ABSTRACT
The China–Pakistan Economic Corridor (CPEC) is part of China’s new global initiative, known as the Belt and Road Initiative (BRI); it is also often called the One Belt, One Road initiative. In this chapter, the term BRI is adopted. The BRI reflects China’s grand vision of connectivity extending from the People’s Republic of China to the Baltics in Europe, the Middle East, Africa and South-East Asia. Under the BRI, announced in 2013, China is planning to invest US $ 1–3 trillion, over the next 30 years or so, in 60 countries all over the world to establish possibly six different economic corridors. The CPEC is a key part of and the ‘front runner’ in this grand scheme. It could prove to be a game changer for Pakistan and usher it in a new era of economic development. Unlike the old Silk Road, the BRI is a framework of regional connectivity. The CPEC will not only benefit China and Pakistan but should have, in due course, a positive impact on Iran, Afghanistan, India, and the Central Asian Republic.
