Analysis of Chinese Economic and National Security Interests in China- Pakistan Economic Corridor (CPEC) under the Framework of One Belt One Road (OBOR) Initiative

Abstract

The China-Pakistan Economic Corridor (CPEC) is a lead project of "One Belt One Road (OBOR) Initiative" formally announced in April 2015. The multibillion US Dollar project of CPEC offers much needed avenues of economic growth and political stability for Pakistan and the region at large. Much is known about the promises which the project offers to Pakistan, however, very little academic discussion is found on the aspects that what benefits China will accrue being the financer of the project. Therefore, this paper is an attempt to analyze Chinese economic and geo-strategic objectives from the CPEC, carrying out discussions under the broader framework of OBOR Initiative. The study uses qualitative methods of investigations to find out some of the very important Chinese ambitions from the Belts and Roads Initiative. The project is the practical manifestation of the Chinese vision of "Peaceful Rise" and regional integration which is expected to usher a win-win situation for the partnering countries. The paper concludes that if the perceived objectives are attained, it will prove to be a "game changer" for the region and World at large, marking a new era of World Development led by China.

Maritime trade in the Indian Ocean: value-focused thinking for BRI and CPEC by employing A’WOT hybrid technique

“…A large segment of seaborne trade will be diverted to land based routes due to distance and cost effectiveness. This route would not only be beneficial for Pakistan but also gives enhanced trade connectivity to China for Europe, America and Africa with reduced distance and security threats due to blockage of Malacca Strait in some unforeseen scenarios [19]. This indicates relatively more opportunities for China than Pakistan (OC1, OC2, OC3, OP3 & OP7), as shown in Figure 2.…”

“…BRI and CPEC interventions will help China to expand and sustain its extraordinary social and economic development and GDP growth (SC1) that is achieved over the last fifteen years [19]. China is emerged as a major economic global power with its skilled manpower and leading trade role [20,21] go to energy projects including coal, solar, hydroelectric, liquefied natural gas and power transmission system [22].…”

“…These interventions would help Pakistan to stabilize the growing Indian influence in the region [24]. Pakistan is 10th largest country of the world regarding human resource capital with two-third of its population below the age of 25 years [19] and having labor cost two times less than India and five times less than China (SP4). In term of GDP growth, Pakistan's economy had an average annual rate of approximately 6% during 1963 to 1993 [25], and below 6% over the last decade.…”

“…USA and China are the biggest maritime trader with nearly 25% trade share worldwide in which seaborne component very significant. China needs to secure its existing routes (WC1) for smooth Sea Lanes of Communications (SLOCs) in IOR [19]. China applies surplus production approach [28] which is negatively impacting China's economy due to imbalances in supply and demand (WC2), while BRI and CPEC will add more trade flux which needs to be strategized.…”

Core Competencies of Truck Drivers Responding to Emergencies during Transportation of Hazardous Materials

“…The major important segments in this project are the Bangladesh-China-India-Myanmar Economic Corridor, China-Mongolia-Russia Economic Corridor, China-Indochina Peninsula Economic Corridor, China-Central and Asia-West Asia Economic Corridor and the New Eurasian Land Bridge. 2 The land routes consist of high speed railways, highways, ports and industrial zones with a total length of 60,000 km. The result will be extensive trade and transportation of goods across the globe.…”