Pakistan and China Economic Corridor

Welcome to currentpakistans.blogspot.com .
Today We talk about Pakistan China Economic Corridor .

We know China is the best friend of Pakistan .Pakistan have many relations in different matters like trade,defense friendship,tourism etc.
Now a days ,Pak- China friendship is most popular in Pakistan . China set a  number of project in Pakistan such as metro bus project ,project in Gawadar port etc.By.the reference of these projects Pakistans economy increases rapidly.
History of this Friendship:
This relationship was developed in 2013 by Chinese premier Li Keqiang and Nawaz Sharif in Islamabad(Capital of Pakistan).The main purpose of this friendship is for well being  for both countries and  join  the border of both countries.In 2002, China also initiated construction works at Gwadar port with the intention of linking it to Western China, however, development of the port ceased after 2007 owing to political instability in Pakistan following the fall of General Pervez Musharraf and subsequent conflict between the Pakistani state and Islamist militants.

In February 2014, Pakistani President Mamnoon Hussain visited China to discuss the plans for an economic corridor in Pakistan. Two months later, Pakistan Prime Minister Nawaz Sharif met with Premier Li Kequiang in China to discuss further plans,  resulting in the full scope of the project to be devised under Sharif's tenure.  In November 2014, Chinese government announced its intention to finance Chinese companies as part of its $45.6 billion energy and infrastructure projects in Pakistan as part of CPEC.

During the state visit of Xi Jinping to Pakistan in April 2015, he wrote in an open editorial stating: "This will be my first trip to Pakistan, but I feel as if I am going to visit the home of my own brother." On 20 April 2015, Pakistan and China signed an agreement to commence work on the $46 billion agreement, which is roughly 20% of Pakistan's annual GDP, with approximately $28 billion worth of fast-tracked "Early Harvest" projects to be developed by the end of 2018. As a gesture of friendship, the Pakistani capital at that time was dotted with slogans and signboards such as "Pakistan-China friendship is higher than the mountains, deeper than the oceans, sweeter than honey, and stronger than steel"  an oft repeated phrase coined by the Chinese to describe their deep ties to Pakistan.

Major    Projects  of this Friendship:

Benefits of this Friendship:

• The relationship between both countries become more strong.
• Its help to stable  economy of both countries.
• The import and export of both countries increases.
• Power capacity will increase.
• Direct investment will come in Pakistan.

Disadvantages of this Friendship:

• FTA leads to threat  for local markets and local manufacturers.
• Disturb of local industries
• Difficult to compete chinese products in market.
• Dependent on china.
• Increase the ratio of unemployment.

The purpose of unemployment is that  when chinese came to Pakistan  for  set a project they use their own technologies , their skills .they use only and only pakistanis as a labour.They do not use pakistans skills.

Objection at this Friendship:

1.Indians objections:

The Government of India, which shares tense relations with Pakistan, regards portions of the CPEC project negatively as they pass through disputed territory which is claimed by India. During the visit of Indian Prime Minister Narendra Modi to China in 2015, the Indian Foreign Minister, Sushma Swaraj reportedly told Chinese Premier Xi Jinping that projects passing through Gilgit-Baltistan are "unacceptable" as they require road construction in territory India regards as its own. The Indian Ministry of External Affairs in May 2015 also summoned the Chinese envoy in New Delhi to lodge India's opposition to the project. The Chinese Premier dismissed the concerns, describing CPEC as a "commercial project"that would not target any third party. Despite these objections, segments of the Indian public, as exemplified by former Indian Ambassador Melkulangara Bhadrakumar, regard the project as in India's interest vis-a-vis Central Asia, and warn that India might "lose heavily" were India to remain opposed and isolated from the project.