China-Pakistan Economic Corridor Study

The China-Pakistan Economic Corridor(CPEC)is not only the crystallization of the traditional friendship between China and Pakistan,but also the common aspirations and needs of the two countries to develop economy and achieve connectivity.As a flagship project and demonstration project under the "One Belt And One Road" strategy,CPEC is not only a witness to the highly trusted international relations between the two countries,but also a big stage for China to display its capabilities.From the launch of CPEC as a major pilot project under the"One Belt And One Road" initiative to the end of 2018,significant progress has been made in the construction of the entire economic corridor region.The main projects of the CPEC include power infrastructure,transportation infrastructure,ports and port free zones,industrial parks and bilateral cooperation agreements.The strategic interests of China and Pakistan have promoted the construction and development of CPEC.For China,Pakistan and CPEC have important geostrategic significance in China's "One Belt And One Road" strategy.The CPEC has actively implemented and promoted China's neighborhood diplomacy concept of "amity,sincerity,mutual benefit and inclusiveness" and the concept of a community of Shared future.CPEC is also a "demonstration zone" of China's "One Belt And One Road" strategy,which is conducive to promoting economic development and prosperity of neighboring countries and regions.CPEC is conducive to China's border security and energy security.For Pakistan,strengthening China-Pakistan strategic relations and vigorously building CPEC are conducive to maintain the balance of power and strategic balance in South Asia;Enhance Pakistan's position and influence in South Asia;Promote the development and prosperity of the national economy.CPEC is facing economic risks,such as the scattered investment and insufficient funds,while in view of its projects in Pakistan,the construction risks mainly come from the Pakistan local development,need to consider the overall situation in Pakistan and analyze the risks of CPEC.This paper holds that the main risks of CPEC construction include political,security,economic and external intervention risks.Given to CPEC construction limited to Pakistan the status quo and the weak ability of national economic development,China should be smooth to CPEC construction as the goal,in the process of the construction dominated by China,Pakistan,follow up,the focus of the construction project is to supplement the Pakistan the short board,and strengthen the Chinese government and enterprises and personnel's ability to manage and control risk.In order to promote the smooth progress of CPEC,this paper has three specific Suggestions.First,support Pakistan's national construction,with emphasis on supporting Pakistan's national governance capacity,economic capacity and military capacity building.Second,China should also strengthen capacity building for risk management and control,including strengthening the proactive prevention awareness of Chinese enterprises,enhancing communication and exchanges between Chinese and Pakistani staff and establishing a crisis early warning system through cooperation.Third,strengthen China-Pakistan strategic cooperation,give full play to Pakistan's role as a bridge,promote China's neighborhood diplomacy and reduce the negative impact of differences between political factions in Pakistan on the construction of CPEC.