President Trump recent speech on Afghanistan termed Pakistan as a Sponsored state for terrorists which target the U.S. and Afghan forces across the border and wasted billions of dollars in Afghanistan, due to this situation counterterrorism and military aid is at stake. U.S aid to Pakistan has an average of total worth $2 billion annually which is being funded since 2002. The primary purpose of aid on reimbursing the military for support on tribal areas along the Afghan border securing Pakistan’s disaster relief and Nuclear Arsenal.
Pakistan and China set to lay down fibre optic cable from China to Rawalpindi and almost 15000 Chinese engineers and workers and planners are working on this project. Both governments working on developments and construction of new motorways and highways, paving a new Lahore-Karachi motorway and roadbed and up-gradation of ML-1 from Peshawar to Karachi, construction of new Gwadar airport and adding 16000 megawatts of coal, hydro and solar wind power from 13 new plants. CPEC is scheduled to be completed in 2030, with major projects to be completed in 2023. 19 projects under Early harvest program has been completed valued $18.5 billion.
Both countries will get benefit from CPEC to get sea access for it landlocked states and depressed western provinces and a shorter and secure route for its states for import of Fuel from Gulf countries. Due to the development of infrastructure, it will create 700,000 jobs and rise in 2.5 in GDP after two decades of economic stagnation.
China is introducing and building a new model termed as build and they will come model for delivering foreign aid and economic development. The success of CPEC will provide an early benchmark for Belt and Road Initiative which has a total worth of $1trillion in infrastructure and energy over 2013-2025 which will directly connect South Asia, Central Asia, Middle East, Europe and Africa.
The risk of China Pakistan Economic Corridor lies in the completion of projects and efficiency of politics, as well as the economy of the country, communication, conflicting trade and technical standards. Pakistan has many issues due to these problems but has a functioning democracy and educated bureaucracy.
Challenges which are slowing down the implementation of CPEC are: Shortage of electricity and capacity of electricity exceeds by 47000 megawatts throughout the year.
Theft of electricity and payment of bills is the major issue for the shortage of electricity.
Security is the major concern in Pakistan but now the situation is stable in Pakistan. Further, the Pakistan Army has deployed 14000 army personnel to protect CPEC projects.
Chinese materials and import have suffered the Pakistani community and reserves and put the pressure on the currency.
The Indo-Pacific freedom corridor is proposed by India and Japan has a similar structure of BRI which is focused on Southeast Asia.
History has some ambiguous benefits that when these great powers favour on poor countries to achieve political or security objectives. It’s hard for Pakistan to achieve maximum output from Pakistan for China. But CPEC projects gave a direct message to all Asia-Pacific powers can participate in the regional market to participate to comprise and achieve 80% market in the global market in the 21st century. If you are not a serious player, you can’t win.