China-Pakistan Economic Corridor or CPEC as is popularly known in pakistan is part of China’s BRI projects. Touted as game changer in pakistan which will receive USD 62 billion in loan or investment for its infrastructural development. Elsewhere in India and the West it is viewed as Chinese neo-colonist project.
CPEC funding and other aspect remains srouded in mystery as details of the project is not available in public. It is true of almost all the funded by the Beijing where China fund the corrupt and commercially non viable projects.
Reciepient governments try to project the investment(or loan) as win-win for both side but America and its allies see it as tool of Chinese expansionism. But the reality remains in between two arguments.
No doubt these projects are mostly non viable as case in point the CPEC. But reciepient govt are happy to welcome these projects as they are strong pressed for capital investment. These govt can also thier public the investment to win election.
Again China does not impose much condition on the receiving govt about their human right record and other issues. China has also been able to create a vested interest in these countries who benefit out of these project. Ex Corrupt bueaucracy who sanction these project.
Speaking specifically about the CPEC. It has hugely benefited the Pak army whose souces of foeeign money was declining anf American withdrawal from Afghanistan. So to extract the cream out of CPEC they have now created a CPEC Authority with a retired armymen at helm of the affairs.
In India we tend to judge the success of CPEC from commercial point of view and remain in our dream world waiting for CPEC to fail. But we tend to forget that the geography of Pakistan is ita greatest gift. We must keep inond that the CPEC is no commercial project it is ment to provide alternate route to China for import of its crude oil and keep Pakistan afloat which might crumble under its own weight.
Afterall China has trillions of dollar in reserve from which it was earning nothing. So Jinping thought about making good use of that money and buy some government and territory and achieve their dream of dominating world.
PoliticNOW 