CPEC AND ITS CORRELATION WITH SOCIAL AND ECONOMIC DEVELOPMENT OF PAKISTAN
The visualization of mutual success and economic development is linked to provincial connectivity and growth. The establishment of the China-Pakistan Economic Corridor is based on this concept (CPEC). One of the primary projects of CPEC is the development of new transportation infrastructure, including the Gwadar Port Project and other energy generation projects. The Everlasting friendship of Pakistan and China has been proven. The China is promoting the regional economy of Pakistan. The key plan that led to the creation of CPEC is China’s pilot project of the “Belt and Road Initiative.” CPEC is projected to minimize China’s transportation costs by offering a shorter route for Chinese trade to the Persian Gulf, as well as provide a solution to Pakistan’s energy shortages. Furthermore, despite the CPEC’s predicted economic growth chances, Pakistan faces some economic, security, and political risks. This paper aims to illustrate the China Pakistan Economic Corridor’s significant geostrategic importance, opportunities, and challenges, as well as to broaden the base. As a result, this paper provides a comprehensive view of previous research on the planned subject and does not involve any data analysis, as previous researches had done for reviewing an assessment of challenges and prospects.
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