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India skips China's Silk Road summit, warns of 'unsustainable' debt

Updated May 15, 2017 08:10am

India has not sent an official delegation to attend the “Belt and Road Forum” in Beijing and instead criticised China's global initiative, warning of an “unsustainable debt burden” for countries involved.

Chinese President Xi Jinping is hosting dozens of world leaders and senior officials on Sunday for the country's biggest diplomatic showcase of the year, touting his vision of a new “Silk Road” that opens trade routes across the globe.

Government officials from New Delhi did not travel, Indian officials said, although scholars from Indian think-tanks have flown to Beijing to attend some of the meetings at the forum.

Indian foreign ministry spokesman Gopal Baglay, asked whether New Delhi was participating in the summit, said India could not accept a project that compromised its sovereignty.

India is incensed that the China-Pakistan Economic Corridor ─ one of the key Belt and Road projects ─ passes through Kashmir and Pakistan.

“No country can accept a project that ignores its core concerns on sovereignty and territorial integrity,” Baglay said.

He also warned of the danger of debt. One of the criticisms of the Silk Road plan is that host countries may struggle to pay back loans for huge infrastructure projects being carried out and funded by Chinese companies and banks.

“Connectivity initiatives must follow principles of financial responsibility to avoid projects that would create unsustainable debt burden for communities,” Baglay said.

New Delhi's criticism of the Belt and Road initiative came as Xi pledged $124 billion to the plan, and called for the abandonment of old models based on rivalry and diplomatic power games.

Leaders from 29 countries and ministerial delegates from many more are attending the forum in Beijing, including India's smaller neighbours ─ not just Pakistan, but also Sri Lanka and Nepal.

Baglay said India supported greater connectivity across the region and listed the initiatives it was involved in, including highway projects and the North-South corridor in Central Asia, but he said these had to be developed in a transparent manner.

“We are of firm belief that connectivity initiatives must be based on universally recognised international norms, good governance, rule of law, openness, transparency and equality,” he said in a statement.

As well as the corridor through Pakistan, India is worried more broadly about China's economic and diplomatic expansion through Asia, and in particular across countries and waterways that it considers to be its sphere of influence.

Comments (332) Closed

May 14, 2017 01:23pm

Some are taking part in the Silk Road project and some just sulking.

MJ Khan
May 14, 2017 01:27pm

India is wrong. NS & CPEC will make us richest country in the world. We take loans from Chinese bank to pay Chinese workers to build our roads and then we have to return the loan with interest to china. Its win-win situation

May 14, 2017 01:27pm

the confused nation first said that OBOR part CPEC is passing through a disputed area and now warning of unsustainable debt. Confused nation needs to decide what is their main concern. After that decision, they should put up a request through proper channel and both Pakistan and China will consider it.

May 14, 2017 01:29pm

my country is acting like a fox who has its tail cut now it is asking other countries to do the same

May 14, 2017 01:29pm

Great decision by India... Generations to come, including Chinese Govt, will respect and appriciate this bold decision of Indians.... Stand on your own feet,dont expect others to build roads and power station for you in free..

May 14, 2017 01:29pm

Look at Srilanka and Southafrica projects before they were all big failure.

May 14, 2017 01:30pm

this CPEC is a white elephant.

May 14, 2017 01:30pm

@Harmony-1© China is one country which exports too much and now they are the one who are giving countries loans to build roads as part of OBOR. Funny thing is almost all projects are being completed by Chinese companies. Just imagine, Loans, work for Chinese companies(employment) and then money back with interest. Enjoy CPEC.

May 14, 2017 01:35pm

Let's see who is wise in the end, both can't be right.

May 14, 2017 01:35pm

India got North South Economic corridor. For which dry run are completed. Delhi Mumbai industrial corridor is itself 90billion DOLLAR project.

May 14, 2017 01:36pm

India doesn't want to come under Chinese influence. May be India fears China.

May 14, 2017 01:42pm

“We are of firm belief that connectivity initiatives must be based on universally recognised international norms, good governance, rule of law, openness, transparency and equality,” he said in a statement.

this should be the criteria, just bec my govt will say its game changer we will not accept, unless everything eevry detail, every financial agreement, trade agreement ect is in public domain

and chian does not do it, hence as a democracy no govt in india can join it, bec people will throw that govt away at election time

May 14, 2017 01:51pm

@Sheraz We are happy in our confusion or whatever and you be happy with whatever you are doing. We do or we do not do, based on what is best for our country, as per our own perceptions. It is none of your concern.

China first
May 14, 2017 01:54pm

Benefits for Chinese in CPEC. 1. Interest for loan. 2. Employment to its citizens. 3. Profits from sales and services to its industries.

Costs for countries participating. 1. Repayment of loans. 2. No employment to its citizens in the CPEC project. 3. Loss due to closing down of local industries due to CPEC and people being jobless

sikander shallwani
May 14, 2017 02:00pm

CPEC is on fast track. Don't cry, it is too late now

May 14, 2017 02:01pm

@Harmony-1©..and some are so filled with hate that they cant see clearly or comprehend sane voices within own country.

May 14, 2017 02:08pm

@influence In your dreams, Wait and watch what is the cunning aim of China will be revealed very soon

May 14, 2017 02:09pm

Everyone should look after there own intrests so that it helps the people. Otherwise all the money will end up in the pockets of politions .

lost cause
May 14, 2017 02:11pm

I think India's concern about sovereignty and unsustainable debt are real. Both are a potential risk for future. Repayment of US $5 billon by Pakistan every year should come from earnings from the project. Then the debt will be sustainable. Which probably is a tall order. But still best luck.

May 14, 2017 02:11pm

superb india

May 14, 2017 02:19pm

Those who have backbone, stand up on their own..................

May 14, 2017 02:19pm

China can change the world without India.

Saif zulfiqar
May 14, 2017 02:20pm

India's best friends Bangladesh, Nepal and Bhuttan also attended.

Zakir hussain
May 14, 2017 02:22pm

Another hambantota of srilanka in making.

May 14, 2017 02:24pm

@MJ Khan at what interest rate? That is the big question.

Adnan aziz
May 14, 2017 02:30pm

We damn care for debt and interest that will have to be paid back to China.

We believe only in pomp and show.

Moreover China might right off any interest seeing our chronic economic backwardness.

May 14, 2017 02:37pm

@HARMONY-1© 'Some are taking part in the Silk Road project and some just sulking."

Very true ..Sir sulking like Sri Lanka, ..........where an unviable Hambantota port project has left Colombo reeling under an $8 billion debt, Pakistan may be headed in the same direction; Laos is trying to renegotiate a railway project, Myanmar has asked for its own renegotiation; a Belgrade-Budapest railway line to be built by China is under investigation by the EU.

