Source: The post is based on the article “Pakistan and China ink six agreements to expedite cooperation under CPEC” published in The Hindu on 1st August 2023.
What is the News?
Pakistan and China have signed six important documents to expand and expedite cooperation under the ambitious multi-billion dollar China-Pakistan Economic Corridor (CPEC) project.
What is the China-Pakistan Economic Corridor (CPEC)?
CPEC is a bilateral project between Pakistan and China.
Its stated objective is to enhance connectivity across Pakistan with a network of highways, railways, and pipelines accompanied by other infrastructure development projects.
It connects Gwadar Port in Pakistan’s Balochistan with China’s Xinjiang province.
CPEC is a component of the Belt and Road Initiative (BRI) initiative of China.
It is opposed by India as it is being laid through Pakistan-occupied Kashmir.
What is the Belt and Road Initiative (BRI)?
The Belt and Road Initiative (BRI) was launched by Chinese President Xi in 2013.
It aims to link Southeast Asia, Central Asia, the Gulf region, Africa and Europe with a network of land and sea routes.
The BRI is seen as an attempt by China to further its influence abroad with infrastructure projects funded by Chinese investments all over the world.
The initiative has led to allegations of smaller countries reeling under mounting Chinese debt after Sri Lanka gave its Hambantota port in a debt swap to China in 2017 on a 99-year lease.
India has opposed the BRI. It cited issues of sovereignty, transparency and unilateral decision making.
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