The China National Nuclear Corp. finished structural work for the Hualong One nuclear reactor in the Pakistani city of Karachi this June. Chinese President Xi Jinping hopes to install similar nuclear technology at more locations along the Belt and Road Initiative, with 30 units by 2030, which is estimated to create 5 million jobs and provide a total economic boost of $145 billion, Nikkei reports.
Browse our analysis section for news and articles on topics such as China's Belt and Road Initiative (OBOR), the Competing Visions of Japan, India, and other regional powers, and the stakes for U.S. policy.
Pakistan will slash spending on BRI projects in the next year as the government struggles to balance its finances. These budget cuts arrive amid growing recognition from Beijing of the complications involved with Pakistan and other nations incurring heavy debt to finance BRI projects, reports Nikkei.
Pakistan's prime minister, Imran Khan, visited southern Balochistan province last week following Balochistan's claims that the province was not getting a significant share of the Beijing-funded $62 billion China-Pakistan Economic Corridor. During his visit to Balochistan, Khan inaugurated several construction projects seen as crucial for the local economy, reports the Nikkei Asian Review.
Pakistan has diverted around $171.6 million meant for joint infrastructure development projects under the China-Pakistan Economic Corridor, a flagship effort under China's Belt and Road Initiative (BRI), into other construction plans. This signals that Islamabad may be distancing itself from Beijing and the BRI, reports the Nikkei Asian Review.
To effectively leverage the infrastructure financing opportunities provided by the Belt & Road Initiative, countries must examine their own development strategies and build domestic skills and institutions, argues Ganeshan Wignaraja for the Nikkei Asian Review.
Weeks after a meeting of government officials from Beijing and Islamabad, the environmental impact of China-led coal-fired power generation projects in Pakistan is still a hot topic of debate. Lack of disclosure on plans associated with $62 billion China Pakistan Economic Corridor, which forms a crucial part of Chinese President Xi Jinping's ambitious Belt and Road Initiative, is spurring local environmental concerns.
China's $2.5 billion offer to bailout Pakistan as its foreign exchange reserves dry up disappointed Islamabad, which reportedly sought $6 billion from Beijing. Pakistan's balance of payments crisis could threaten the $62 billion Beijing has invested in the China-Pakistan Economic Corridor, reports Nikkei.
One of China's Belt and Road Initiative's biggest environmental impacts may be on the world’s water. Should BRI projects strain the world's water resources, the initiative may carry important, and perhaps negative, implications for global and local conflicts over shared water resources.
Saudi Arabia plans to build Pakistan's largest oil refinery near Gwadar port, the flagship project of the China-Pakistan Economic Corridor (CPEC). The oil refinery, part of Saudi Arabia's new commitment to invest $15 billion in Pakistan over the next three years, could fuel competition with Beijing for economic leverage given China's significant investment there under CPEC, reports the Nikkei Asian Review.
Saudi Arabia plans to set up a $10 billion oil refinery at Pakistan's Chinese-funded Gwadar port, according to a statement given by the Saudi energy minister. Pakistan's petroleum minister, Ghulam Sarwar Khan, has said that the project will make Saudi Arabia an important partner in the China-Pakistan Economic Corridor.
The government of Pakistan awarded a $2.21 billion contract to build the Mohmand dam to a consortium of China Gezhouba and Descon—the latter founded by Abdul Razak Dawood, the prime minister's adviser on commerce and industry. The conflict of interest has drawn scrutiny from the government's leading opposition party which has called for an investigation of the project's procurement process.
Pakistan is asking China to shift its investment focus from power and infrastructure projects to industrialization, agriculture, and education as regards the China Pakistan Economic Corridor, reports the Nikkei Asian Review.
Reconnecting Asia tracks infrastructure developments across Eurasia, a vast landmass that includes 60 percent of the global economy. Every day, new infrastructure projects are announced, some are advanced, and others encounter obstacles. Here is a selection of projects and trends we will be watching in 2019.
Pakistan faces a financial crisis and has secured a bailout package from Saudi Arabia, but surprisingly, it has yet to secure a similar package from China. Pakistan expected a decent bailout package from China, which is often called Pakistan’s all-weather friend, but China likely wants more detailed negotiations. Five reasons help explain China’s surprising response.
Five years into China’s massive Belt and Road Initiative, the United States is trying to respond to Xi Jinping’s infrastructure-building spree. In an interview with The Wall Street Journal, Reconnecting Asia Director Jonathan Hillman discusses the craving for more alternatives to Chinese offers and the window of opportunity it creates for the United States.
As he heads for a face-to-face meeting with Chinese President Xi Jinping, Pakistan's Prime Minister Imran Khan is reportedly planning to renegotiate CPEC and to make it align more with Pakistan's interests, reports the Nikkei Asian Review.
When it was launched, China heralded its Belt and Road Initiative as a “golden opportunity” to revitalize the region, but today it has raised serious concerns about debt sustainability, drawing scrutiny from the IMF. One way for Beijing to demonstrate its commitment to addressing the IMF's concerns is by partnering to develop more sustainable and transparent lending practices.