Chinese infrastructure projects in foreign countries are typically executed by state-owned enterprises, while financing programmes, which initially appear attractive, sour quickly.

May 14, 2017 02:38pm

Your loss! The problem with India and Indians is that despite having potential they get involved in bickering over issues that are 'petty' in bigger scheme of things. Look at the way Indian political parties function within the country and subsequently when they come to the power.

Neutral Indian
May 14, 2017 02:40pm

@Harmony-1© I don't believe any one's sulking here. India is just being wary of China's intentions, just like some neighbour of India attributed negative motives to the saarc satellite project.

raj kumar
May 14, 2017 02:41pm

@Sheraz Pakistan will consider,really? You are taking loan from china for even buying may be a pen being used in cpec project,and you still want to consider. So kind of you sir.

May 14, 2017 02:41pm

@Harmony-1© - Check the kind of countries that are taking part in the initiative. You would get a clear idea my friend

May 14, 2017 02:42pm

@Saif zulfiqar so what they all are soverign countries

May 14, 2017 02:42pm

@MJ Khan - And from those roads you can collect toll upto $4 billion per annum as per your government and 4% of the world trade would pass through Gwadar.

india first
May 14, 2017 02:43pm

times have changed. china wants their projects to be completed by their workers at the loans provided by them. now this seems attractive, but then eventually borrower country has to pay the loans. and when the day occurs, the chiniese policy would ask for the amount which would be unberabale for the smaller countries. or else become the economic slave of the china by giving them projects to complete. for a rich country this seems a lucrative deal as they would be in a position to repay the loan but what about poor/semi poor countries? think about this, this iis not a hate pakistan massage, but a warning fo teh future to come.

May 14, 2017 02:49pm

@Harmony-1© .. Some fell on their knees infront of flowing money.. Some stay defiant with their head high.. Nothing comes in way when its matter of territorial sovereignty

May 14, 2017 02:49pm

First India opposed CPEC because it passes thru Kashmir but now it is opposed because of unsustainable debt. Make up your mind guys what exactly you are complaining about.

I have an answer. India will oppose any initiative that benefits China and/or Pakistan.

May 14, 2017 02:50pm

Chines bank give loans. Other participating countries use them to pay off chinese companies & workers. You have infra in place and the chinese use it to send goods to your country and import any commodities. I see everything in this for the chinese and none for the participants, except the infra and a massive debt to be paid off.

May 14, 2017 02:50pm

Good decision. India comes first for Indians.

raj kumar
May 14, 2017 02:52pm

@Kaz agree with you,standing on yr own feet will be painfull but ultimately it will strengthen yr spine and give you much room to negotiate. Though many may not think in this way and best of luck to them.yr country,yr people and yr path.

May 14, 2017 02:52pm

If India had any self-confidence it would join and share its 'wisdom' and insight from within the group of Neighbours. But since India wants to be hegemony it wants to stay out and be a disruptive and negative force for the region.

May 14, 2017 02:55pm

@Kaz Both India and Pakistan have crumbling infrastructure. Pakistan is using CPEC to build roads and rail links and communication links. China will not do it for free. No one will. CPEC is a win win for both China and Pakistan. Maybe a bit more for China but they are putting up the money so expect a bit more which is ok. At the end of the day Pakistan will have better infrastructure than India and India will still be sitting there wondering what went wrong.

May 14, 2017 02:56pm

There is something called as feasibility study report. Not sure if our PM Nawaz Sharif knows about that.

Dr Ahmad - Melbourne
May 14, 2017 02:57pm

Grapes are sour for some.

Najeeb Ahmad
May 14, 2017 02:57pm

@Tom 2-3%

jai Hind
May 14, 2017 02:58pm

good, India should follow Independent economic policy others may have their reasons to participate but in every business there is high risk .History tells us tough competion has always made India stronger at least we will not be dependent on any country

May 14, 2017 03:00pm

Seems india is going into isolation. Almost all of south asian countries attended the summit accept india. May be america assured them of underwater tunnel from new delhi to new york.

May 14, 2017 03:01pm

@China first, biggest loss to involving countries is that majority of the debt is given in chinese currency(like cement, steel, workforce) but countries need to pay in dollars

May 14, 2017 03:02pm

We don't want depend to China or Pakistan. ..we have some own stand in our decision. Big country big economy in the world. ..not like Pakistan

May 14, 2017 03:02pm

China is not the country which india can trust.

May 14, 2017 03:03pm

Sour grapes! India is slighted by the limelight being stolen by China after all the Modi euphoria from the US to Dubai few years ago.

After Trump mania had subsided that most Indians had supported the realities are sinking in. The racial attacks on Indians by Trump supporters in the US; the H-1B visa abuse clamp down, the firing of Preet Bhara - the former high-flying US Assistant Attorney from NY and lack of enthusiasm towards India by the US and European countries has left India licking its chops.

Oh, wait, I forgot to mention, India and Russia were the two largest countries attacked by Ransom hackers recently... Surprisingly, for all of India's IT acumen, the country is largely still using Windows XP systems, while China is advancing with its own manufactured Passenger Jets, Figher Jets, Air Craft carriers and soon, even its own electric cars. India is falling behind on many fronts.

May 14, 2017 03:04pm

@iab but 20% of the world is India and 20% is china. Without India China has 60% of the world of which , USA, Europe Latin America are too far to get into chines influence.

May 14, 2017 03:05pm

@Harmony-1© Indian's are intelligent.

They do not want to get trapped in Chinese debt, the way Srilanka was tapped by the Chinese and their strategic airport and stategic Habinatota Sea port were snatched by Chinesein-lieu of loans.

May 14, 2017 03:07pm

@Harmony-1© We always had clear stand.. A big no to China till they don't respect our interest..

May 14, 2017 03:08pm


You wish....

May 14, 2017 03:08pm

@Saif zulfiqar US and Japan are also attending. Does it mean China can change their fate? Attending meeting and participating in the real world are both different. India took a good decision. No debt please.

A shah
May 14, 2017 03:08pm

When your giant neighbor and the worlds fastest growing economy in the world is not interested then what chance has anyone else got.

Aaron parayil
May 14, 2017 03:10pm

@MJ Khan Are you even listening to yourself? You take Chinese loans to fund Chinese workers and build your roads and then you need to pay back the loan with interest and you're calling it a win-win situation. Clearly you have not seen or heard of how credit cards or loans work. India is taking the smart route. For those calling the CPEC a great success, I suggest you read about Habantota in Sri Lanka. The Chinese never give gifts. The only people who will come out of the OBOR with a win-win will be the Chinese.

