China – Pakistan economic corridor: a harbinger of economic prosperity and regional peace

Abstract

AbstractProvincial connectivity and growth are connected to visualization of mutual progress and economic development. This is the viewpoint behind the establishment of China-Pakistan Economic Corridor (CPEC). Developing new transport infrastructure, Gwadar Port Projects and several energy generating projects, are one of the key projects of CPEC, “All Weather Strategic Friendship” is therefore proved for Pakistan and China. China’s pilot project of “Belt and Road Initiative” is the key plan, which led to the development of CPEC. It is expected from CPEC that it will reduce the transportation cost of China by providing a shorter route for China’s trade to Persian Gulf and it will provide a solution to the energy shortfalls in Pakistan. Moreover, CPEC’s projected prospects of economic advancement, there are some economic, security and political threats in Pakistan. This paper proposes to illuminate the significant Geo-strategic importance, opportunities and challenges for China Pakistan Economic Corridor, and it envisages to broaden the base, by including energy rich, Tajikistan economic role model Turkey and strategically located Iran. Hence, this paper provides a holistic view of previous researches on the planned subject and is not involving any data analysis as existing researches had used for analyzing a review of prospects and challenges.