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Abstract
China and Pakistan have agreed to build One Belt One Road project more commonly known as China-Pakistan Economic Corridor is expected to bring about both peace and prosperity in South Asia. This corridor will incorporate 2,000 kilometer transport link between Kashgar in north- western China to Pakistan's Gwadar port on the Arabian Sea near the border with Iran via roads, railways and pipelines. There are many internal and external challenges for Pakistan government to implement this multi-dollars project. However, it is a game changer project which will transform the fate of Pakistan and will help Pakistan modernize. It will improve the economy and trade, enhance regional connectivity, overcome energy crises, develop infrastructure and establish people to people contacts in both the countries. This study helps to analyze the challenges and benefits for Pakistan associated with the implementation of China-Pakistan Economic Corridor.
Introduction
The 21st century has seen the establishment of regional and global strategic environment around the world. This strategic environment encourages geo-economical and geo- strategic partnership among countries. Both the state interests and national security are important parameters of this partnership. States have defined their interests and have reshaped their policies because they have realized that it is not possible for them to defend their interests with their own capacities. High-level talks and diplomatic consultations are the hallmark of ever-growing cooperation among states in multi-faceted fields such as industrial ventures, infrastructure and development programmes, defense, commerce and related area of the economy.'
China was regarded as a sleeping giant in earlier decades. But now, China is playing a core role not only in the Asian region but in the entire world. Being the largest country in the world population-wise and fast becoming economically as big as it is demographically, it has finally succumbed to the charms of multilateral diplomacy which it had been known to ignore during the earlier decades. The other reason behind the changes in the Chinese foreign strategy is economic stemming from its rising energy demands.'
The Chinese President, Hu Jintao, who took office in 2003, explained his country's "Good Neighbour Policy" as part of a new strategy of peaceful development which China sought to promote as an interdependent, rather than competitive, relationship with its neighboring countries and the world. In cynic with this strategy, China has turned its nearest regions into a new regional trade hub.
Regional connectivity is one of the most important aspects of Pakistan foreign policy. Pakistan has also been trying to cultivate good relations with its neighboring countries. Maintaining worthy and good relationship with China has been an integral part of Pakistan's foreign policy objectives, as China is Pakistan's strategic partner; it helps Pakistan in maintaining balance of power in the region.
Pak-China ties have kept growing and have strengthened ever since 1951 when their friendship began. China has always been a key component of Pakistan's foreign policy so much so that in 1970, Pakistan played a key role in arranging Nixon's visit to Beijing.
With the support of China, Pakistan has gained significant importance not only in the region but the entire world. In recent years, both China and Pakistan have been making concerted efforts to revive the historic Silk Road which is one of the oldest known trade route in the world and will provide a route for trade from Kashgar (China) to Gwadar (Pakistan). China-Pakistan Economic Corridor plan will help Pakistan to become one of the most strategically important countries in the region. It will also provide an opportunity to China to build a naval base on Gwadar port that will increase influence of China in the region and also counter US influence in the Asia-Pacific region.The CBS News quoted some Western diplomats on Pakistan-China partnership. According to them, China's increasing economic engagement with Pakistan should be seen in the context of Beijing's "efforts to counter the US efforts to deepen alliances around the Asia-Pacific region"."
The Concept of One Belt and One Road
The "One Belt One Road" concept has international strategic importance. The One Belt One Road initiative covers countries and regions with a total population of 4.4 billion and a total economic volume of US$ 21 trillion, 63 percent and 29 percent respectively of the World's total.
According to the assessment of the Corridor, the plan is involved in laying the foundation for regional cooperation, improving economic growth, offering trade diversifications, investing in transportation, mining and energy sectors and creating political flexibility. It is a vision with world-changing implications, an unfolding plan that would weave much of Asia, Europe, Africa, Oceania and the Middle East much more closely together through a patchwork of diplomacy, new infrastructure and free trade zones.
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