India First
May 14, 2017 03:11pm

What is OBOR or CPEC -- its a trade connection to China only. If you fall in between the this trade-connect, China says you will benefit from the transit economy. However, you will get cash-flow as easy loans to build a road to connect the world to China. Whats China's benefit? More Manufacturing opportunities (i.e Production or Industrial-economy) making it's production manpower and infrastructure easily accessible to the world. What will transit nations get--only transit economy (generally considered 10% of the production/industrial economy). And for that the transit nations will build linking-infrastructure at their own expense (because China is only giving loans -- and those loans will be paid back to Chinese Contractors to build it). I see only China in a win-win-situation. Transit nations, once they had invested the Chinese loans into china-centric projects, will have to make them keep running, to get their 10% whilst China gets 90%. What a marvelous business model.

May 14, 2017 03:13pm

This project doesn't make sense in its current form. Connectivity is good. But after spending astronomical amounts, what will the countries gain by being connected by one more way, any way countries are connected through air and sea, maybe it is taking more time to reach, but does this high investment worth some saving in time. It is not saving any money, it clear. To me it seems like bullet train, high investment, high maintenance cost, much better to use air transport.

A shah
May 14, 2017 03:13pm

Without access to the worlds fastest growing economy and a giant country and on top of it all its your neighbor then China knows this imitative will fail.

May 14, 2017 03:15pm

I think right decision by India. Some countries sure become colony of Chinese and full dependent in future as they don't have capacity to pay back. This will create employment and growth in China only. First invest and then get back with interest. India is independent and mighty country who is not rely upon other countries for trade to grow. This is all about self respect and confidence shown by India.

May 14, 2017 03:17pm

@lafanga .You don't know how much India spend every year on road,railway,port,airport .It is in 100bn$every year. Still India need more to take off. Recently India made a 10km long tunnel in Kashmir with its own money and expertise.

May 14, 2017 03:18pm

@MJ Khan -You are really very funny !! Great sense of humour !!!

Sridhar Raghunatha Rao
May 14, 2017 03:19pm

The Economist had reported sometime back that CPEC is a costly project that attracts high rate of interest.

May 14, 2017 03:21pm

@Sheraz first cocern was for itself and second concern was for poor countries who think that they ll become richest by chinese investment as loan.

May 14, 2017 03:23pm

CPEC will be used to flood cheap Chinese products to Pakistan, Afganisthan, and Central Asian countries. It will also be used to import raw materials from these countries. Except for this there is no other utility of the project. Pakistan can count it's gain.

May 14, 2017 03:24pm

Indian Government had built the hype so much against it that it became impossible to back off.

May 14, 2017 03:25pm

CPEC will become a burden to a country like Pakistan because of its innate nature of external dependence on Chinese funds as loans to conduct such projects without local workforce utilization and much needed skill development for local labour. Pakistan should have some good economists check itself out or later foreign economists will perform post-mortem on Pak economy.

May 14, 2017 03:26pm

@lafanga all the best ...we meet after few decades...

May 14, 2017 03:27pm

@Neutral Indian - I don't think satellite comparison is correct here when someone can any minute just threaten to turn off the switch (just like water or cricket etc), then steering well clear of satellite on that basis was justified.

As far as OBOR, some trolls would have us believe that collective wisdom of all those participating is far inferior to the one who has got the hump.

Najeeb Ahmad
May 14, 2017 03:32pm

Before that i thought Modi has a great vision for his country but now I believe otherwise. China leads here not India..

raj kumar
May 14, 2017 03:33pm

@iab but we are not in competition with China to change to world,because we don't have that capacity.China may have it and good luck to them. However we have chosen to stand on our 2 feet and I think we have the capacity to do it.

May 14, 2017 03:34pm

The repayment of loans under CPEC will start after a decade. Let us enjoy the money which is coming now. After the decade, we will find another emerging superpower to bail us out when we can ditch China easily. We have experience in handling these kind of situarions.See how we dealt with a declining superpower earlier.

Qamar Rathore
May 14, 2017 03:34pm

@lafanga Well said, also the benefit for the government is transit fees, plus if central asian countries join in to export there Gas, Oil etc.. then Pakistan will benefit from this too, So in summary, better infrastructure then India, Money from Transit fees and Jobs for locals to run this, and finally a first class port city Gwadar

Iftikhar Husain
May 14, 2017 03:35pm

India is a part of International Investment bank with China and other countries why skip this in China. It seems because of the participation of Pakistan.

May 14, 2017 03:36pm

@lafanga best of luck Sir. But FYI, India doesn't have crippling infrastructure. India has suplus of electricity and it is Making highways @ 25 km per day. And has plan to take it 40 Km per day by end of next year. Japan has invested 103 billion at token .1 % interest rate in bullet train. Every single city have it's metro services i.e. new Delhi with a metro line comprising of 160 metro station is already world's 12 the biggest and is fast developing. We have started waterways on all our major rivers. You might want to know about India Railway... It's is one of world's largest. And is reaching far north east. We are no sort of funds. India can get money and it doesn't need to pay the exuberant rate of OROB. So overall, there is nothing for India to join this but still wish the participants best of luck. Enjoy..

May 14, 2017 03:36pm

India letting pettiness drive its agenda :)

May 14, 2017 03:37pm

@Chqudhary we have already land connectivity to china , so why we need cpec. also we have developed first phase of chabahar port and will do business with afghanistan and central asia thru this port, china is now 100% sure that they will not even get the interest amount from pakistan, forget about principal amount. and also if they sell their goods to pakistan , again it will be on credit basis. pakistan is in a win win situation, whereas cpec will be big failure for china.

May 14, 2017 03:40pm

nice. perfect.

May 14, 2017 03:41pm

Time will tell who was smart and who was not

May 14, 2017 03:43pm

@INDIAN or like the child who declared that the emperor had no clothes. China has over capacity of manufactured products, Western nations such as USA want to curb their import of these goods to create jobs for the under skilled in their own nations again, huge dollar reserve (Chinese are cautious consumers), a huge population that requires jobs, ability to control the workers effectively, the need to move its polluting industries from its lands. How is protecting your own weaker industries from dumping of impossibly manipulated cheaper products, people's jobs and the environment is negative? If all these economically and politically weak nations cannot meet the repayment, they have to give up their land assets and natural resources, enabling only the very elite benefit.

The only nation other than China that can socially benefit from all these is Pakistan. Calling all other nations is for China to get more bang for its buck.

May 14, 2017 03:44pm

@iab which type of change can China do for the world.

May 14, 2017 03:45pm

@China first

I am a Pakistani chemical engineer and I work at Sahiwal Coal Power Plant (a CPEC project). The engineering team mix is a 60% Pakistani and 40% Chinese. We were even sent to a free 8 month training in China on Huaneng Shandong's plants/institutes. So, yeah, so much for no jobs for Pakistanis.

