China Pakistan Economic Corridor
In one of his interviews, Chairman Pakistan Peoples Party, Bilawal Bhutto Zardari negated the term "CEPC as financial imperialism" whereas he called it china's economic soft power. He emphasized the US not to jealously undermine it, instead come and compete well with old-fashioned capitalism. The US can also project its soft power in South Asia. This is the only access for China to warm waters. Well, if we talk from its inception until now, this is for fact that it had made considerable development in Gawadar and its nearby region. As to the long-term plan for CPEC (2017-2030), a comprehensive mechanism has been made to carry on distinct projects.
CPEC is based on many collaborative projects on building infrastructure, industrial development, socio-economic development, livelihood improvement, and bringing prosperity and capital to the region. It covers China's Xinjiang Uygur autonomous region and the whole of Pakistan. As to their official website records, the main cities that the corridor passes through include Kashgar, Atushi, Tumshuq, Shule, Shufu, Akto, TashkurganTajik, Gilgit, Peshawar, Dera Ismail Khan, Islamabad, Lahore, Multan, Quetta, Sukkur, Hyderabad, Karachi, and Gwadar. It is said that Xiangyang city has made better progress. This long-term investment has enhanced bilateral trade as a tangible growth rate 0f 18% has been observed since the time of its inception. The question is whether it would benefit the lives of the indigenous population?
Well, it will of course benefit the people as its common goal is the upheaval of the local infrastructure and certainly infrastructure is said to be the backbone for economic development. Peeping into China's history would reveal that China's development preliminary was on their vast investment in infrastructure. In a couple of decades, in the regime of Mao Zedong and thereafter China reticulated a widespread web of paved roads and railway tracks. Gained independence in 1949, China is now emerging as Asia's supreme power and economic hegemon.
The 21st century is called the Asiatic century because of its growing importance in global politics and the evolution of great economies, especially eastern Asiatic countries. 18th century was the enlightenment of Europe and 19 centuries power trajectory tended towards the US but the "One Belt - One Road" initiative would play a catalytic role in connecting regional economies but would also empower sustainable development and more certainly poverty alleviation is the subsidiary goal. Interests matter, no matter if it is with the Us or China or with any European country. This could be said financial imperialism as China tends to control soaring economies through its unilateral or multilateral investments like CPEC. The capital investment flows largely from china is definitely the century's biggest investment and will indeed mark the standard of societies living between the boundaries.