A Chinese Perspective on CPEC: Background, Benefits and Risks

Abstract

Abstract: 

China-Pakistan Economic Corridor (CPEC) is the flagship project in Silk Road Economic Belt programme (SREB), which is half of the grand strategic plan put forward by Chinese President Xi Jinping— ‘One Belt One Road’ vision (OBOR). OBOR is China’s effort to contribute to global prosperity by pushing for better cooperation among countries in Asia, Europe and Africa, and especially by helping developing countries to grow economically. As one of the earliest OBOR programmes, CPEC is uniquely significant. It can contribute to regional economic connectivity and growth, and therefore, may be viewed as a catalyst for social stability in the region. This article endeavours to analyze the significance of CPEC and SREB/OBOR in the present geopolitical picture of Asia-Pacific. After a brief overview of the progress of CPEC, the author examines its significance for China, Pakistan and other nations, and the political, security, economic and external risks which CPEC may confront, including political, security, economic risks and the risk of potential.