May 14, 2017 03:45pm

"Leaders from 29 countries are attending the Belt and Road forum, which ends on Monday, including Russian President Vladimir Putin and Turkish President Recep Tayep Erdogan. Several other European leaders, including the prime ministers of Spain, Italy, Greece and Hungary, are also attending the summit."

May 14, 2017 03:50pm

China want to sell their products in cheapest transport and building the roads on other country money. Smart move.

May 14, 2017 03:53pm

@Harmony-1© Some need Silk road badly as the last hope to cling to, and some don't.

May 14, 2017 03:59pm

Look at the attendee list Greece, Italy, Spain, Srilanka, Russia - all bankrupt or heavily indebted countries attending so as to remain in Good books of their Master/lender - China !

May 14, 2017 04:00pm

@Harmony-1© Attending the summit does not imply participation, unless the countries are so broke that they don't care about the riders the funding comes with. India may have sent an official delegation to the summit like US did, just to figure out the real deals behind the facade. But due to the Gilgit-Baltistan route of CPEC, it was a no go.

Gurpreet singh
May 14, 2017 04:00pm

@Harmony-1© - If looking out for ones interests & staying firm is "sulking" then so be it.

GAUTAM (Netherlands)
May 14, 2017 04:01pm

@NAJEEB AHMAD "Before that I thought Modi has a great vision for his country but now I believe otherwise. China leads here not India.."

Some people have only two options......either to walk behind someone ...or walk before someone.India would like to walk together.....not follow China or US .........they may be stronger,mightier,wealthier !!!!

AND China has made their stand clear in the following statement:

"This is not a time-bound program. A country may join when it feels more confident about it. But this is a globalized world, and it would only help India if it joins the program.India should accept that the Belt and Road is now a fact of life. It is now a worldwide trend and cannot be reversed. India is a big economic block, and it will gain more from joining it ".

May 14, 2017 04:09pm

@ Harmony-1© - Fair enough! You decided to opt out of SAARC satellite due to your strategic concerns,which are valid in your eyes. We decided to opt out of OBOR based on our geo-political interests. The one-upmanship of trolls may be irrelevant, but you can't trivialise India's concerns as 'sulking'.

May 14, 2017 04:09pm

@Ahamd : @Harmony-1© China is one country which exports too much and now they are the one who are giving countries loans to build roads as part of OBOR. Funny thing is almost all projects are being completed by Chinese companies. Just imagine, Loans, work for Chinese companies(employment) and then money back with interest. Enjoy CPEC.

Moreover, they would use all those roads almost free, would export, expired, substandard, rejected by rich & advanced countries goods in your country, your country could not have guts to ask them for any tax, duty, as well in return they would gift you pollution...!

May 14, 2017 04:09pm

@ Harmony-1© - Fair enough! You decided to opt out of SAARC satellite due to your strategic concerns,which are valid in your eyes. We decided to opt out of OBOR based on our geo-political interests. The one-upmanship of trolls may be irrelevant, but you can't trivialise India's concerns as 'sulking'.

May 14, 2017 04:09pm

@China first - "Costs for countries participating. 1. Repayment of loans. 2. No employment to its citizens in the CPEC project. 3. Loss due to closing down of local industries due to CPEC and people being jobless"

  1. People being gunned down who are working on this project
May 14, 2017 04:11pm

@PakPower : And I am a Civil Engineer working on the Delhi Mumbai Industrial corridor. It is 100% Indian Engineers and Technology used here. I am proud..

May 14, 2017 04:14pm

Why China is insisting India join OBOR? Let India evaluate all aspects and consider it. BTW somehow the conversations here seems to imply all the 29 participating countries out of 65 invited, are somehow blindly accepted the OBOR and ready to roll, please control the Hubris. It is only economically unstable countries desperate for foreign investment that are after OBOR. India's foreign reserves are approaching 400 billion USD and India attracted 47 billion USD FDI in 2016. We can take our time, for world can ill afford to ignore 16% of world's population.

May 14, 2017 04:17pm

I personally stay away from anything that is Chinese (except for Chinese food). Unreliable and bad quality.

May 14, 2017 04:21pm

@Sheraz saab ... India will put up application but only for SAARC transit facilities. Good luck to Pakistan with their CPEC programme.

May 14, 2017 04:27pm

@AMARENDRA that's because those countries lack in demand and entrepreneurial spirit. Malaysia is also the same.

May 14, 2017 04:32pm

Every economy in the world wants to expand itself. This typically happens through FDI where the investors take a financial risk and are rewarded by financial returns when the projects payoff. In case of OBOR we find something very different. China is offering loans to financially struggling countries and at extreme interest rates. Long term loans are generally available for under 10% APR. Why are we being charged 17% APR and that too with guaranteed returns for Chinese banks. If some of us don't find this fishy, then it is our problem. The coal plants are great. They will produce electricity but at what cost? If our factories end up paying higher for electricity in Pakistan then do do we compete in the world especially with the Chinese companies. I tend to agree that OBOR is BY China and FOR China.
Looking at the current situation I have respect for India's position.

May 14, 2017 04:36pm

@PakPower Great that you enjoy your association. What is the per unit electricity cost to us (consumers) ? Your presence and training are useless if you cannot provide cheap electricity.

May 14, 2017 04:50pm

Hope our country has the same intellect.

May 14, 2017 04:58pm

@Raunak You just signed a defence pact with US so American military can use Indian bases. So much for sovereignty I guess.

Lone wolf
May 14, 2017 05:07pm

@influence You are right. Our fear has always been China. We know Pakistan isn't something to be afraid of.

May 14, 2017 05:08pm

@AFRIDI Best views on CPEC. But this super power may not be as easy going as the previous one.

May 14, 2017 05:09pm

@MJ Khan -- Unless you are a Chinese, the word "richest" is not appropriate herein. Success of CPEC is not yet determined but the Chinese investors will certainly make good money out of Pakistan. That is for sure!

May 14, 2017 05:34pm

Good decision.

May 14, 2017 05:35pm

@Harmony-1© Some have choice, some have no choice.

May 14, 2017 06:01pm

Chinese companies are projected to be making a 20% profit on the construction of the project plus 17% as ROI on the investment. ROI is paid for the 2-3 year construction duration also. Add to that the employment being given to Chinese laborers...This king of money can only be made in CPEC or some ponzi scheme.

