The Economic Corridor Between China and Pakistan has an Impact on Pakistan's Economy

Abstract The traditional vital and political ties between China and Pakistan have now been formalized into a two-way financial partnership. The establishment of the China-Pakistan Economic Corridor (CPEC) is a significant achievement that has effectively transformed this traditional partnership into...

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Bibliographic Details
Published in:Journal of statistics (Lahore) 2018-12, Vol.25, p.49
Main Authors: Zubair, Muhammad, Aqib Ali, Naeem, Samreen, Jamal, Farrukh, Anam, Sania, Bukhari, Syed Adnan
Format: Article
Language:English
Subjects:
Armed forces
Impact analysis
International relations
Partnerships
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Summary:Abstract The traditional vital and political ties between China and Pakistan have now been formalized into a two-way financial partnership. The establishment of the China-Pakistan Economic Corridor (CPEC) is a significant achievement that has effectively transformed this traditional partnership into a new monetary skyline with specific goals such as expanding the framework, facilitating trade, and collaborating on energy within a two-sided structure. The purpose of this hypothetical paper is to discuss several overflows of this undertaking, notably for Pakistan, since the majority of the writer is discussing CPEC problems. This analysis reveals that CPEC is a long-awaited development project since it necessitates a larger rebuilding of Pakistan's economy and will be beneficial with a successful combination of numerous changes and economic interests in a local location in Pakistan. Although this initiative primarily generates a large amount of fresh direct investment for Pakistan, it will also offer up more significant trade opportunities for China by providing access to a new market for trading goods. According to the report, CPEC would focus on financial development and trade, upgrading local networks, combating energy emergencies, fostering foundation growth, increasing individual-to-individual connections in both countries, and improving tourism industry sectors.
ISSN:1684-8403