China Pakistan Economic Corridor (CPEC) has a potential to bring regional economic integration and cooperation. It is a win-win situation for both China and Pakistan as they are the primary beneficiaries of the project. It has a capacity to cater to the needs of the landlocked Central Asian States. Moreover, it will provide safe and shortest route to the fastest growing Chinese economy. It will also stimulate the economy of our country. The new emerging power dynamics pose serious challenges to the CPEC. If these challenges are effectively tackled, it may lead to economic interdependence which could be a milestone for peace and economic development for the region.
Pakistan has a key strategic importance in the region. From Eastern side, arch-rival India is situated. India is the largest democracy and the biggest emerging market in the world. From western side of the border is Afghanistan that is one of the most troubled zones in the world. War is ongoing there since 9/11. China, the second largest economy and the most dominant all over the global markets, is from northern side. Iran is also in the global spotlight due to its nuclear program and its bitter rivalry with the US, Israel and the Gulf Arab states. Moreover, 21st century is called the Asian century. This continent has become a pivotal to global politics. Besides, Strait of Hormuz from where world’s one-third oil passes through lies near the Gwadar port. Therefore, Pakistan is situated at the crossroads of oil and gas-rich countries and the largest economies.