Sustainable Development under Belt and Road Initiative: A Case Study of China-Pakistan Economic Corridor’s Socio-Economic Impact on Pakistan

Abstract

The restoration of the ancient Silk Road intends to reconnect China with Africa, the Middle East, and Europe through a railway network, airports, roads, seaports, and an optical fiber system. The Belt and Road Initiative (BRI) has three components. One Belt, One Road (OBOR) is based upon two parts of the BRI; the maritime Silk Road and the Silk Road economic belt. OBOR is based upon six economic corridors. The China-Pakistan Economic Corridor (CPEC) is the smartest corridor under OBOR, which passes only through Pakistan, and after completion, will provide a safe and cheap route for China to import oil and energy. CPEC is a multidimensional project under which much infrastructure development initiative has been started to improve the infrastructure and economic development of Pakistan. Infrastructure development is an essential requirement in economic growth, one which further leads to industrialization and is helpful in economic development. The present study was conducted in Pakistan and explored how infrastructure development under the CPEC is useful for the sustainable development of Pakistan, as well as which kind of infrastructure development projects have been included in the CPEC to improve the socio-economic paradigm of Pakistan. A sample of 500 respondents was selected through a multistage sampling technique from the two-node cities. A questionnaire survey was used to collect primary data. The results of the study show that the CPEC is a catalyst for Pakistan to improve its socio-economic conditions and to achieve sustainable development. The participants of the survey agreed that CPEC will improve the socio-economic paradigm of Pakistan and will be helpful in the achievement of sustainable development goals.

China-Pakistan economic corridor and its impact on rural development and human life sustainability. Observations from rural women

“…These international linkages would result in more FDIs and high economic growth for both China and Pakistan [67]. The megaprojects would positively contribute to social welfare and sustainability by improving the infrastructure [68]. For instance, CPEC would configure the developmental projects (infrastructure, the tourist industry, housing, hospitals, schools, food, livestock, energy and social welfare) in Kashmir that is a moderately developed area of Pakistan and a central destination of tourists [69].…”

“…These findings are different than [4] and [3] because they claimed CPEC as a game-changer and driver of quality life. However, considering the suggestion of [68], who claimed that CPEC would first develop the areas…”

China’s One Belt and One Road Initiative and Outward Chinese Foreign Direct Investment in Europe

“…The main purpose of the BRI is to establish a network of railways, utility grids, and pipelines with the intention of channeling the entire world and promoting deep and long-lasting regional cooperation between the East and West and adjacent areas [4]. The BRI provides a new way forward for the economic growth of China and cross-border business cooperation with other countries [5].…”

Çi̇n-Paki̇stan Ekonomi̇ Kori̇doru Ve Paki̇stan Twitter Uzaminda Kanaat Tekni̇syenleri̇: Bi̇r Temati̇k İçeri̇k Anali̇zi̇

“…Similarly, more than 8 billion US dollars has been allocated to the construction and upgradation of transport infrastructure i.e. roads and railways, while the development and expansion of Gwadar port to transform Gwadar into an international business city (Menhas et al, 2019). Finally, the establishment of special economic zones along routes of the CPEC will facilitate Chinese as well as Pakistani trade with the European and African countries through establishment and relocation of Chinese industries which will be able to benefit from simple regulations for companies, special financial concessions and a growth aligned to economic policies (Khan and Khan, 2019 Khan and Khan, 2019).…”