Abstract
This chapter offers a critical overview of the Belt and Road Initiative (BRI), which is a Chinese development strategy that focuses on economic, cultural and political cooperation between China and the world through the land-based and maritime Silk Road. In particular, it discusses the Pakistani section of the BRI, known as the China Pakistan Economic Corridor (CPEC). The chapter discusses the financial and other aspects of CPEC, highlights its significance for China and Pakistan, and also outlines some key issues and challenges.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Ahmed, M. (2017, September 12). CPEC Opens Door to Golden Circle of Trade for Pakistan. The News. Retrieved from https://www.thenews.com.pk/print/228827-CPEC-opens-door-to-golden-circle-of-trade-for-Pakistan.
APP (Associated Press of Pakistan). (2016, December 25). CPEC to Create over 700,000 Direct Jobs. Retrieved from https://www.app.com.pk/cpec-to-create-over-700000-direct-jobs/.
APP (Associated Press of Pakistan). (2017, June 6). CPEC Projects Create over 30,000 Jobs: Officials. Retrieved from https://www.app.com.pk/cpec-projects-create-over-30000-jobs-officials/.
Arduino, A. (2017). China’s Belt and Road Initiative Security Needs: The Evolution of Chinese Private Security Companies. RSIS Working Paper No. 306. Singapore: Nanyang Technological University.
Arifeen, M. (2017, March 20). Possible Benefits and Risks in CPEC Projects. Pakistan & Gulf Economist. Retrieved from http://www.pakistaneconomist.com/2017/03/20/possible-benefits-and-risks-in-cpec-projects.
Ashraf, M. (2017, August 25). The Tale of CPEC and Balochistan. Pakistan Today. Retrieved from https://www.pakistantoday.com.pk/2017/08/25/the-tale-of-cpec-and-balochistan.
Bokhari, F. (2016, July 21). China Urges Pakistan to Give Army Lead Role in Silk Road Project. Financial Times.
BR. (2016, December 23). ‘Pakistan’s Labour Costs Lower than India’s and China’s,’ Says Lead Economist, World Bank, South Asia Region. Business Recorder. Retrieved from http://fp.brecorder.com/2016/12/20161223116449/.
Brunner, H. (2013). What Is Economic Corridor Development and What Can It Achieve in Asia’s Subregions? ADB Working Paper Series on Regional Economic Integration. Retrieved from https://www.adb.org/sites/default/files/publication/100110/reiwp-117-economic-corridor-development.pdf.
China Daily. (2016, November 15). Key Part of Pakistan Economic Corridor Opens Up.
Dawn. (2016a, November 13). ‘Today Marks Dawn of New Era’: CPEC Dreams Come True as Gwadar Port Goes Operational. Dawn. Retrieved from https://www.dawn.com/news/1296098.
Dawn. (2016b, January 28). Gwadar to Get First SEZ under CPEC. Retrieved from https://www.dawn.com/news/1235803.
Dawn. (2018, February 9). China Agrees to Accommodate Pakistan’s Concerns on FTA. Retrieved from https://www.dawn.com/news/1388207.
Deloitte. (n.d.). How Will CPEC Boost Pakistan Economy? Retrieved from https://www2.deloitte.com/content/dam/Deloitte/pk/Documents/risk/pak-china-eco-corridor-deloittepk-noexp.pdf.
Ebrahim, Z. (2015, April 20). China’s New Silk Road: What’s in it for Pakistan? Dawn. Retrieved from https://www.dawn.com/news/1177116.
Economic Times. (2016, May 19). Pakistan-China 820-Kilometre-Long Optical-Fibre Cable Project Launched. Retrieved from http://telecom.economictimes.indiatimes.com/news/pakistan-china-820-kilometre-long-optical-fibre-cable-project-launched/52349319.
Gishkori, Z. (2015, April 22). Army Assigned Security of Chinese Engineers. The Express Tribune. Retrieved from https://tribune.com.pk/story/873889/army-assigned-security-of-chinese-engineers/.
Google. (2018). Google Map Data. Beijing to Kashgar. Retrieved from https://www.google.com/maps/.
Hsu, T. (2017, January 14). How China’s Asian Infrastructure Investment Bank Fared Its First Year. Forbes. Retrieved from https://www.forbes.com/sites/sarahsu/2017/01/14/how-chinas-asian-infrastructure-investment-bank-fared-its-first-year/.
