Pakistan’s latest economic survey reveals the extent of the country’s indebtedness to China. High-interest Chinese loans, reckless multilateral borrowing, and ever-increasing defence budgets have deleteriously impacted Pakistan’s finances. Any lasting solution to these problems will have to involve China.
The China-Pakistan Economic Corridor with its unaffordable power projects is one reason for Pakistan’s current economic crisis. Pakistan has ended up with capacity it does not need, relying on fuels it is importing at a high cost