China Pakistan Economic Corridor (CPEC) – a billions of dollars mega economic project – is actually the leading manifestation of the Chinese One Belt One Road (OBOR) vision. Being the first of its form and now almost in practice, CPEC not only brings the dream of OBOR into reality but also changes the economic, strategic and pollical status quo of regional relations.
Understanding CPEC and OBOR:
China Pakistan Economic Corridor is a mutual economic venture between China and Pakistan on the formula of give and take. China is investing over $50 billion in Pakistan’s infrastructure and energy sectors in return for access to the country’s routes leading to Gwadar port. The port will ultimately enable the Chinese goods to reach the African and Middle Eastern markets using the shortest possible way from the Western China.
One Belt One Road, on the other hand, is a mega vision of China to connect the whole region and beyond into a single network of transit routes using which China can carry its products to most of the Asian and European countries. OBOR remains to be the most important step of China to be a superior economic power replacing the United States.
CPEC as Flagship of OBOR:
Flagship means to be in leading position in a venture. As far as CPEC is concerned, it is truly the flagship of OBOR owing to the following reasons:
- CPEC turns out to be one of the most important links in the OBOR network that will allow China to reach the markets of Africa, Middle East and Europe
- CPEC stands out to be the first such project that has been materialized in no time and it is almost in the starting phase of its practice
- Providing the shortest link between three continents, allowing massive trade transit and connecting the Chinese dots of OBOR; CPEC remains a flagship of the One Belt One Road vision.
How CPEC is Game Changer?
CPEC is game changer in the region owing to following reasons:
- It is ensuring unprecedented ties between China and Pakistan on the economic grounds
- It has brought Russia, U.K, Iran and Central Asian Republics to revive their attention towards Pakistan and the South Asian region
- It is building the economic connectivity between Africa, Middle East and Asia along with seeking access to the European markets
- It is altering the regional strategic balance by marking a shift in alliances
- New political and economic blocs are surfacing with new visions owing to the CPEC
- It is altering the regional approach from protectionism towards liberalism of trade and shared prosperity.
OBOR is the long term economic and strategic vision of the Chinese people while CPEC is the leading practical manifestation in this regard. With its apparent benefits to China, Pakistan and other regional countries; CPEC stands out to be a game changer as well altering the regional alliances and shifting the balance of power.