Responding to the China-Pakistan Economic Corridor challenge4 min read 30 Nov 2017, 11:43 PM IST
Given the challenges that China-Pakistan Economic Corridor is facing, India will need to do much more to provide an effective counter-narrative
The China-Pakistan Economic Corridor (CPEC) has been attracting a lot of attention lately and for all the wrong reasons. Pakistan has reportedly rejected China’s offer of assistance for the $14 billion Diamer-Bhasha Dam, asking Beijing to take the project out of the $60 billion CPEC so that Pakistan can build the dam on its own. Because the project was in a disputed territory, the Asian Development Bank had refused to finance it. So China was keen to step in but Pakistan realized that the tough conditions being imposed by Beijing pertaining to the ownership of the project, operation and maintenance costs, and security of the dam would make the project politically and economically untenable. It gravitated, therefore, towards self-financing.