Rethinking foreign investments in Pakistan |
Rather than being drawn into increasingly complex geostrategic conflicts, Pakistan has sought to leverage its geoeconomic potential, but unlike regional peers, it has struggled to attract significant foreign investment. Traditional investors like the UK, the US and Gulf states have contributed only modestly, leaving Pakistan in search of new economic partners.
More than a decade has passed since Pakistan persuaded China to launch CPEC. Alongside closer military cooperation, China has become Pakistan's largest foreign direct investor. Chinese investments have expanded beyond infrastructure and energy to include mining, agriculture and renewable energy projects. This deepening Chinese engagement with Pakistan has prompted concern in India and the US, both of which seek to counter China's influence.
US-supported initiatives examining Chinese influence in the Global South, such as the AidData project at William and Mary University, offer a cautious assessment........