CHINA-PAKISTAN ECONOMIC CORRIDOR (CPEC’S) SOCIO-ECONOMIC IMPACTS ON PAKISTAN

Authors

  • Saddam Hussain Department of International economics& Trade, Business School, Hubei University, Wuhan, 430062, P.R. China
  • Ali Sohail School of Public Policy and Administration, Xi’an Jiaotong University, Xi’an, 710119, Shaanxi, China
  • Chunjiao Yu Open Economy Research Centre, Business School, Hubei University, Wuhan, 430062, P.R.China
  • Sadaf School of leadership , Riphah international university islamabad 44000,pakistan
  • Ayesha Zahid School of Journalism and Mass Communication, Shaanxi Normal University, Xian 710119, Shaanxi,

Abstract

CPEC being a mega project of the recent era not only in South Asia but throughout the world. CPEC is going to take place between Pakistan and China by bringing enormous economic betterment and lifestyle changes for the people living in Pakistan. Both countries, China and Pakistan are agreed to build one road one belt which is commonly known as China Pakistan Economic Corridor (CPEC) with the intentions to bring peace and prosperity as well as to enhance business activities by promoting trade with each other and with rest of the world, which will directly affect on economic growth. Being a mega economic project for both countries it will bring prosperity and economic stability. It will enhance Pakistan’s infrastructure (road, railway and telecommunication), overcome energy crises, develop trade, modernize and develop agriculture and manufacturing industry and mutual connectivity between people of both countries which is a very important factor for trade. China being the strongest economy of the present day will support the new economically arising country (Pakistan). China will pull Pakistan from the crises by applying modern technology and high financial support, which every country faces during the difficult time of raising its economy. This study helps to overlook and analyze the benefits of CPEC for the people of Pakistan.

Keywords: China Pakistan Economic Corridor, One Belt One Road, Gwadar, Socio-Economic Development

Published

2020-11-25

Issue

Section

Articles