Table of Contents
Pakistan and China have a glorious and remarkable friendship. Pakistan recognized China on its birth in October 1949 and started developing brotherly relationships. The heads of the governments and states of both countries have made many visits, during which China gave economic and technical aid to Pakistan in establishing industries, which included Taxila Industrial Complex and its affiliated plans, constructing Silk-Route Karakoram, setting up heavy tools factory at Landhi and Sports Complex in Islamabad.
Establishment & Goals of CPEC
After establishing China-Pakistan Economic Corridor (CPEC) which was initially proposed by Chinese Head of the government; Li Keqiang during his visit to Pakistan in May 2013, Pakistan and China entered a new era in their relationship. The value of CPEC projects is worth $62 billion as under the reports of 2017.
The foremost goal of CPEC is to modify Pakistan’s economy, to modernize and strengthen Pakistan’s infrastructure. It has become a monumental global brand of Pakistan that has grasped the attention of the world leaders and the big economies of the world are now searching for its shared future in CPEC. Bringing in entire equipment, technology, supervisory, and skilled labor manpower, which means that raised wages will lead to more employment. It may cause a slight drop in the unemployment rate of Pakistan.
But several journalists and economists cast a critical eye on the misguided skepticism surrounding the CPEC as another East India Company. They argued that CPEC could destroy the economy and society of Pakistan. They also believe that the agricultural lands will be handed over to Chinese enterprises to set up projects. They argue that Pakistan is already paying loans at an average of $5 billion per year and further loans will lead to an economic crisis which may knock Pakistan back into a recession. But these concerns are baseless and borderline ridiculous. It’s only natural for people with a history of subjugation to be wary of any foreign involvement.
Today the world has become much closer, other countries and states would rise in rebellion if such things happen. Besides, China had been suppressed by other world powers in the past. It wouldn’t do such a heinous crime on today’s date. China has already been an old investor in Africa. The Deputy Head of China, Li Jihan Zaho states that “Calling CPEC the other East India Company is totally preposterous and considered it the joke of the century.
Agriculture is the economic backbone of Pakistan and will remain as the main feature in CPEC’s next phase. For the well-functioning of CPEC, the Pak Army is playing an important role in its security.
Although CPEC is a game-changer for Pakistan and will help Pakistani traders to get access to huge Chinese markets which will remain open for many businesses in the future. China and Pakistan will join shoulders and
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