Pakistan has formally asked the International Monetary Fund for financial assistance amid pressure to meet external debt obligations, reports the Nikkei Asian Review. IMF help will require absolute transparency on the nature, size, and terms of the country's debt, including its BRI investment from China.
Five years after the announcement of China's Belt and Road, the ambitious drive to build new infrastructure across Eurasia has produced a mixed track record on key issues such as its energy footprint, debt sustainability, and environmental impact.
“Along with commercial opportunities, China’s overseas digital infrastructure projects carry geopolitical and strategic implications, paving the way for China’s technological dominance and furthering its ability to set global standards under the banner of its Belt and Road initiative.”
Pakistan's new prime minister Imran Khan is deciding whether the country should turn to the International Monetary Fund or to China for financial support. The new administration must resolve its shortage of foreign exchange reserves caused by a sharp increase in imports through BRI-related projects and the redemption of external debt.
The U.S.'s recently announced plan to invest $113 million in infrastructure throughout the Indo-Pacific region will have a limited impact and pales in comparison to China's multi-billion dollar Belt and Road Initiative, according to Dr. James Crabtree of the National University of Singapore.
Energy projects account for more than 60 percent of the roughly $62 billion in investment along the China-Pakistan Economic Corrdior. While CPEC's power plants have the potential to greatly increase access to electricity for Pakistan’s population, they could also pose serious risks to surrounding wildlife.
AIIB president Jin Liqun announced his intent to create financial stability for the bank's 87 member countries and establish the AIIB as a multilateral development bank commensurate with the World Bank Group, Asian Development Bank, and European Bank for Reconstruction and Development.
Most countries along the BRI have urgent infrastructure development needs and many are considered too high-risk for traditional investors, the result being that their governments have been highly receptive to Beijing’s offers of financing, building, and operating infrastructure projects.
Pakistan is offering an ambitious tax amnesty program which it hopes will help the country borrow $60 billion from China and commercial sources for the China-Pakistan Economic Corridor.
A close look at the characteristics of China's port projects in the Indo-Pacific suggests that rather than resulting in "win-win" economic prosperity, they are generating political leverage, increasing Beijing’s military presence, and reshaping the strategic operating environment in China’s favor.
Seven CSIS experts unpack the economic and geostrategic implications of China’s infrastructure development across the Indo-Pacific region under the Maritime Silk Road.
The city of Karachi, Pakistan's business capital, is planning to improve its bus and rail networks to ease traffic and accelerate economic growth.
A special report by Nikkei Asian Review and The Banker which leverages data from the CSIS Reconnecting Asia Project has found that China's Belt and Road initiative holds considerable promise for countries in need of infrastructure investment along its route, however, participation has been hampered by challenges ranging from a lack of participation by local workers and banks to unmanageable debt hangovers.
As Europe disappears, Asia coheres. The supercontinent is becoming one fluid, comprehensible unit of trade and conflict, as the Westphalian system of states weakens and older, imperial legacies – Russian, Chinese, Iranian, Turkish – become paramount.
Nearly three years into CPEC, a number of projects have moved forward at breakneck speed, yet costs remain high and political rivalries still threaten to derail progress.
A strategy by Japan toward Pakistan and other recipients of large-scale Chinese investment could create opportunities for Japanese companies and present a Japanese alternative to China's state-led development model.
Reconnecting Asia is tracking developments across a vast landmass that includes 60 percent of the global economy. Every day, new infrastructure projects are announced, some are advanced, and others encounter obstacles. Here is a selection of the top projects to watch in 2018.
In Nepal, Sri Lanka, Pakistan, the Maldives, and Myanmar, Beijing is pulling South Asia into its orbit.
Iran's Chabahar port could herald the start of a challenge to China's expanding geostrategic links.
Quotes and Quotas is a weekly digest of powerful phrases and facts that help explain Asia’s infrastructure push.
This analysis evaluates the proximity of Pakistan's population to the China-Pakistan Economic Corridor's highway network.
Malaysia's largest mobile telecom company by revenue, Axiata Group, is buying 13,000 telecommunications towers in Pakistan in a deal worth $940 million as it seeks to consolidate its footprint in the region.
What might have alarmed U.S. strategists during the Cold War could be cause for relief. The addition of India and Pakistan to the Shanghai Cooperation Organization signals a potential shift away from military coordination and toward economic cooperation.
Is the “City of Gold” a miracle or a model for development?
A selection of the top projects we’re watching this year.
The China-Pakistan Economic Corridor (CPEC) traverses some of the world’s most dangerous terrain. Terrorist attacks have declined in Pakistan, but insecurity remains a major risk for ambitious projects.
Islamabad will double the number of guards protecting Chinese workers on the China-Pakistan Economic Corridor from 15,000 to 30,000, Nikkei reports.
India and China want stronger economic ties, Amy Kazmin reports in today’s Financial Times, but infrastructure investment in Kashmir remains a point of contention.