Chinese viability
Pakistan-China relations are time tested and with the passage of time have stood their mark. In the post-Covid era, the need is to buoy it on a new arithmetic, as Pakistan also faces the additional challenges of being ravished at the hands of monsoon floods. Thus, Prime Minister Shehbaz Sharif’s debut visit to Beijing will remain glued on the economic matrix, and there is a lot that the economic superpower can do to ameliorate the lot of a country that is at the verge of default. Salient features of the two-way dialogue, accordingly, will revolve around global economic slowdown, spiral in food and oil prices, as well as how fast to restore the supply chain disruptions.
The premier luckily will be meeting an all-empowered Chinese leadership in the backdrop of re-election of President Xi Jinping as secretary general of the Communist Party, and his all set third-term as the head of state. Given to understand the cordiality of relations, Pakistan will be in a better position to reorient the soft lines of re-engagement and plead a viable case of bailout and direct foreign investment from Chinese resources. Islamabad is already looking forward to a rollover of $6.5 billion Chinese loan, as well as going lenient with Chinese commercial banks.
The all-weather friendship is up for a catalyst test too, especially as the United States is bent upon drawing the lines of alignment in the region. Pakistan and China should stick to the special status of their versatility, and go ahead with their new stated resolve of geo-economics. The fact is that Pakistan is willing to cooperate with all the regional states, including India, in an attempt to make the Chinese flagship initiative of China-Pakistan Economic Corridor a success.
While Pakistan is China’s largest trading and investment partner, with a staggering $60 billion investment in CPEC, it must walk ahead for a free trade agreement, and industrial technology amalgamation. Areas such as climate change, agriculture and informational technology can pave the way for a robust and profitable interaction.
Published in The Express Tribune, November 1st, 2022.
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