China-Pakistan Economic Corridor: A Comprehensive Guide to Enhancing Economic and National Security, Stability, and Sustainability
Keywords:China-Pakistan Economic Corridor, Security, Economic Stability, Economic Sustainability, SWOT Analysis
A strong economy is the backbone of a strong nation. Pakistan has experienced security challenges since the beginning that has shifted its attention to defense, which diverted its focus from economic stability. And from the standpoint of independence, Pakistan has territorial disputes with neighboring countries such as Afghanistan and India. This has made it difficult for the country to maintain strong trade relations with them and has hindered diplomatic relations with Pakistan. Programs like China Pakistan Economic Corridor (CPEC) have provided the country with an opportunity to improve its economic conditions. The CPEC can be a game changer for Pakistan. It is a project of regional connectivity, a part of China's Belt and Road initiative (BRI) This would assist not just Pakistan but also Iran, Afghanistan, and Central Asian countries and in some way Middle Eastern states. Under this program, these countries will have improved roads, railways, air transportation, and the frequent and free exchange of goods so that they will have open borders like European countries as a result of which Pakistan will have less security issues and more economic opportunities. Pakistan's current budget (2022-23) allocates 58 percent of its budget to loan repayment and defense, the remaining 42%(News, 2022) is very less for making the country stable or sustainable. The CPEC is a long-term program that will help Pakistan achieve economic and national stability and sustainability. The CPEC model is a win scenario that will result in a linked and integrated area that shares harmony and growth.
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