THE IMPORTANCE OF CPEC FOR PAKISTAN
Often described as a game-changer by leaders and policymakers in China and Pakistan, CPEC is an important, ambitious, and most developed set of projects under BRI, consisting of four key components: the Gwadar Port, energy projects, transport infrastructure, and the creation of Special Economic Zones (SEZs) in Pakistan.
Under the umbrella of CPEC, China and Pakistan agreed to complete numerous projects to expand and enable mutual and international business and trade. China has allocated more than US $33.8 billion in several energy projects and US $11 billion to construct new roads and revamp the infrastructure. Furthermore, SEZs aim to enhance regional economic activity and international trade amongst Pakistan, China, and Eurasia.
The transport infrastructure projects connect the southern Gwadar port in Pakistans Balochistan province to Kashgar in western Chinas Xinjiang province through a network of roads, pipelines, and railway lines.1 For a detailed multidisciplinary overview of BRI and CPEC, readers may refer to two books co-edited by Yung-Hsiang Ying and this author, namely Chinas Belt and Road Initiative in a Global Context, Volume I: A Business and Management Perspective and Chinas Belt and Road Initiative in a Global Context