Political Economy of Regional Integration: A Case of China-Pakistan Economic Corridor (CPEC)

Abstract

The states are the collective political and economic manifestations of human behavior. Therefore, states act in similar manners as humans for their survival, security, growth, and development. History shows that states form groups, alliances, blocs, regimes, and integrations for their sustainable development. Sometimes, states compete with one another through military powers for their security and survival. Subsequently, military power and strength has been supplanted with economic security in the modern world. It has given birth to the regional integrations and connectivity for mutual growth and development of the regions, and it has also helped in the competition of one region against the other for establishing their power and strength. Each regional integration has political as well economic motives. In the same way, China-Pakistan Economic Corridor (CPEC) has its own political economy being part of Belt and Road Initiative (BRI) which is latest example of regional integration in the recent times. CPEC has not only political and economic benefits for Pakistan, but it also provides ample opportunities to the country for regional connectivity and integration for sustainable economic growth and development. Therefore, it is significant to explore the implications of CPEC in terms of political, and economic which has been dealt in this research study through a qualitative research methodology. This study has revealed that CPEC has great political and economic insinuations for Pakistan, and it can help in the sustainable growth and development of the country if its diverse range of projects are governed effectively.