Role of CPEC in Economic Prosperity of Pakistan: Prospects and Challenge

Abstract

Regional connectivity has become a reality in contemporary world as regional infrastructure projects can prove potentially beneficial for interstate relations. This study is an endeavor to investigate the overall theme of China Pakistan Economic Corridor (CPEC) and its economic benefits for Pakistan. The central findings of this research is that CPEC is part of the multi-billion dollar Chinese project of One Belt One Road (OBOR) which will play a key role in harmonious Chinese led regional political system. Furthermore, CPEC will play a central role in economic development of Pakistan. This study has been mainly divided in two section. The first section deals with the Chinese theme behind project of One Belt One Road (OBOR), which is the main Chinese interregional connectivity program and whose one part is CPEC. The second section will deal with CPEC and the economic benefits for Pakistan. The second section discusses the four economic benefits of CPEC for Pakistan: energy related benefits, increase in foreign direct investment, improvement in employment rate and improved infrastructure.