Iqbal, S. (2017, August 6). Trade Balance Tilts Further in Beijing’s Favour. Dawn. Retrieved from https://www.dawn.com/news/1349800.
Irshad, M., Xin, Q., Xuan, L., & Arshad, H. (2016). Deltoid Analysis of Pakistan-Asean-China Free Trade Agreements and Opportunities for Pakistan. Asian Economic and Financial Review, 6(5), 228–237.
Javaid, U., & Javaid, R. (2016). Strengthening Geo-Strategic Bond of Pakistan and China through Geo-Economic Configuration. Pakistan Economic and Social Review, 54(1), 123–142.
Johnson, K. (2016, April 12). Expanded Chinese-Operated Pakistani Port on $46 Billion Economic Corridor ‘Almost Ready’. Reuters. Retrieved from http://in.reuters.com/article/pakistan-china-ports/expanded-chinese-operated-pakistani-port-on-46-billion-economic-corridor-almost-ready-idINKCN0X91PT.
Khan, A. (2015, May 1). Nepra Accepts Tariff Petition of Chinese Firm for Power Plant. The Nation. Retrieved from http://nation.com.pk/business/01-May-2015/nepra-accepts-tariff-petition-of-chinese-firm-for-power-plant.
Khan, S. (2016). Impact of Monetary Policy on Investment, Growth and Balance of Payments in Pakistan. Journal of Business Strategies, 10(1), 41–75.
Kiani, K. (2015, October 5). Chinese-Led Consortium Termed Lowest Bidder for Power Project. Dawn. Retrieved from https://www.dawn.com/news/1210939.
Kiani, K. (2017a, May 8). Power Cuts Return as Shortfall Touches 7,000MW. Dawn. Retrieved from https://www.dawn.com/news/1331738.
Kiani, K. (2017b, August 4). Power Consumers to Pay Security Cost of CPEC Projects. Dawn. Retrieved from https://www.dawn.com/news/1349492.
Lingliang, Z. (2016). Conceptual Analysis of China’s Belt and Road Initiative: A Road Towards a Regional Community of Common Destiny. Chinese Journal of International Law, 15(3), 517–541.
Mourdoukoutas, P. (2017, January 8). China Wants Russia to Calm India and Save CPEC. Forbes. Retrieved from https://www.forbes.com/sites/panosmourdoukoutas/2017/01/08/china-wants-russia-to-calm-india-and-save-cpec/.
MSCI. (2017). Market Classification. Modern Index Strategy Indexes. Retrieved from https://www.msci.com/market-classification.
Pakistan Observer. (2017, June 20). CPEC One of Best Performing Projects of Belt and Road Initiative: Lijian. Retrieved from http://pakobserver.net/cpec-one-best-performing-projects-belt-road-initiative- lijian/.
Pantucci, R., & Lain, S. (2016). VI. Silk Road Security. Whitehall Papers, 88(1), 69–94.
PCN (Pak China News). (2017, June 8). CPEC Projects Create over 30,000 Jobs: Officials. Retrieved from http://pakchinanews.pk/cpec-projects-create-over-30000-jobs-officials/.
PwC. (2017a, February). The World in 2050 – Summary Report. PricewaterhouseCooopers. Retrieved from http://www.pwc.com/gx/en/world-2050/assets/pwc-world-in-2050-summary-report-feb-2017.pdf.
PwC. (2017b, June). Repaving the Ancient Silk Routes. PricewaterhouseCooopers. Retrieved from https://www.pwc.com/sg/en/publications/assets/gmc-repaving-the-ancient-silk-routes-2017.pdf.
Ramay, S. (2016). Policy Brief China Pakistan Economic Corridor: A Chinese Dream Being Materialised through Pakistan. Sustainable Development Policy Institute (SDPI). Retrieved from https://sdpi.org/publications/files/China-Pakistan-Economic-Corridor-(Shakeel-Ahmad-Ramay).pdf.
Rana, S. (2016, June 9). $8.2b Railtrack Upgrade Project Wins Go-Ahead. The Express Tribune. Retrieved from https://tribune.com.pk/story/1119229/8-2b-railtrack-upgrade-project-wins-go-ahead/.
