Analyzing the Strategic and Economic Prospects of China-Pakistan Economic Corridor

Abstract

CPEC is a mega investment project, termed as a key to rapid economic growth of Pakistan. It is an economic corridor providing connectivity to China, building around which Pakistan is believed to harness economic dividends as time passes. The project has great strategic significance and it contains enormous economic prospects, thus is vital for both the countries. Though, CPEC is not completed yet, it has already started contributing to Pakistan’s economy as investment in energy projects has increased electricity supplies. CPEC has attracting private sector investment in to Pakistan, which as per official estimates, is expected to boost economic growth rate to 5.5 percent in the near future. While CPEC is a game changer for the development, government needs to pay attention to develop human capital (health, education, trainings and skills) and infrastructure (western route) in order to develop lagging regions and to improve the living standard of people living there.