Pakistan's economic improvement obvious under CPEC: Expert
BEIJING: (APP) As Chinese investments in the frontier markets have the potential to mitigate repercussions from global economic uncertainties, the Pakistan's economy was obvious to see improvement under the China Pakistan Economic Corridor (CPEC).
According to Ali Khalpey, an expert at Egyptian investment bank EFG Hermes, the Chinese investments play a very important role in frontier countries, a Chinese newspaper "Global Times Online" reported on Wednesday.
He said, the Chinese gross domestic growth has a huge impact on all frontier markets, adding that for example, Pakistan's economic improvement under the China Pakistan Economic Corridor (CPEC) is obvious to see.
Ali Khalpey said, frontier markets are economies which have left the status of a least developed country, but still lag behind the size and rating of emerging markets.
"CPEC does not only represent a financial upgrade, but also one on human resource, from which people on the ground in Pakistan reap benefits," Khalpey said.
The CPEC framework is one of the six economic corridors that play a major role in China's Belt and Road Initiative, which is aimed at creating a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.