CPEC is set to create a lot of jobs because it will support a lot of different types of economic activities in areas like transportation, energy, and industry. People in Pakistan hope that this surge of jobs will help reduce poverty and raise living standards. Pakistan’s economy will get a big boost from the CPEC, which is building a huge network of roads, railroads, ports, and energy projects. These improvements to infrastructure aren’t just about joining things physically; they’re also about connecting markets, people, and chances, which will lead to more trade and economic growth. A key part of CPEC is the growth of Gwadar Port. This deep-sea port in the province of Baluchistan will soon be a major trade hub for ships in the area. This change will have huge effects on the economy, especially for the next generation of Baluchistan residents, giving them chances for growth and wealth that have never been seen before.
Individuals residing in Gwadar have a lot to gain from CPEC. The North and South Gwadar Free Zones were set up as a strategic move to turn Pakistan’s economy into one that depends on exports. The goal of these zones is to bring in investment, encourage manufacturing, and boost exports, all of which will help the country’s economy grow. That Gold and Copper from the Reko Diq mine were exported from Gwadar Port as part of an export effort shows how well Pakistan’s natural resources are being used. This is good for Pakistan’s economy and society, and it also makes the country more visible in trade in the area and around the world.
As planned, CPEC will link China, the CARs, and Pakistan immediately, making a key trade route. It is believed that this connection will make trade easier, lower the cost of shipping, and help these countries grow together. CPEC is very important to China because it is the main project of the Belt and Road Initiative. Its success is very important for China to show that it can be trusted as an investment and partner in building up facilities around the world. So, the success of CPEC is a key test for the BRI as a whole.
Many people have heard the story that CPEC put Pakistan in a debt trap. But this view doesn’t take into account the project’s long-term economic effects. Supporters of CPEC say that the terms of its financing are set up to be manageable and good for Pakistan, which dispels worries about a debt trap. CPEC includes the most important parts of regional growth because it knows that no single country can make progress on its own. CPEC could help the area grow and stay peaceful by making trade, communication, and economic ties better.
Many people also say that the claims of neocolonialism hidden behind economic unity are not true. Still, CPEC is a project that two independent countries decided to work on together so that both of their economies could gain. It is essential to recognize that CPEC is more about partnership than dominance. While environmental concerns are valid for any large-scale development project, it is important to note that both China and Pakistan are increasingly attentive to sustainable and eco-friendly practices in CPEC projects. The environmental impact is being closely monitored and addressed through various initiatives.
In summary, the CPEC is a transformative project with far-reaching economic and social implications for Pakistan and the region. While it is important to critically evaluate and monitor such a large-scale initiative, it is equally crucial to recognize and support the potential it holds. Disseminating accurate information and dispelling myths about CPEC is vital in ensuring that its true value is understood and appreciated by all stakeholders.