Demonising and scandalising CPEC

From time to time, we come across propaganda unleashed against the China-Pakistan Economic Corridor (CPEC): that it is a debt-creating instrument, China is not keen to help Pakistan ride out its severe economic problems, and Beijing is using the corridor as a strategic ploy to put its stamp on the region. Such propaganda, however, is baseless. In order to appreciate CPEC and its implications for Pakistan, we need to look at the bigger picture. CPEC is part of China’s flagship Belt and Road Initiative (BRI). Launched in 2013, the BRI, previously called One Belt, One Road Initiative, is the brainchild of President Xi Jinping, who sees a more active global role for his country in commensurate with its economic strength. China is the world’s second largest economy, the largest exporter, the second largest importer and one of the largest recipients of foreign direct investment (FDI). Over the years, the hundreds of billions of FDI that China has received has been a significant contributor to its development.