China comes to Pakistan’s rescue with $60 billion for CPEC

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Pakistan, whose economy is already in a shambles, will in all possibility look towards China for financial assistance, according to experts. The relations between the US and Pakistan turned sour following the US President Trump’s tweet on January 1, wherein he tweeted that  “The US has foolishly given Pakistan more than $33 billion in aid over the last 15 years, and they have given us nothing but lies & deceit, thinking of our leaders as fools.”

“They give safe haven to the terrorists we hunt in Afghanistan, with little help. No more!”, he said in a strongly worded warning to Pakistan. Unveiling his new South Asia policy in August, Trump had warned of tougher measures against Pakistan if it failed to cooperate with the US in the fight against terror.

China, being the largest investor in Pakistan in the last couple of decades, has invested heavily in distressed Pakistan economy to help it function in a sustainable manner. Citing reports, news agency ANI said, Beijing is planning to inject around USD 60 billion into China-Pakistan Economic Corridor (CPEC).  With the view to bringing about overturn in Pakistan debt-ridden economy there is a massive plan for huge investment in sectors like power, roads rail networks, and deep-water port etc.

However, experts feel that China’s ‘cheque-book’ diplomacy could dictate the terms of investment and put extra pressure over Pakistan, keeping in mind its greater reliance on Chinese money.

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