Obor: One Belt, One Road Initiative, China Pakistan Economic Corridor, Challenges, and Impediments

Abstract

The One Belt, One Road initiative not only proposes significant potentials in multifaceted realms including economic, political, strategic, and geographical dimensions, it also presents many uncertainties and possible apprehensions for the associated countries. The initiative broadly includes five areas of regional connectivity: policy reformation, infrastructure development, trade regimes and investment. The trade and investment facilitation are one of the main areas where the developing countries like Pakistan need to focus upon. The OBOR initiative paves regional connectivity paths between Pakistan, China, Central Asian Republics. Pakistan-China friendship is an incomparable phenomenon. The two states have nothing in common in terms of history, language, ethnicity, culture, or ideology, yet their nexus is being considered as deeply rooted and time-tested which has developed into a comprehensive strategic partnership. Pakistan-China partnership sustained and remained unaffected during changes of leaders, political system in the realm of regional and international politics. Both states have developed an ideal state-to-state relationship based on complete trust. They have been steadfast friends who have supported each other throughout thick and thin. On one hand, this initiative fosters new opportunities, but on the other it also unveils challenges. With the Chinese over production, the Asian markets will thus be loaded with the Chinese products, suppressing the Pakistan markets. This paper through secondary data investigation, takes a closer look at the One Belt, One Road initiative and its impact on Pakistan