
China’s Maritime Silk Road
Seven CSIS experts unpack the economic and geostrategic implications of China’s infrastructure development across the Indo-Pacific region under the Maritime Silk Road.
Seven CSIS experts unpack the economic and geostrategic implications of China’s infrastructure development across the Indo-Pacific region under the Maritime Silk Road.
A special report by Nikkei Asian Review and The Banker which leverages data from the CSIS Reconnecting Asia Project has found that China’s Belt and Road initiative holds considerable promise for countries in need of infrastructure investment along its route, however, participation has been hampered by challenges ranging from a lack of participation by local workers and banks to unmanageable debt hangovers.
Nearly three years have passed since the China-Pakistan Economic Corridor (CPEC) was formally launched. Several projects have come online, and a critical mass of electric power and infrastructure projects will be operational within the next 12 to 18 months. Now, more than halfway through the first of CPEC’s three five-year phases, is an opportune moment to assess how Beijing and Islamabad have fared so far in pushing forward the massive, fifteen-year connectivity project, valued at upwards of $62 billion.
Connectivity is an old game that great nations have played since times immemorial. To sustain its empire, Rome supposedly paved 55,000 miles of roads and built aqueducts across Europe. It is China’s turn to play this game now. Discussions on connectivity should address not only the physical infrastructure aspects but also the institutional, financial, commercial, legal, and management issues. International collaborative projects demand statecraft and sagacity of a unique order to reconcile different points of view.
Since it was launched two years ago, the China-Pakistan Economic Corridor has sparked praise, skepticism, and even violence, resulting in widespread confusion about what’s driving this $55 billion energy and infrastructure effort, and how it will impact the region.