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Can CPEC Meet Pakistan’s Development Goals?
In early June, Prime Minister Imran Khan agreed to Pakistan’s thirteenth IMF bailout in the last thirty years. Facing a balance of payments crisis and foreign exchange reserves insufficient to cover even three months of imports, Pakistan will assume austerity measures in order to receive $6 billion of rescue funds from the international lender. Khan, who once declared that he “prefer[red] death to the begging bowl,” now finds himself dependent on external financing to fulfill the lofty development goals on which he campaigned in 2018.
Perhaps the biggest target of austerity is the China-Pakistan Economic Corridor (CPEC), originally ...
Fear Won’t Stop China’s Digital Silk Road
If the United States and its allies want to prevent China from dominating next-generation technologies and networks, they must incentivize Western companies to take greater risks in next-generation markets.
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A version of this commentary was ...
Sign Up: Belt, Road, and Beyond
The Belt and Road Initiative (BRI), a $1 trillion flagship foreign policy effort of Chinese President Xi Jinping, could reshape global networks of trade, transport ...
China Leads Myanmar Infrastructure Spike
Foreign investment, led by China, in transportation and telecommunications quadrupled to $1 billion in the last six months as Myanmar approved a number of infrastructure ...
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