CPEC and Globalization: An Appraisal of socio-economic impact on Pakistan

Abstract

China Pakistan Economic Corridor (CPEC) is China's biggest incentive which has potential to bring socio-economic development in Pakistan in this globalized world. This study will explore the impact of CPEC on Pakistan and how this project will be a gateway for Pakistan’s future endeavors through interconnectivity and developmental projects. The complexity of today’s world and accelerating driver of world activities needs mobilizing activities and sustainable development projects such as infrastructure, renewable energy programs, Industries, and roads networks. China and Pakistan have long-term understanding of cooperation and development and the fast process of globalization requires the features of globalization as it guarantees the development of countries like Pakistan. The objective of this paper is to highlight the ability of CPEC and its long-term impact on Pakistan’s economy. Globalization has its negative and Positive impact, but to fully exploit benefits in the socio-economic sector, it needs security, effective guidance, transparency, and global market access.