China-Pakistan Economic Corridor: a gateway to sustainable economic development

Abstract

Purpose The purpose of this paper is to discuss positive spillovers of this project, especially for Pakistan because the majority of the literature discusses challenges associated with China-Pakistan Economic Corridor (CPEC). Design/methodology/approach This study reviews the available literature to assess the role of CPEC in the sustainable economic development of Pakistan. Findings This study indicates that CPEC is an ambitious development project because it needs a larger restructuring of the economy of Pakistan and it will be productive with the successful blend of policy changes and participation of the business community in Pakistan. This project primarily creates a huge amount of foreign direct investment for Pakistan, at the same time, it will also create greater trade opportunities to China by giving access to a new market for its trading goods. Originality/value This study established that CPEC will improve the economic growth and trade, enhance regional connectivity, overcome energy crises, develop infrastructure and establish people-to-people contacts in both the countries, which will further help to improve the tourism sector.

China–Pakistan Economic Corridor (CPEC) development projects and entrepreneurial potential of locals

“…The CPEC project will be the alternative fastest and safest route for Chinese businesses, which will reduce the distance from approximately 12,500 to 2,700 km, which will also decrease high shipment cost and time (Shaikh et al, ). CPEC links Pakistan and China, through Gwadar port, Baluchistan province, Pakistan with China's Western region, Kashgar, Xingjiang province (Kousar, Rehman, Zafar, Ali, & Nasir, ). The CPEC project will begin from Gwadar, Baluchistan, Pakistan, and end in Kashgar, China, while passing through the Baluchistan, Sindh, Punjab, Khyber Pakhtunkhwa, and Gilgit‐Baltistan in the northern areas of Pakistan to reach in Khujrab region of China (Abid & Ashfaq, ).…”

China–Pakistan economic corridor projects development in Pakistan: Local citizens benefits perspective

“…Currently, under CPEC development, several projects are in progress including 1,000‐MV solar power in Punjab, 870 in Khyber Pakhtunkhwa, and three wind power projects in Sindh (Bhattacharjee, ). Consequently, until now, nearly 21 projects on energy production together with coal has been started, and if these mega projects completed on time, then 10,400‐MV energy will be available by March 2018 (Kousar, Rehman, Zafar, Ali, & Nasir, ). According to officials, Several CPEC projects will be completed till December 2019.For example, Karachi to Lahore 1,100‐km long motorway, up gradation of Karakorum highway between Rawalpindi and Khanjrab, Railway line between Karachi and Peshawar.…”

“…Among these ventures, China–Pakistan Economic Corridor (CPEC) is one in all of them. CPEC was officially declared when President General Pervez Musharraf met with President Hu Jintao at Beijing in 2003 (Kousar, Rehman, Zafar, Ali, & Nasir, ). It is the part of One Belt One Road (OBOR) project, which is initiated by the Chinese Government in 2013 (A. Hussain, ; E. Hussain, ).…”

“…Specifically, CPEC is the name of multiple projects including energy projects, health centers, education institutes, several economic zones, and interconnection of the road, train tracks in all over the Pakistan (Tehsin, Khan, & Sargana, ). CPEC is a mega project that is dreamed by the Chinese government and will be materialized by the Pakistani government, and its benefit will positively be transferred to the local Pakistani community (Kousar et al, ). Nevertheless, research findings related to CPEC projects and local community reactions and benefit are insufficient and controversial (Liaqat Ali, Mi, Shah, Khan, & Imran, ; T. N. Ali, ).…”

How Logistics Investment Arrangement is a Key Concern to China-Pakistan Economic Corridor (CPEC)? A Legal and Policy Analysis of CPEC Logistics Investment Model and Future Challenges for Pakistan

“…Their topographical closeness creates geo financial noteworthiness to their general relationship. Kousar et al (2018) claim that for the regular up gradation of the bilateral trade, the opposite sides in 1982 finished the notable road connectivity through Karakoram Highway.…”