May 14, 2017 06:16pm

@Kaz absolutely support Modi

parminder singh
May 14, 2017 06:24pm

@Ahamd you are very smart

May 14, 2017 06:28pm

@Sheraz From your comment it is apparent that you think China is running a Charity show for other nations to improve and prosper.How naive can you be No free lunch in today's world and that is why Trump is going America for Americans and not Chinese.

May 14, 2017 06:40pm

@Harmony-1© Some are trying to learn how to ride and some are just happy being a pillion

May 14, 2017 06:50pm

Connectivity is vital for trade. CPEC is good in context for China to push its exports to the globe and import fossil flues. There would be less domino effect on the domestic industry and growth.

Good AIIB is used for the infrastructure push however, the viability of Chinese model of Growth to push this envelope is apprehensive where it has created lea st value whoever has partnered them example, Hambantota (Srilanka) A2 Highway (Poland),16+1 (Bucharest)

Note also the Projects are not carbon neutral building big thermal power plants is least required at a time where Solar and Wind (renewable's) cost less (~2.6 rs to produce 1 unit of power).

May 14, 2017 07:01pm

India is correct , It is clear that Europe and US closing their market for other countries. The international trade is shoeing rapid decline , soon china herself inclined to his project, India is concentrating on IT, space and defense sector and these sector does not require road connectivity.

May 14, 2017 07:02pm

The New Silk Road is planned to repay all investments through the huge income generated by transit trade through the corridor. That income is estimated to be in excess of $ 75 billion annually. So, all the participating countries would easily recover their investments in the huge infrastructure projects involved, in a very short time.

May 14, 2017 07:10pm

So silk road is a Chinese trade route to send their surplus exports across the world markets these connecting lines(roads,railways etc.) are built by "Loan" money given by Chinese who will get it back anyways, built by Chinese workforce (maybe not low level jobs but they will keep high level management jobs) and with Chinese materials. I just wonder which country will benefit from this OBOR, yes China is too strong for others to stand up against but those with sense will simply attend meeting but would not exactly join these Chinese plans And those who can survive against China will simply stand out flat against China just like India,Japan,South Korea or even Vietnam.

May 14, 2017 07:51pm

With China's huge manufacturing capacities now lying seriously under-utilized, Chinese are looking for other ways to protect their economy and OBOR (and especially CPEC) is quite an innovation but its comparison with East India Company was not a bad simile at all. These guys will extend credit to Pakistan, Bangladesh, Nepal etc.for roads to be built by Chinese companies and in the process utilize their own industrial capacity and then earn interest on it and further in the process off-loading their cheap products to the same countries; import natural resources (minerals etc) from the countries. Real win-win for China!! where are the feasibility reports? At least you guys (from Pakistan) should have looked into basics of Project Financing; discuss it among yourselves; Chinese are no good for anyone except themselves. Happy that India has stayed away and in turn is focusing on Make-In-India. All the best.

May 14, 2017 08:35pm

@MJ Khan my friend, Chinese loan , Chinese workers to complete the cpec instead of local populace, and eventually the local industry will collapsed by cheap Chinese goods. How Pakistan will benefit from this, it is true that Pakistan will get best of Infrastructure but how will you benefit from this if your local industry won't survives, think rationa

Anurag Gautam
May 14, 2017 08:42pm

@Raheel sensible and unbiased thinking

May 14, 2017 08:51pm

@Harmony-1© India does not need China. We want India to grow on its own. India is not sulking it is taking a stand to tell the world that billion people of India can do on their own. It may take time but we will shine. I know how much you hate India but from us good luck to Pakistan.

May 14, 2017 08:58pm

@Raheel You have been refreshingly candid and unbiased and I appreciate that. Only when people raise uncomfortable questions truth will be out. Wish that your tribe increases and you are safe. Good luck.

May 14, 2017 09:02pm

I have said so in my previous comment what GOI is also saying.Jingoism aside what GOI is saying is not wrong.Current live example is African nations,Sri Lanka and Myanmar.Soon Pakistan and other OBOR participants as well.

Besides China too itself will in big trouble in years ahead as estimate says OBOR require $5 Trillion (Half of China's Nominal GDP) in 5 years but Beijing is pledging only $124 Billion.South China Morning Post (SCMP) media warned and asked some critical questions and that is where will rest amount will come from and what if the project becomes utter failure??

The SCMP warned the lion share of such burden of loss will fall on Chinese Ex chequers along with participating nations.So i think it can be devastating for those who ignore India's warning even if someone hate or dislike India.

May 14, 2017 09:21pm

First guys get your facts correct . Chinese will build the infra and the respective countries where this development will take place will have to pay it. Now Chi nks have this policy they will not accept any services as loan payment . They seek either the resources or Dollars with respective interest. Now how come small countries will pay then there is security issue related to that. In short this is a project for Chinese colonisation.

May 14, 2017 09:31pm

@Kaz Agree with you

May 14, 2017 10:33pm

nice article

May 14, 2017 10:49pm

@lafanga Our pact with US is to protect us from nefarious actions of our esteemed neighbor who has a lot of time on hand, with no jobs and education - so they have time to constantly meddle in our business. While you have been bowing to US for the money for yours- did you ask why then don't worry about us our success is our best revenge

May 14, 2017 10:49pm

Combined GDP of countries except China taking part in BRI=8.7 trillion dollar ppp GDP of India=9.3 trillion dollar ppp Peace

May 14, 2017 11:46pm

@Ob we have self confidence to grow stronger n stronger, so we have rejected the invitation. Not like others

May 14, 2017 11:50pm

@Saif zulfiqar we wont stop our neighbors, they r free to take ther own decisions when it comes to ther national interest. It will not hurt us if they join or not, end of the day, thu need to pay the repayment

May 15, 2017 12:01am

I don't see any advantage to India, rather a serious issue of violating territorial integrity of India.

It is, however, of immense profit to China - it gets 128% returns regardless it succeeds or not, with working projects to it's companies in faltering economic situation being the icing and jobs for its unskilled people the cherry.

Too bad pakistan won't get to eat this yummy cake!

May 15, 2017 12:05am

Even Bangladesh refused Chinese loan for their electric plants. India gives out loan at less than 2% interest. China at 8%

Dr. Ramesh K. Sharma
May 15, 2017 12:10am

@Saif zulfiqar They are independent countries with independent policies. They don't depend on other countries for survival who are willing to even offer part of their country.

Dr. Ramesh K. Sharma
May 15, 2017 12:11am

@iab Good luck sir. Enjoy the joyride.

May 15, 2017 12:12am

@Houlbelat Do you have proper calculation?

May 15, 2017 12:18am

Silk road is nothing but paying rent to your own house built on your land. The builders are chinese, materials are from china, consultants, Architects and skilled workers from China. Just because these guys dont have job they are coming to other countries to work.

