onsdag 17. februar 2021

What Happened to the China-Pakistan Economic Corridor?

The China-Pakistan Economic Corridor (CPEC), one of the most ambitious components of Beijing’s Belt and Road Initiative, was announced to great fanfare in 2015. Since then it has consistently been held up as a “gamechanger” for Pakistan’s economy. But the road to completion has proved long and winding. Reports indicate that the pace of CPEC projects has been slowing down in Pakistan in recent years.

At the same time, China is the only country that is heavily investing in Pakistan. The slowdown of CPEC thus does not augur well for a cash-strapped country like Pakistan, which is plagued by countless issues, some due to its own conceived policies.