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.
As demand for bandwidth grows along China’s Belt and Road initiative, Chinese involvement in technology, media, and telecommunications projects will continue to rise. Along with commercial opportunities, these 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.
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'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.
Even if Belt and Road investment declines in the future, whether for political or economic reasons, the influence of Chinese constructors and planners on regional markets will continue to be apparent, from the alignment of high-speed railways in Indonesia to the design of residential and commercial developments in city centers.
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.