Abstract
The program of CPEC is the talk of the town as it is the landmark cooperation for the economy of Pakistan. It is the evidence of strong China-Pakistan friendship but it may test this friendship as Pakistan is going through difficult economic phase. The program encounters a vogue of debate since its inauguration due to its opportunities and associated risks. This study is an attempt to figure out a global perspective of corridors and the differences and similarities of CPEC with these global corridors. We have taken various corridors from Asia, Africa and Europe and highlighted the challenges and policy interventions of the respective corridors. This exercise allows the study to develop an analytical framework to introduce relevant soft interventions at different stages of long-term plan of CPEC. Keywords: CPEC, Global Corridors, Regional Connectivity, Framework, policy interventions. DOI: 10.7176/JESD/10-21-01 Publication date: November 30th 2019
Highlights
An economic corridor is a programmatic and conceptual model for shaping physical and socio-economic outcomes
We develop an analytical framework of China Pakistan Economic Corridor (CPEC)
The novelty of the study is that this study aims to fill a gap in the policy initiative for CPEC by performing a mapping exercise of global corridors
Summary
An economic corridor is a programmatic and conceptual model for shaping physical and socio-economic outcomes. In the short-run, there is no any significant initiative under CPEC offering institutional capacity, provision of stable environment to businessmen for more investments, synchronized industrial and urban settlements, institutional framework for implementation, social and environmental sustainability and empowerment of private sector. All these aspects create challenges for the success of CPEC in Pakistan. 3.2 CPEC and African Corridors Table 6 reveals that the continent of Africa is more interested in developing trade and transport corridor as the infrastructure facilities in Africa are poor and the region is lagged behind in terms of trade and regional connectivity. The international lobby of USA, India and Afghanistan is persistently opposing the project of CPEC blocking the economic integration perspective of CPEC (Abid & Ashfaq, 2015)
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