News Excerpt
According to the Centre for Strategic and International Studies, a leading policy research organization, the China Pakistan Economic Corridor (CPEC) which is a part of China's Belt and Road Initiative, is set to become a "trillion-dollar blunder" project.

●    The CPEC is a collection of infrastructure projects that are currently under construction throughout Pakistan.
●    The CPEC was originally valued at $46 billion and the estimate of CPEC projects is now $87b, and only a quarter of which have been completed.
●    CPEC was intended to rapidly modernize Pakistani infrastructure and strengthen its economy by the construction of modern transportation networks, numerous energy projects and special economic zones (SEZs).
●    These SEZs have remained largely empty today and the longstanding challenges have only become more exacerbated.
●    There is a lack of interest from investors for these projects as there is uncertainty of investment return.

    The debt quotient of this corridor is about $80b., 90% of which will be paid for by Pakistan in the form of national debt.
    These projects do not appear to have the potential to be profitable or successful and will not prove to be a good economic investment for China.
    Pakistan may not be able to pay China back and might slowly lose sovereignty of its own land.
    There are a number of criticisms of CPEC namely, finances, trade imbalances, opposition from Baloch nationalists, concerns of residents near Gwadar Port and the resistance of local actors whom the CPEC may directly impact.
    Another setback to the project is the resolution passed against CPEC by the Provincial Assembly of Khyber Pakhtunkhwa in which the projects are to be constructed.

CPEC and India
    The CPEC passes through parts of the Union Territories of Jammu & Kashmir and Ladakh which are under illegal occupation of Pakistan and India considers it an illegal project.
    CPEC which is a part of the One Belt One Road (OBOR) initiative of China, encroaches on sovereignty and territorial integrity of India. This is the main reason that India has refused to join the Belt and Road Initiative of China.
    According to international law, China will not be able to build anything in Pakistan-occupied Kashmir, as it is legitimate part of the Indian state. Even the United Nations accepts that this is Indian land, as per its 1948 resolution on Kashmir.
    From China’s perspective, any Indian attempt to take over Gilgit-Baltistan, would wreck CPEC — the flagship of the Belt and Road Initiative (BRI). According to experts this was one of the reasons for the recent standoff in Ladakh between India and China.

According to the experts, the CPEC will soon be known as the "trillion-dollar blunder" as here China sets the price, Pakistan gets the bill and ends up with substandard infrastructure which may not be able to service. It remains to be seen how the future of CPEC will significantly affect the interests of India.

China Pakistan Economic Corridor (CPEC)
    The CPEC is a clutch of major infrastructure works currently under way in Pakistan.
    It links Kashgar in China’s Xinjiang province to Gwadar deep sea port close to Pakistan’s border with Iran.
    Several other road, rail and power projects are associated with the corridor, and the project seeks to expand and upgrade infrastructure across the length and breadth of Pakistan.
    As per the original estimates the Chinese firms would have invested just under $ 46 billion in the project over six years — including $ 33.8 bn in energy projects and $ 11.8 bn in infrastructure.
    The CPEC is part of China’s larger regional transnational ‘One Belt One Road’ (OBOR) initiative.

Belt and Road Initiative (BRI), Gwadar Port, Chabahar Port, Strait of Malacca, String of Pearls vs Iron Curtain