Page 598 - SSB Interview: The Complete Guide, Second Edition
P. 598
Features
The initial budget for this project was $46 billion. But now, it has
reached $62 billion in which $29 billion is given as loan and $33 billion
as investment
It covers a 3,000-kilometre network of roads, railways and pipelines
which will help China to transport oil and gas from Gwadar port situated
in South Pakistan to Kashgar city in Xinjiang Uyghur autonomous
region in China
It is aimed at maintaining the economic growth rate of China by creating
a trade route with other countries
A total of 51 agreements and a Memorandum of Understanding worth
$62 billion have been created to promote CPEC
Benefits for China
They will get an alternate route for trade despite the South China Sea
dispute
This project will help to develop Xinjiang province in China where
Kashgar city is located
It will help China to maintain its economic growth rate thereby
maintaining its GDP
China can increase its global influence through trade relations with other
countries
Developing roads in Pakistan will help China to transport commodities
arriving at Gwadar port easily to China
Drawbacks for China
