Chinese are known for their highest intelligent trading approach. The example of that can be seen from the initiative of China recent mega project in Pakistan by the name of China-Pakistan Economic Corridor Project.
The rival countries of Pakistan and China are too much worried about this mega initiative that is considered as one of the biggest investment ever made by China in Pakistan. Its worth is $45 billion. CPEC will connect the Gwadar of Pakistan at one end with Xin Jiang of China at another end. It will open the new window of trade for the China.
The CPEC will make the China able to get access to the South Asian, Middle East and African countries. To connect all these areas another initiative named One Belt, One Road (OBOR) has arrived that will start just after the completion of CPEC. China has made a successful investment in almost forty countries of the world laying on this route.
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All projects were identified by three criteria: 1) Publicly announced as a “Belt and Road” project; 2) host country had accepted the project; and 3) financing and/or an agreement was completed with the Chinese government or Chinese company. Projects that did not meet all three criteria were not included.
The OBOR is the initiative of the Chinese President Xi Jinping’s 2013 vision Silk Road Economic Belt. Currently, 116 projects have been proposed under OBOR with the total worth of $225 billion. The significant investment is being made in the industrial, transportation, communication, and energy projects.
Here are the major purposes that China is looking to get from OBOR.
- To create alternative trade routes for China to diversify and insulate its economic access
- To promote the domestic economic viability of Chinese major trade partners Pakistan and Indonesia
- They are clustered geographically in countries that already have active bilateral relationships with China and have a clear articulation of their infrastructure needs.
- As these projects are supported by the Chinese government and companies so this will achieve the overall goal of the Belt and Road initiative.
Pakistan is the leading beneficiary in all this scenario because of holding the major investment by the China in the shape of CPEC. Here are the list of countries covering under the China OBOR project.
