CPEC: It's Getting Too Hot to Handle, China's Debt Trap Gift to Pakistan

#debttrap #cpec #pakistanchina CPEC: It's Getting Too Hot to Handle, China's Debt Trap Gift to Pakistan Long lengths of road known to the locals as the China-Pakistan Economic Corridor, or CPEC (pronounced see-pack), may come across while traveling through Pakistan. In fact, when traveling between cities, you might not even need to exit the CPEC. The two main cities of Pakistan, Lahore and Karachi, are located around 1,200 kilometers apart, and the average travel time between them has decreased from 20 to roughly 13 hours, based on just a portion of the 3,000-kilometer route. There have been a lot less power disruptions as a result of the CPEC-related power projects. Tens of thousands of Pakistanis are working as cheap labor on CPEC projects, which are a component of China's ambitious Belt and Road Initiative (BRI) to connect Eurasia seamlessly. However, the average individual in Pakistan would likely be evasive, if not downright depressed, when asked how the CPEC has affected their lives. They would tell you about the crippling inflation, the skyrocketing costs, the hopelessness of law and order, and the uncertainty surrounding postponed elections. The CPEC and its magic would not be discussed. However, a lot of what is worrying Pakistan these days can be related to the CPEC and the pressure of the New Great Game that Pakistan is up against. Background: The dominant blue seas and the dragon Ten years ago, many in Pakistan expected the China-Pakistan Economic Corridor (CPEC), which consists of electricity and energy projects, highways, railroads, and special economic zones, to be a game-changer for the chronically indebted country of South Asia, akin to the Marshall Plan, according to some observers. At a time when the outlook was otherwise dire, Pakistan's first commitment of $46 billion over 15 years came as a blessing; the amount has now increased to $62 billion. Pakistan was fascinated by the knowledge and capital from a nation that had the distinction of building prosperous port cities like Shenzhen out of almost nothing. China, on the other hand, had the closest sea access from its landlocked easternmost province of Xinjiang to the deep-water, warm-water port of Gwadar, which is located in Pakistan's Balochistan province, close to the Strait of Hormuz. It serves as both the entry point for the CPEC, the BRI's principal route, and a future commercial hub. China can now trade with Europe and the Middle East much more quickly because to Gwadar, which also gives it an alternate route for meeting its energy demands and cuts travel times by 10–20 days. The 12,000 km maritime distance has been shortened to less than 3,000 km on land. It is evident how important Gwadar is to China given that Saudi Arabia is one of its top two oil suppliers. Furthermore, in the event of a confrontation with Washington, the United States might be able to strengthen its grip on the choke points in the Strait of Malacca, which is frequently patrolled by the U.S. Navy. Then, it is thought, Gwadar might be able to provide China with unrestricted access to energy and might even be used as leverage for naval operations in the event that it becomes necessary. It makes sense that China has been making significant investments in Gwadar, which is frequently referred to as the "Crown Jewel of the CPEC." The port is already leased for 40 years to the China Overseas Ports Holding Company Pakistan (COPHC). This has caused concern in the West: a nation that had previously relied heavily on support from the US, UK, and EU may find itself moving closer to China. Losing influence over Pakistan also means losing control over Afghanistan, which in turn implies that the Russia-China axis will gain ground on the United States in the New Great Game, which is South and Central Asia, with Pakistan's assistance. Put another way, all was OK up until Pakistan and China's friendship—which is frequently praised in official discourse as being "higher than the mountains, deeper than the oceans, and sweeter than honey"—started to actually manifest as such in the shape of the Corridor. In the line of crossfire: politics A lot of the political events that have occurred in Pakistan in the past year may be related to the CPEC, which Pakistan is finding difficult to maintain. Former prime minister Imran Khan, who is currently serving a jail sentence related to one of the more than 150 cases brought against him, openly accused the United States of overthrowing his administration, with the U.S. purportedly providing covert orders for this very act in a diplomatic cable following his visit to Russia. A few months prior, Khan falsely claimed to have categorically refused to give the United States air bases so that it could strike Afghanistan. Shortly after the United States withdrew from the country, Khan even congratulated the Taliban, who were funded by Pakistan, for having released the "shackles of slavery."