Mr Muhammad Faisal1
1University of Technology Sydney, Australia
Biography:
Muhammad Faisal is a PhD candidate at the University of Technology in Sydney researching Pakistan’s foreign policy decision-making as it navigates intensifying great-power competition across South Asia and the Indian Ocean region. Faisal was a Research Fellow at the Institute of Strategic Studies Islamabad for nearly seven years, where he tracked Pakistan’s regional relationships, particularly with China. He has also been a visiting fellow at the Stimson Centre in Washington, D.C., and Centre for Non-Proliferation Studies in Monterey, California.
Abstract:
In 2013, China had termed China-Pakistan Economic Corridor (CPEC) a flagship project of Belt and Road Initiative. Since then, China has sought to portray development and security cooperation under CPEC and BRI with Pakistan as a ‘model’ for building a community with a ‘shared future’. Pakistan, on its part, has repeatedly pledged to ensure successful implementation of CPEC projects and plans ‘at all costs’. This was manifestation of decades-old ‘strategic partnership’ between Pakistan and China, where Beijing had considerable sway in terms of influence and favourable environment. Yet, despite these comparative advantages, CPEC projects have run into trouble with domestic politics, economic crises and security challenges. Now while, both Pakistan and China continue to state that CPEC remains on track and they will deepen cooperation, policy measures by both Islamabad and Beijing indicate that CPEC has run its course, with Pakistan now grappling with an existential economic crisis, while owing 27 percent of its external debt to China, which also continues to provide emergency lending to avoid Pakistan from declaring sovereign default.
This paper will explore how CPEC has progressed over the past decade? And in the process what are the political and security challenges of CPEC for Pakistan? Despite claiming that they are ‘all-weather friends’ why does this close relationship to address CPEC challenges? What does last decade of CPEC engagement mean for future of Pakistan-China relationship and pursuit of ‘shared future’?