May 15, 2017 12:20am

@Ahamd I To be fair Chinese can not be blamed for using their own skilled labour particularly when the money is coming from China. Repayments over a relatively long period of time should be sustainable. Chinese can not fool the whole world...they are providing opportunities of partnership and economic development. If for some reason participating countries are not able to pay debt in time it is unlikely that the Chinese would dismantle infrastructures from these countries.

India's real concern relates to Pakistan development, Pak- China partnership, Chinese maritime force in Gwadar and inability to compete with Chinese economy. It will be interesting to see whether India's growth rate carries on at current rate or whether its current rate is actually ahead of what it should be and will recede after a while as a in case of China!

Gulfam Nawaz
May 15, 2017 12:23am

@raj kumar we are the 4th largest pen manufacturers on earth FYI sir.

Gulfam Nawaz
May 15, 2017 12:24am

@Harmony-1© Every country will put itself first. nothing wrong with India having INDIA FIRST policy just as China has a CHINA FIRST policy and PAKISTAN has a pak first policy. Thats just basic good principles.

Gulfam Nawaz
May 15, 2017 12:25am

@wise time will tell....

Gulfam Nawaz
May 15, 2017 12:26am

@influence Good for India. CPEC is good for Pakistan Live and let live.

Gulfam Nawaz
May 15, 2017 12:29am

@fas Underwater tunnel from Delhi to New York is under consideration. However, there is a problem as it crosses under the Mexican wall under construction.

Gulfam Nawaz
May 15, 2017 12:30am

@Saif zulfiqar Is Afganistan attending? with their economic power, it they dont attend then the project is doomed.

May 15, 2017 12:37am


Despite being a private plant owned by a Chinese consortium, the purchase price per kwh is around 9 Rs. which is lower than Pakistan's average of 13.5 Rs. I hope this is cheap enough for you.

May 15, 2017 12:40am


100% Indian technology used? Since when did India start manufacturing heavy construction equipment? Lol.

Gulfam Nawaz
May 15, 2017 12:45am

@NARADA MUNI well done. Should be ready in about 150 years!!!

mad mamluk
May 15, 2017 12:52am

hahah indians need a lesson or two in economic theory clearly.

May 15, 2017 12:55am

Indians spreading confusion about cpec will harm the potential of earning from obor.

May 15, 2017 01:09am

Infrastructure is a necessary condition for the development of a country, there is no good power, transportation system, policy concessions, it will be difficult to attract investment. Of course, there is a very, very important premise, that is, the Government has a long-term strategic vision, this is very important. A lot of people are still very curious why China will develop so well? One of the most important reasons, they will be for a goal with a few years, decades or even generations to achieve. This is difficult to imagine in other countries, the reason is simple, the leadership of a change, national policy is often followed to change.

May 15, 2017 01:16am

Indian communists may join in CPEC!

d Patel
May 15, 2017 01:23am

Since first day of becoming free country, India has always been careful about keeping economic independence. Long time ruling Congress government also did not sign economic alliance even after PM Manmohan singh was given royal treatment in white house by president Obama. While Pakistan has potential for economic support from middle Eastern countries, India has no choice but to remain vigilant about coming under economic control from outside.

M Jamal
May 15, 2017 01:33am

@Kaz China has developed at the speed of 100 km per annum in comparison to India strolling at 20 km per hour.At this speed India will take at least another 100 years to reach the present status where China stand now.Have pity on 90% Indians to share the fruit of prosperity instead of holding the flag of self reliance.Europe ,Japan,South East Asia,South America and even China have developed and prosper from foreign investment specially from USA.Now this country of foreign investment is China.Please try to live in reality.

M Jamal
May 15, 2017 01:41am

To all those who consider self esteem is very important but what is your views when your farmers are committing suicide due to hunger and claim from the money lenders in every part of India.

Guess what
May 15, 2017 01:44am

@lafanga "You just signed a defence pact with US so American military can use Indian bases. So much for sovereignty I guess."

You forgot to add that LEMOA only allows Indian bases to US for fueling not like Pakistani basis from which drones could fly and kill Pakistanis. Also in return American bases in Philippines and JapAn are also available to India for fueling

So yes, the kind of agreement India has signed is exactly what you would expect a sovereign country to sign

May 15, 2017 01:46am

China wants India to be part of this project , as they know it would be a successful project if India joins.The recent comment by Chinese ambassador to India reflects this. However India does not trust China unless they change their strategy towards India. I dont say this project will be a complete failure but it would be successful if India joins,as India is one of the Strongest and growing economies!

May 15, 2017 01:49am

@PrincessofDHUMP And sadlt you arent even qualified to comment on political parties as your democracy is still finding roots and not mattie enough to think in long vision. Btw CPEc is not long's a debt trap with some short term GDP growth. When repayment commences all curtains will come down...

May 15, 2017 01:51am

@Ob and if you rewind 10 days back india just launched a south asia satellite which will be.much helpful than the 1 lane roads and buildings the chinese are going to construct with their own labourers.

May 15, 2017 01:54am

The fact of the matter is pakistan has realized it cannot stand against india alone and so it is looking for help. Pakistan doesnt even have any company that is recognized by the world.

May 15, 2017 01:58am

On debt issue India is right

May 15, 2017 02:18am

what can china do if Pakistan cannot pay? They cannot relocate the roads. It only benefits paksitan

May 15, 2017 02:27am

Right now odds are against India 10:1. But in a derby the horse with the least odds can come up as the winner. I feel this will be case. In the end India will be sitting on piles of cash it saved by not joining OBOR. Other nations will be licking their wounds.

May 15, 2017 02:34am

@Dr Ahmad - Melbourne how it's sour they invited us we didn't go not that they didn't invite usabd thats reasons india is not saying this india says whoever wants to join they are free to join.There is no sour grapes.Remember china is very smart the entire project will benefit mostly Chinese.

Taimoor khan
May 15, 2017 02:36am

Those who are part of new world order are participating, those who enjoyed front seat in old world order are sulking.

May 15, 2017 02:36am

Nothing is free. Watch out.

May 15, 2017 02:48am

Which countries attended? Some countries like Fiji attended when they will not be able contribute any resources in this project. Could it be possible that he was there to be in good books of the Chinese or seeking loans from them or they saw this opportunity to sell Fiji to be the Chair person in the future for the Climate. change. I understand that Ms. Khan is also building a position for the Chair person as well.

May 15, 2017 02:54am

Cpec is good for region connectivity but the balance of trade should be maintained. Chinese factories can quickly flood markets with low cost Chinese goods and put local manufacturers and industry out of business

May 15, 2017 03:37am

India raised some serious issues with such project. Not all the countries will be like Pakistan who will accept most of the clauses without conveying its impacts on the nation.

