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1、CPEC envisages linking the ancient Chinese trading town of Kashgar with Pakistan'sdeep-sea port Gwadar through a network of highways, railways, oil and gas pipelinesand fiber optic cables.This network will stretch from C
2、hina to the Arabian Sea in threeparallel sections along eastern, central and western alignments.Special economic zonesand energy projects will be set up along these routes between Kashgar and Gwadar.Ofthe $52 billion tha
3、t China has allocated for the project, $33.8 billion will go towardpower generation plants and $11.8 billion for infrastructure development.While theentire CPEC plan is to be operationalized by 2030,‘early harvest' proje
4、cts, whichinclude the laying of rail and road networks as well as some energy projects, areexpected to be completed within the next two to three years.
For China, the project provides a shortcut for its oil imports
5、from the Middle East whichis about eighty percent of its total oil imports, cutting the distance from 12000 throughthe strait of Malacca to km to just 3000 km through CPEC.It provides China with analternative route to th
6、e Strait of Malacca which is extremely vulnerable to state or nonstate actors in the sea including United States maritime patrolling in the sea which mayin any unfortunate event choke Chinese economy.
It also provid
7、es access to western China.The area has been underdeveloped for decadesand is plagued by unrest and militancy.Due to its proximity to Pakistan and its distancefrom coastal cities of China, CPEC is an ideal project for th
8、e area which can bringeconomic development and stability through economic development.
For Pakistan the project brings huge investment to its cash strapped economy.33.8billion US dollars allocated for energy project
9、s will address the chronic issue of poweroutages which has resulted in shutting down of many industries.Pakistan also wants tobring stability through economic development in its restive region of Baluchistan.
Howeve
10、r, the challenges are also manifold, ranging from security in Xinjiang andBaluchistan to political unrest in Pakistan, Indian and US opposition to the project aswell as corruption in both China and Pakistan.
This pa
11、per aims to discuss the project in detail along with the opportunities it providesas well as the challenges it faces on its way to completion.The present study will go forthe exploratory and descriptive along with induct
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