Sawas, A., & Anwar, N. (2017, July 20). CPEC: The Growing Resentment and Resistance Among Poor Pakistanis Can Cost China Dearly. Quartz India. Retrieved from https://qz.com/1061524/why-are-indian-banks-harassing-their-customers-over-aadhaar/.
SEZ. (2017). Special Economic Zones. Web Site of the Planning Commission of Pakistan. Retrieved from http://cpec.gov.pk/special-economic-zones-projects.
Shah, S. (2016, November 13). Chronology of Major Terror Incidents in Balochistan. The News. Retrieved from https://www.thenews.com.pk/print/164567-Chronology-of-major-terror-incidents-in-Balochistan.
Siddiqui, S. (2017a, April 12). CPEC Investment Pushed from $55b to $62b. The Express Tribune. Retrieved from https://tribune.com.pk/story/1381733/cpec-investment-pushed-55b-62b/.
Siddiqui, S. (2017b. January 20). PSX Becomes Regional Capital Market; May Launch CPEC Bonds. The Express Tribune. Retrieved from https://tribune.com.pk/story/1301852/psx-becomes-regional-capital-market-may-launch-cpec-bonds/.
Siddiqui, S. (2017c, March 12). Pakistan Will Be Paying China $90b Against CPEC-Related Projects. The Express Tribune. Retrieved from https://tribune.com.pk/story/1352995/pakistan-will-paying-china-90b-cpec-related-projects/.
SOP. (2013, August 6). Scholars from China and Pakistan Discuss Opportunities and Challenges of China Pakistan Economic Corridor. Senate of Pakistan.
Swaine, M. D. (2015). Chinese Views and Commentary on the ‘One Belt, One Road’ Initiative. China Leadership Monitor, 47(2), 1–24.
Syed, S. T. H. (2016, July 24). Energy Security: Development in CPEC vis-a-vis Western Angst. Foreign Policy News. Retrieved from http://foreignpolicynews.org/2016/07/24/energy-security-development-cpec-vis-vis-western-angst/.
Syed, J., Pio, E., Kamran, T., & Zaidi, A. (Eds.). (2016). Faith-Based Violence and Deobandi Militancy in Pakistan. Basingstoke: Palgrave Macmillan.
The Express Tribune. (2016, August 5). More than One Million Tourists Visited Northern Areas of Pakistan This Season. Retrieved from https://tribune.com.pk/story/1156578/1-million-tourists-visited-northern-areas-ptdc/.
The News. (2016, April 4). Special Economic Zones Approved. Retrieved from https://www.thenews.com.pk/print/110085-Special-economic-zones-approved.
Tiezzi, S. (2014, February 20). China, Pakistan Flesh Out New ‘Economic Corridor’. The Diplomat. Retrieved from https://thediplomat.com/2014/02/china-pakistan-flesh-out-new-economic-corridor/.
TOI. (2017, May 25). CPEC Western, Central and Eastern Routes Construction Status Overview. Times of Islamabad. Retrieved from https://timesofislamabad.com/25-May-2017/cpec-western-central-and-eastern-routes-construction-status-overview.
Weijia, H. (2016, September 13). Increased Ties with Southeast Asia Don’t Detract from China’s Goals in the CPEC. Global Times.
Wolf, S. O. (2016). China-Pakistan Economic Corridor: Civil-Military Relations and Democracy in Pakistan. SADF Working Paper, No. 2.
World Bank. (2017). China: Country Data. Retrieved from https://data.worldbank.org/country/china.
Yousafzai, F. (2017, May 25). Long-Term CPEC to Bring $300bn Investment. The Nation. Retrieved from http://nation.com.pk/national/25-May-2017/long-term-cpec-to-cost-a-whopping-300b.
Zhaoli, L. (2013, July 30). Economic Corridor Will Be Lever for All of South Asia. Global Times. Retrieved from http://www.globaltimes.cn/content/800223.shtml.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2020 The Author(s)
About this chapter
Cite this chapter
Syed, J. (2020). China’s Belt and Road Initiative: A Pakistani Perspective. In: Syed, J., Ying, YH. (eds) China’s Belt and Road Initiative in a Global Context. Palgrave Macmillan Asian Business Series. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-18959-4_2
Download citation
DOI: https://doi.org/10.1007/978-3-030-18959-4_2
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-18958-7
Online ISBN: 978-3-030-18959-4
eBook Packages: Business and ManagementBusiness and Management (R0)