May 15, 2017 04:01am

India is waiting for a corridor that will go from India to USA? LOL

Humor heart humanity
May 15, 2017 04:02am

Looks like India in isolation by not attending OBOR The Russia,Britain,and all other 26 nations expressed appreciations and interests.

Ostrich Head In Hole.
May 15, 2017 04:10am

"He also warned of the danger of debt. One of the criticisms of the Silk Road plan is that host countries may struggle to pay back loans for huge infrastructure projects being carried out and funded by Chinese companies and banks".

How many countries has India served free of cost? Was creation of Bangladesh free of cost? Or for that matter is India serving Afghanistan free of cost? Or countries serving India are doing it free of cost?

Mr. India there is no such thing as free lunch, every deal has its own price! Did not India invite Pakistan to join the project with Iran?

sanjeeb chakravarty
May 15, 2017 04:32am

@iab R U A Chinese citizen ??

May 15, 2017 04:34am

@Saif zulfiqar CPEC is not passing through Nepal, Bhutan or Bangladesh. So they wont have any issue with this project.

Vikas rehman
May 15, 2017 04:43am

May be India should consider starting her own alternative to OBOR and include Pakistan? Or may be they do not have one!

As for CPEC, sure Pakistan should tread the path carefully. But do they naysayers have a viable alternative to Chinese loans/investment for the power projects and infrastructure development. China as 'the investor' has a major say in who takes the major work share. My understanding is that only 4% actually pay any tax in Pakistan. The rest, who should but do not, which is the majority should be ashamed of even uttering a word about it.

May 15, 2017 04:58am

He has become an Economic expert as well.

May 15, 2017 05:00am

Yellows have met their match in India. I don't think India will pay a single penny to these thieves.

Akil Akhtar
May 15, 2017 05:12am

India is not interested in cooperation and peace in the region since it is being given a role to oppose china in the region by US....

May 15, 2017 05:15am

After the construction of ghost cities communist are desperate to build infra projects with no potential takers. Modi will ensure the OBOR is a disaster, with zero revenue from India.

May 15, 2017 05:49am

Indians commenting here are proud that they are not depending on china or anyone. Yet they cry when their h1b visas are thrashed. Btw they say Chinese goods are cheap, they should know that the whole Indian IT industry does menial no brainier work for West and that too poorly.

May 15, 2017 06:02am

@lafanga The project will eventually lead to huge financial dependence on China. Pakistan can handle that because you guys have been dealing with China since decades now. India has always been wary of China after the 1962 loss. Territorial sovereignty is also a valid point but that's secondary. The main point is that India doesnt want to become a subservient slave to China at the cost of prosperity. I am sure that if the OBOR was led by Russia or USA or Saudi Arabia, India wouldn't have kicked up a row

May 15, 2017 06:21am

Can any one please explain why India need to be part of OBOR or CPEC now ?

Does India need port like Gwadar ? India has dozens of port like Gwadar on eastern side & western side .

Does India need Chinese loan for thermal power plant ? India is already energy surplus & their own companies like L&T , BHEL has capacity to build plant at the same cost that of Chinese company .

None of the biggest trading partner of India are present in land locked central asian region .

Then why India need CPEC ? China need India's participation so that it can dump Chinese product in India's market . Why should India oblige to it ?

May 15, 2017 06:28am

@Chqudhary And It is self-financed. No bank payments to Chinese banks.

May 15, 2017 06:35am

Many fail to see the larger picture. China has an aging population and the only way to sustain the economic growth is to make people of other countries work in their manufacturing hubs and China reaping the profit. Sri Lanka is already in a debt trap of $8 billion for the Hambantota port which is now a white elephant. SL has to now dance to the tune of China with no options. Basically, China is buying these ports and cities. India is doing the right thing here. Time will prove India's stand.

May 15, 2017 06:39am

Wiley China wants other countries to create transit facilities for herself at their own cost; and for this is giving loans generously. Only the naive nations will fall in to this trap.

May 15, 2017 06:41am

@lafanga Well if you understood, they are not mutually exclusive conditions.

Ask King
May 15, 2017 06:43am

Baniyas don't make mistake in investments. Think !

May 15, 2017 06:45am

Whatever the comments ridiculing India for its stand! But I firmly support and appreciate the stand of India for not bogging down in front of fat Chinese purse like other countries are kneeling down for a piece of meat!. Great powers cannot depend on others but are always independent and we have guts to tell that and practice that openly. Chinese are never friends when it comes to economic matters!!!!

May 15, 2017 06:45am

CPEC Is East india company version 2.0 , watchout !

May 15, 2017 06:47am

@Skeptic Ok India never said India is way ahead of China in any parameter. But one question , why China is keep asking for India's participation despite India saying NO . 2 weeks ago India's foreign minister said NO to CPEC at ADB submit on Tokyo. Still China is asking India ?

May 15, 2017 06:52am

This project is huge and will benefit many nations. After the completion of this project, China will lead in exports and India will lose business for sure. Anything that will go in favour of Pakistan will be worrisome for India.

May 15, 2017 06:57am

Mr. Modi will do 100% what his people will think, I never saw this kind of leader in INDIA............

n d gAUR
May 15, 2017 07:09am

The "silk road" might very well become the "silk rope"round the neck of the unfortunate countries that have chosen to participate in it. Either they will dance at each tug of the rope held by their Chinese "friends" or they will strangulate themselves.

May 15, 2017 07:25am

@AFRIDI Awesome

May 15, 2017 07:29am

@PakPower I am sure the percentage of Pakistani engineers will go up in future as the project enters maintenance stage. Secondly China is a aging country and Pakistan will provide demographic advantage. India is competing with China and is not looking for loans or Chinese investment. Obor through indian land will make India give away it's maritime advantage on a platter. There is clear unanimity among political and strategic circles on not joining the project.

SK Jha
May 15, 2017 07:33am

No need for India to become part of the project. It can trade with most of the world through sea route which is economical .If Pakistan is getting some royalty from China to use its land and sea port only then it is useful for her.

May 15, 2017 07:41am

@Kaz Every market of India and Pakistan are full of Chinese goods and even other countries also.India will realise it latter on No single country is standing on its feet. It has depend on other countries for raw materials and marketing.

May 15, 2017 07:49am

China may have the money but not the charm or the soft power to dominate the world. You don't demand superstardom. You become it! NO ONE trusts China's intentions. They have never been an open culture through their history. India may have tons of issues but it takes people with it. Not like some impatient dragon using a concept as a financial Trojan to economically enslave others. We have very sound economics, neighbours. If you like having superior infrastructure at the cost of soverignity, go right ahead. We aren't fools to see where this is headed. Besides, we don't trust China one bit, OBOR or not. So the question of joining some dubious framework does not arise. We are 1.25 Bn strong. With enough internal demand to sustain a 7 percent growth for the next 20 years. With enough young manpower to satiate it. China knows it and it can do nothing about it because it is ageing. So before you guys indulge in rhetoric, please brush up on economics 101.

