Socio-Economic Gains Of China Pakistan Economic Corridor (CPEC): Synthesizing The Effects In The Wake Of Global Pandemic

ABSTRACT

Economic ties between Pakistan and China were developed from 1959 through Shahrah e Korakoram and the instigation of CPEC project has efficiently enhanced the economic and strategic ties between neighboring countries. However, outbreak of COVID-19 has posed various questions regarding the future prospects of CPEC and its significance especially for Pakistan. In fact, Pakistan and China both have worked together to devise strategies to deal with the prevailing issues. Though Pakistan was also surrounded by issues associated with balance of payments and pressure was also raised from IMF and FATA. However, there are some blessings also for the country as COVID-19 might also give Pakistan unexpected economic relief which may not only benefit CPEC but also Pakistan's economy. Therefore, to have realistic view regarding the impact of COVID-19 there is a need of thorough and proper research so as to have final stance regarding the issue. Though lack of authentic data regarding investment of CPEC as well as economic relief and COVID-19 are hindering in research and policy formulation, therefore, the focus of this study is towards the assessing of effect of COVID-19 on CPEC through the opinion of leading economists. The data was analyzed through SMART-PLS which indicated that COVID-19 is producing significant positive impacts economically and socially.