The
much touted $45 Billion CPEC initiative has been hailed as a
game-changer for Pakistan. Mystery still shrouds the terms and
conditions of the $34 Billion energy investment and the $11 Billion
infrastructure investment. So much so that even the Governor State Bank
of Pakistan, at one point, had accepted that he was not aware of the
exact terms of the agreement. The public unfortunately is clueless about
the true benefits and costs of this unprecedented level of investment
in Pakistan. We can rest assured that the controversial CPEC programme
as part of the One Belt initiative by China will have potential
far-reaching political, economic and financial consequences for
Pakistan.Wednesday 7 September 2016
The China Trap
The
much touted $45 Billion CPEC initiative has been hailed as a
game-changer for Pakistan. Mystery still shrouds the terms and
conditions of the $34 Billion energy investment and the $11 Billion
infrastructure investment. So much so that even the Governor State Bank
of Pakistan, at one point, had accepted that he was not aware of the
exact terms of the agreement. The public unfortunately is clueless about
the true benefits and costs of this unprecedented level of investment
in Pakistan. We can rest assured that the controversial CPEC programme
as part of the One Belt initiative by China will have potential
far-reaching political, economic and financial consequences for
Pakistan.
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