BEIJING: Associate Professor for Institute of International Relations in China’s Foreign Affairs University, Dr Gao Wangli has said that China Pakistan Economic Corridor (CPEC) including other various infrastructural and developmental projects was a part of the One Belt One Road (OBOR) initiative and aimed to provide quality of life to 63 percent of the population of member countries.
While addressing a delegation of journalists, Wangli said that the CPEC was moving ahead smoothly and being of much benefit to the Pakistan.
She said that the Asian Infrastructure Investment Bank (AIIB) have also been financing Pakistan on the Shorkot-Khanewal section of the National Motorway (M-4).
She highlighted the fact that with the maximum utilization of train networks linking China with European countries, a China-Europe journey will be completed in 11 days as opposed to the current 45 days via maritime routes.
She went on to say that under the vision of “Made in China 2025” equipment for robots, maritime engineering, space technology, information technology, advanced subways, pharmaceuticals, agriculture and green cars were being recognized all around the world.
She stated that the manufacturing industry was performing very efficiently and now half of world’s televisions were being developed in China.
She noted that the second and third largest economies of the world were in Asia but the nine least developed countries of the globe exist in the same continent while more than 700 million Asian people lived under $ 1.25 a day, which meant that 60 % of the worlds population lived in poverty.
She quoted a Chinese saying, “To build fortune, roads should be built first”
She added that Asian infrastructure demands were exponentially higher than what institutions like the World Bank, Asian Development Bank and International Monetary Fund (IMF) were currently providing.
She mentioned that along with the 57 founding member countries, AIIB was established under the patronage of China which has started financing projects in various countries.
Adding that 52 Eurasian countries, 10 ASEAN nations, 14 European countries, 6 countries of Shanghai Cooperation Organization, The United Arab Emirates, Oman, Iran, Jordan, Kuwait, Qatar, Saudi Arabia, 2 countries from Oceania, 2 from Africa and one from Latin America have become members of the AIIB.
She also stated that more than $ 340 billion have been allocated for hundreds of projects under the AIIB, BRICS New Development Bank, CDB, Exim Bank, ADBC and Silk Road Fund linking with the OBOR initiative.
Dr Wangli also added that OBOR initiative will be beneficial for 63 % of population having the share of 2.1 trillion USD in GDP with 29 % of world’s output.
She also added that OBOR have recognized Chinese culture, cuisine and music around the world and people were getting used to the new kinds of music, delicious taste and traditions having the history of more than 5,000 years.
Published in Daily Times, September 17th 2017.
