The Acting Assistant Secretary of State for South Asia, Alice Wells has warned Pakistan of the daunting effect of China-Pakistan Economic Corridor (CPEC), urging Pakistan to shift to the US business model instead.
Wells said this while addressing a conference at Woodrow Wilson International Center for Scholars in Washington on Thursday, adding that the mega infrastructure project has been designed to benefit only China and it will take a toll on Pakistan’s economy which will hamper Imran Khan’s reforms agenda.
ALSO READ
Pakistan and China to Collaborate on Four Oil & Gas Projects Under CPEC
She further said that with the bulk of payments due in the next 4-6 years and that the corridor is not about aid.
Even if loan payments are deferred, they are going to continue to hang over Pakistan’s economic development potential, hamstringing Prime Minister [Imran] Khan’s reform agenda.
Part of the wider $1 trillion ‘Belt and Road’ initiative, the CPEC is driven by non-concessionary loans and relies heavily on Chinese materials and labor despite alarming levels of unemployment in Pakistan.
ALSO READ
China to Invest $10 Billion in Oil and Gas Sector: Khusro
Wells told the audience that the US investment via private firms and grants can uplift Pakistan’s economy.
There is a different model. Worldwide we see that U.S. companies bring more than just capital; they bring values, processes, and expertise that build the capacities of local economies.
Via RFERL
Bring Paypal and other US tech companies to Pakistan if you want to show your sincerity.
کھسیانی بلی کھمبا نوچے
She’s right. China doesn’t do charity. If you don’t believe me then just google what China is doing with Uyghur Muslims. Putting them in concentration camps, harvesting their organs without anesthetics while they’re still alive just to sell those organs in the black market. Even India isn’t that cruel with Muslims.
China wouldn’t do a $50 billion investment anywhere without making sure that it’ll get at least double back. Nobody would. Money always comes with strings attached. Especially billions of dollars.
100% correct — USA has had its chance in the last 70 years — it has done very little for Pakistan economically;
Instead it actually stole our money (from the famous F-16 payments, which never got delivered due to Benzair asking their congress to apply pressler amendment despite having been paid fro in full, to re-imbursements for using our roads for shipping material to Afghanistan).
So very correct — the country which did next-to-nothing for us in 70 years, should shut its trap, and let us move in the right direction.
Anyway Americans have a more beautiful slave to enjoy now in India, they should forget Pakistan.
100% correct — USA has had its chance in the last 70 years — it has done very little for Pakistan economically;
Instead it actually stole our money (from the famous F-16 payments, which never got delivered due to Benzair asking their congress to apply pressler amendment despite having been paid fro in full, to re-imbursements for using our roads for shipping material to Afghanistan).
So very correct — the country which did next-to-nothing for us in 70 years, should shut its trap, and let us move in the right direction.
Anyway Americans have a more beautiful slave to enjoy now in India, they should forget Pakistan
he is right cuz china gonna take billions of $$$ profit till we pay our debt. we should not rely on other countries and take every control of economy to ourselves.
USA has had its chance in the last 70 years — it has done very little for Pakistan economically;
Instead it actually stole our money (from the famous F-16 payments, which never got delivered due to Benzair asking their congress to apply pressler amendment despite having been paid fro in full, to re-imbursements for using our roads for shipping material to Afghanistan).
So very correct — the country which did next-to-nothing for us in 70 years, should shut its trap, and let us move in the right direction.
Anyway Americans have a more beautiful slave to enjoy now in India, they should forget Pakistan