Abstract
Trade through economic corridors comprising land routes and sea-lanes has been rapidly multiplying in velocity and volume due to globalization. Velocity refers to the intensity and increase in the number of interactions. Volume is related with the density of goods that are being exchanged. Ancient Silk Road has been one such corridor. It connected China, Eurasia and the World with mutually beneficial trade and shared economic dividends having social, cultural and religious impacts. The Belt and Road Initiative (BRI) is reincarnation of ancient Silk Road, albeit much larger in scope and magnitude. China Pakistan Economic Corridor (CPEC) is one of the multiple strands of this whole that will connect 60 plus countries. Chinese vision for BRI revolves around voluntary participation and mutually beneficial trade respecting UN Charter. China is proposing a combination of loans, Foreign Direct Investment (FDI) and Built Operate and Transfer (BOT) investments for realisation of BRI. Operationalization of CPEC will bring obvious advantages in multiple spheres including socio-economic impacts, mostly positive for Pakistan.
Keyword(s)
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