PROSPECTS OF BILATERAL DEVELOPMENT IN PAK-CHINA ECONOMIC RELATIONS

Author(s) : Dr. Musarrat Jabeen

Abstract:

Pakistan and China enjoy a multi-dimensional friendship that has passed the test of international vicissitudes. Both sides never disturb their friendly ties despite changes on regional and global environment. Since 1980s, China’s foreign relations have become economy-centric and it has launched major economic and social reforms to modernize the country. Its economy enjoyed sustained and rapid development. The GNP increased at the rate of 9.9 percent annually from 1975 to 1995, and income of urban and rural population raised and touched the figure of 6.3 percent. This growing economy has made China an economic power of the world. Pakistan needs to take benefit of its time-tested friendship, which is not yielding desired results in economic field. In Pakistan, there is need of commitment with vigorous efforts to move on the path of economic reforms. With Chinese support, Pakistan has completed many projects while several are underway. There are still several areas, which want the attention of both sides urging mutual attempts to get benefits. New avenues of cooperation should be explored with a view to constantly expand the scope of economic development and laying solid foundation for closer bilateral ties. The paper is aimed to highlight those areas where more Chinese cooperation and assistance are required with discussion on the impediments that need to be addressed with proactive and supportive policies.