CHINA-PAKISTAN ECONOMIC CORRIDOR: A KEY TO REGIONAL CONNECTIVITY AND DEVELOPMENT

Abstract

Pak-China nexus has always been exemplary and phenomenal. Year 2015 is marked as the biggest milestone between these two all-weather friends. China Pakistan Economic Corridor (CPEC) is the key to the door that leads to the biggest ever trade activity that will be started from China and will be expanded to the middle-east, African and even some vibrant European markets. It is the biggest deal signed between Pakistan and any other country that promises the huge economic commotion. This corridor is basically a part of new phase of globalization where the economic cooperation between countries and regions define the future of the respective economies. Due to its great economic and geo-strategic importance, CPEC has acquired global attention and analysts from all over the world are holding different opinions on this substantial economic corridor between China and Pakistan. This paper is a brief overview of the intra-regional connectivity that CPEC ensures and its impact on socioeconomic development of the entire region. This study evaluates the growth of energy sector, infrastructure development and advancements in connectivity in terms of transportation and communication as a result of this mega project. It also describes the inter-regional coordination within the country that will strengthen area-to-area bonding that is important for the uniform economic progress so far. Once the things start to move on smoothly and smartly, there is no ambiguity that this project will turn out as the socioeconomic revolution, mainly for Pakistan, then for China and obviously for the other countries of the region as well.