Pakistan’s bumpy road to China

With investments slumping and exports declining, Pakistan is banking increasingly on the China-Pakistan Economic Corridor (CPEC) to drive future growth.

The International Monetary Fund (IMF) and the State Bank of Pakistan have both billed the corridor as the best bet to lift Pakistan’s growth, which has picked up marginally to 4.7% last fiscal year but remains far short of the target of 6.5% needed to absorb new entrants into the labour force.