CPEC is favourable than the US plan of economic integration: Experts asserted

ISLAMABAD: In the wake of the USA BUILD Act and Alice Well’s criticism on the terms of the CPEC, the incumbent government faces a similar challenge of determining Pakistan’s best interest and making sound judgment.

It is well proved over the times that the CPEC is the best choice as compared to USA Build Act, reports Gwadar Pro App quoting experts. The American officials are so bent upon the subject of the CPEC that Alice Wells, the US assistant Secretary of State, publicly criticized Pakistan’s decisions with China on the CPEC during her visit to Islamabad.

President Trump indicated in his meeting with Imran Khan that he would send the American businessmen to explore business opportunities in Pakistan. This statement by President Trump reveals aspects of the US strategy in relation to Pakistan. It also signifies the broader US response to the Belt and Road Initiative (BRI). US has recently launched an infrastructure development initiative under its BUILD Act regarded by many as its alternative to the BRI. It is important to bear in mind that the US is not only skeptical about the CPEC but also regards BRI as a challenge for its economic power.

In this regard, a careful reading of President Trump’s speeches reveals that the US has defined its strategy to tackle economic challenges in tandem with its national security strategies.

China’s economic activities are not centred in Pakistan or this region. Its projects are underway in many parts of the world including Latin America, Africa, and Southeast Asia. In these countries, there is no trend of ousting political leadership as it is in Pakistan. Therefore, China’s economic partnership is strengthening and their projects are making headway.

If we look the China’s investment in relation to the emerging US proposals, it is clear that China’s investment is at the government and state level. However, what the US functionaries have proposed so far is focused on promoting the private sector investment into foreign countries and facilitating agreements between the corporate sector and other governments.

In this regard, the US is initially making a funding of $60 billion. President Trump’s statements and his links with the businessmen indicate that this initiative is likely to go ahead. However, this is not as simple as saying that the US is going to make investment in Pakistan. There are indications that such an investment in Pakistan may come with a condition that Pakistan withdraw from its commitment with the CPEC. It is evident that any such withdrawal will not be without economic and national security repercussions for Pakistan.