China–Pakistan Economic Corridor (CPEC): Regional Cooperation in the Wider South Asian Region

Abstract

Regional cooperation in South Asia has focused on collective efforts to overcome mostly weak, congeneric economies, political fragmentation, socio-religious cleavages and the deep-rooted conflicts that exist among its member states and societies. To enhance connectivity, the idea of an Economic Corridor is finding its way into foreign policy strategies as it becomes a buzzword in plans for stimulating economic growth and deepening integration of Asia’s sub-regions. This idea has taken root early on in South East Asia, spearheaded by the Greater Mekong Sub-regional initiative in 1992. In South Asia, the prominence of economic corridors is a more recent phenomenon, and currently the most advanced example is that of the China-Pakistan Economic Corridor (CPEC), a development project initiated by Beijing. But despite the enthusiasm in Islamabad about the domestic and international economic benefits, skepticism remains about the regional impacts of CPEC in Pakistan’s neighborhood. Against this backdrop, the chapter sheds light on involved interests and challenges and addresses the puzzle of how the CPEC can serve as a pioneer project for regional economic cooperation and integration beyond the Pakistan–China nexus. In other words, will this bilateral endeavor be an impetus or rather another hindrance towards more connectivity in South Asia?