China-Pakistan Economic Corridor (CPEC) as a Flagship of Chinese Belt and Road Initiative

Abstract

Purpose: The article deals with China-Pakistan economic corridor (CPEC), which is considered to be a flagship corridor under Chinese "The Belt and Road Initiative" (BRI), also known as "One Belt One Road" or "New Silk Road". Design/Methodology/Approach: The theme of this research allows to use a combination of various widely used methods and approaches. Classical scientific research methods such as: comparative method, statistical, system approach, structural and dynamic analysis form the methodological basis of the research. Content analysis and synthesis methods were applied to identify the ideological content and essence of China-Pakistan economic corridor. Findings: The authors identify the advantages and benefits that both Pakistan and China will gain. Further promoting of «westward» strategy, which facilitates the economic and social development of Western China, boost in export of capital, technology, production capacity are considered to give a new impulse of Chinese economy development. Practical implications: The authors investigate China-Pakistan economic corridor to be Beijing's most ambitious project so far and mark, that despite possible concerns and challenges, CPEC will succeed. Originality/Value: Analysis of China-Pakistan cooperation provides the understanding of China's interests in CPEC. The current achievements of CPEC prove it to be a flagship of Chinese Belt and Road Initiative.