The Emerging Dimensions of China-Pakistan Economic Cooperation and CPEC: Significance and Challenges

This study examines the economic dimensions of China-Pakistan cooperation, mainly focusing on the China-Pakistan Economic Corridor (CPEC). CPEC is a key project under China's Belt and Road Initiative. The project is considered significant for Beijing's initiatives to "bridging the gap" with its landlocked regions, especially its Xinjiang autonomous region. CPEC is regarded as a "game-changer project" for Pakistan's economy, a "flagship project," and a "gateway project" for BRI overall. CPEC plays a significant role in developing both countries, particularly Pakistan, through regional integration, connectivity, and economic growth. Besides the importance of CPEC, this study examines specific challenges for the CPEC project. It identifies the influential role of the US in South Asia as a global challenge, India's proxies and political uncertainty in Afghanistan as regional challenges, and security, terrorism, and lack of consensus among political parties and provinces as internal challenges. This study is carried out by using exploratory case studies for qualitative data relying on primary data, including the interviews of high officials, academics, and other experts on the subject, and secondary sources such as journal articles and books, among others. The paper provided policy input to the Government of Pakistan and China regarding the importance of CPEC for the country's economic development and urged both countries to look into domestic, regional, and global challenges for this project.