizing Pakistan through FATF’s Grey List, IMF, World Bank, and devaluation of Pakistani currency (Rupee) against the US dollar ($).
Comparably, the US has been trying to fail the CPEC project through some Pro-US powerful politicians, bureaucrats, businessmen, media owners, and even retired army generals who all have assets and interests either inside the US or in Europe.
Because of this, there has grown a trust deficit situation between Pakistan & China, which by no means can be beneficial for both countries. Therefore, Islamabad has to be very specific and crystal clear in its approach toward the CPEC project because such pressure tactics are obvious and may even come in the future also.
Hence it
is the responsibility of Islamabad to remain constant and dedicated in its long-term planning concerned to the CPEC project including dealing the difficult and
pressure situations tactfully and effectively.
Conclusion
From the above-discussed ground realities, my analysis of the CPEC project is precise and concrete that CPEC without any doubt will prove to be a new world economic and political order if it gets successfully completed in near future. However, our politicians, businessmen, bureaucrats, and generals need to prefer the national interest over their personal interests so that the CPEC project after its completion can be successfully implemented not only in the region but in the whole world.
At the same time, we need to address the local issues, particularly inside Balouchistan with a positive and peaceful approach including overcoming their genuine concerns so that internal instability can be removed once and for all. Last but not least, we need to build strong and ever-lasting relations with China which has always been a beneficent friend of Pakistan in difficult times and situations.
Certainly, this doesn’t mean that we have to limit our relations with USA and Europe rather we must have better relations with them all but on equality and acceptance of sovereignty and safeguard to national interest basis.
Author Raja Bahar Khan Soomro
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