China-Pakistan Economic Corridor (CPEC): Benefits and Challenges for Pakistan

Abstract

This paper dissects prospects and difficulties for Pakistan at public and global levels for the making of mechanism to defeat the considerations of opponents. The researcher discusses outstanding features of the China-Pakistan Economic Corridor (CPEC) and efforts to analyses the opportunities and challenges coming along its way. The project was launched after Chinese President’s visit to Pakistan in 2015 and project has so far reaped significant economic, external and strategic benefits for Pakistan, but with the CPEC faces a number of challenges. In this research highlights the significance of the CPEC in China’s Belt and Road Initiative (BRI) and focuses on the strategic significance of Gwadar port as well as the significance of the CPEC for both China-Pakistan that is providing the shortest connectivity to China with Central Asia, West Asia, South Asia and onward to Europe. Moreover, it emphasizes on how distance will be abbreviated for oil transportation from Gulf to China and will empower Beijing to assume a significant part as a significant import and export corridor in the world. It additionally resolves the inquiry concerning the import/export imbalance among China and Pakistan and features that the CPEC will also boost the bilateral trade. In this research has utilized a descriptive, comparative, analytical, and qualitative, approaches, through Graham Allison “Rational Actor Model”. Secondary data has been analyzed through document analysis. Pakistan has to face both challenges and benefits at the same time. Furthermore, the study examines various segments of the development and prospects of the CPEC and questions the threat perception for the game changer project the CPEC and how Pakistan can handle these threats. The role of international players to destabilize CPEC is also the burning question of the time that needs to be dealt with iron hands. This study will be useful for policy makers, diplomats and researchers.