Comparatives of CPEC in Region and its Future

Abstract

China-Pakistan Economic Corridor (CPEC) was launched in 2015 when 51 agreements and MoUs (Memorandums of Understanding) worth USD 46 billion were signed between China and Pakistan. This grand-scale bilateral project is a flagship constituent of China’s Belt and Road Initiative (BRI). CPEC started with the goal of modernizing Pakistan’s road, rail, air, and energy transportation systems and enhancing connectivity between its Gwadar and Karachi ports to the Chinese province of Xinjiang and beyond. For Pakistan, CPEC not only meant an opportunity to address its existing challenges like the energy crisis but also a golden moment to emerge as a hub for economic activities in the region. This article discusses comparatives in Geo-Strategic countries, which can suggest the future course of CPEC projects. India, Russia, and Iran have agreed in 2000 to construct a route between Mumbai and St-Petersburg through Tehran and Moscow to facilitate the movement of energy resources from Central Asia. Likewise, China-Pakistan Corridor will increase economic activity between both countries and the region. This Corridor may also be beneficial to “String of Pearls” that China’s “culture” to save its sea lives of communication catering to protect oil and gas supplies, which are emerging from the Gulf of Persia, Middle East, and China. Investors will take advantage of various economic-related activities to promote the agriculture industry, tourism, construction activities, vehicle industry, information technology, etc. Corridors will fulfil the energy resource needs of many countries through the Caspian Sea and Central Asian Republics. However, this project is facing internal and external threats, Pakistan is facing terrorist attacks, and the Chinese province Xinjiang is facing threats. Serious security threats to this project are likely to emanate from Pakistan, Afghanistan, and Iran. The Uighur terrorists have a close relationship with the Taliban in FATA, which is a serious and adverse threat to Chinese interests in Pakistan. This thesis is an effort to find reasons and suggest suitable measures for the Government to sort out challenges to avoid delays in the implementation and completion of the project.