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China-Pakistan Economic Corridor

  • IASbaba
  • November 3, 2022
  • 0
International Relations
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Context: External Affairs Minister made a reference to the China-Pakistan Economic Corridor (CPEC), part of China’s Belt and Road Initiative (BRI) in the Council of Heads of Government of the Shanghai Cooperation Organisation.

Present Status of the CPEC:

  • A lot of the energy projects were completed.
  • Some of the road projects have been completed, others not;
  • The special economic zones were pared down to a smaller number than originally envisaged and have moved very slowly;
  • Most of the projects around Gwadar are far from completion.
  • There’s just been nothing significantly new agreed over the last few years from the much bigger package that was under negotiation.
  • There were uncertainties about the economic feasibility of some of the larger projects — hydro-electric dams and railways.
  • Gwadar is just very difficult as a location, in logistical and security terms.
  • The current total that both sides cite is $25 billion, and it was $19 billion five years ago

Source: Indian Express

 

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