Impact of China-Pakistan Economic Corridor (CPEC) on the Economic Growth of Pakistan
- aGC University Faisalabad, Pakistan
- bCentre for Economic Research, Shandong University, Jinan, China
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Abstract
The main purpose of this paper is to analyse the economic impact of the CPEC on the economic growth and development of Pakistan. It is shown that an investment of $46 billion by China will have a multifaceted positive impact not only on the economies of Pakistan and China but also on other countries of the region. It will be a game changer and incubator of economic growth. It will improve and expand infrastructure in all provinces of Pakistan, enhance regional cooperation, reduce political tension between the countries and increase acculturation as well as providing an opportunity for trade creation and trade diversion. It will enable the countries to achieve the macroeconomic gains. And improve the standard of living. It will be beneficial for the region in general and for the land locked countries like Afghanistan, Tajikistan, Kyrgyzstan, Kazakhstan and Uzbekistan in particular.