May 15, 2017 07:52am

Mauritius, one of India's closest partners in the Indian Ocean region could become a hub for petroleum storage and bunkering for which India has started building infrastructure. India already supplies petroleum products to Mauritius from Mangalore refineries as well as being a retail player in that country. As a petroleum hub, Mauritius' can secure its own energy supplies, while India can use it to market in other parts of Africa.

May 15, 2017 07:52am

On the other side of the Indian Ocean, India and Indonesia are beginning an energy relationship -- Indonesia is one of the world's bigger sources of hydrocarbons and has been in and out of OPEC. But after power minister Piyush Goyal restarted an energy dialogue with Indonesia in April, India is working on a new project -- to build floating storage and regasification units (FSRU) for Indonesia to help it supply energy to the thousands of islands in the country. In return, India is asking Indonesia to supply LNG kits for Indian transport vehicles

May 15, 2017 08:00am

China will anytime support india to join on its own interest. Current India does not need politically economically ideologically. no need to be panic. Indians need to encourage route through chabbar as its dream.. Let us work on our dream first and then joining others. We can use China route reach Asia.

May 15, 2017 08:10am

@Sheraz I agree.India should have stopped at sovereignty issue only without debt issue.

May 15, 2017 08:15am

@MJ Khan I remember a radio Pakistan news item way back in 80s saying that South Korea had promised to invest in Pakistan. But instead, it has invested a lot more in India. India is a major base for manufacturing Hyundai Cars. To his credit, NS is good and can take Pakistan ahead. His Motorway projects are impressive. However, how far he can go with Military constantly on his back? The CPEC despite its name is anything but economic. It is just China getting a corridor and military footprint on South Asia.

May 15, 2017 08:38am


"Since when did India start manufacturing heavy construction equipment? Lol."

It's comments like these that show how half-informed you people are. Please Google "Larsen & Toubro"... it's an Indian company.

Vivek Wani
May 15, 2017 08:45am

I support my PM.

Waqas Mahmood
May 15, 2017 08:50am

Salute to those who think china will bring cement, concrete, steel and other building materials from china.

May 15, 2017 08:59am

India's loss. What happened to we want to move ahead...but Pakistan will be left behing.

May 15, 2017 09:21am

@lafanga Whatever infrastructure India has, its own not planned and executed by other country.

Anil Kumar
May 15, 2017 09:26am

India is neither nervous or is a principled stand taken by our Govt to stay away because China has its compulsions to keep the large capacities it has build to save its economy. Though most of the countries have attended but how much they will benefit is the moot question. As far Pakistan, it has no choice other then toe the Chinese line and help. We in India are more confident of our PM and his policies to take India on the Juggernaut with self respect. If tomorrow India decides to block Chinese goods..China will shudder..though lately we have started shunning Chinese cheap products for Made in India products which are 100 times better than the Chinese.

Abhishek Kakarlapudi
May 15, 2017 09:28am

As Indian ... I can only laugh at our govt's concern about unsustainable loans and repayment capacity of our neighbor ...... I see that concern totally unfounded because our neighbor will never pay back the loan....of course, india should have issued an advisory warning to china on its ability to recover debts ... lol

Bin Adam
May 15, 2017 09:31am

Those having the authority to get such enormous amount of loans during their turn by turn and successive govts, having already pawned down the entire nation up to neck, are least concerned how this mounting amount of loans will be paid back. Their main goal is to earn kick backs as much as possible during their term of govts and keep on multiplying their off-shore and on- shore foreign bank balance, business and real estate empires. What should be the priority of any sincere Govts? First providing water, power and other basic necessities of life to their deprived people or building fancy road ways and other such infra structures by ignoring the plight of people crying and protesting for water, power and necessities of bare survival?

May 15, 2017 09:35am

@mad mamluk - "hahah indians need a lesson or two in economic theory clearly."

Please quote your sources.

May 15, 2017 09:43am

Pakistan will understand what China is doing in next 3 to 4 years

May 15, 2017 09:50am

Pakistan has never paid the loan amount + Interest to any country from where the loan taken. There is no worry for Pakistan to repay.

umesh gupta
May 15, 2017 09:51am

Let India Pakistan first have good internal connectivity before talking about so called OBOR. To understand China better read Art of War.

J. Anwar
May 15, 2017 09:54am

@Harmony-1© : More accurately, India does NOT need the CPEC. Have you read in NYT, the Laos tragedy in the rail requiring bulldozing and digging train thru the mountains --and the Laotians can[t hope to any for it?Farmers were promised $10 an for 100 acres and --NO compensation yet! No try the Rakhine region of Myanar-- UPROOTED Farmers are pushed out willy nilly and NOT paid even a fraction of what was promised. But the the One Belt,One Road marched on!

Mustafa R.
May 15, 2017 09:56am

Good riddance. Good for Asia.

J. Anwar
May 15, 2017 09:57am

@Ahamd : The loans are given under China government guarantee by banks. But what if the banks can't pay the state? China is using its surplus production of cement and steel bot keep that industry going with Chinese labour OF Course. Are there environmental standards? Who cares is the Chinese answer!

J. Anwar
May 15, 2017 10:04am

@PrincessofDHUMP : For all of todays and future OBOR projects, they will go one for a long time. Then we'll see !

J. Anwar
May 15, 2017 10:06am

@lost cause :You think your delivery drivers and roadside cafes and road tolls will earn revenue to make payments?If so: Good fore you!

May 15, 2017 10:20am

All that Pakistan needs to do is to give amnesty to the hoarders in foreign currency accounts, collect their back taxes without penalty but with interest and deploy that amount in their infra development. Pakistan can get 25 - 30% of its infra cost as tax. They can further incentivize their own non-residents and expats to invest in infra and give them good returns like LIBOR plus some percentage. If there is shortfall they can get loans and assistance from World Bank etc.

Will that not be more beneficial for Pakistan than paying 17% assured return to China plus costs etc. of 7-8%, all for getting investments of approx $ 1.5 billion per annum ?

May 15, 2017 10:27am

There was a time in India, where Individual money lender were lending their money to poor people by taking borrower Land Doc as security. Its not because they wanted to help them but they were just interested in their land and they knew, the borrower can't refund it and atlast they get that land . Now what actually China is doing with Srilanka, Cambodia, Zimbawe, Pakistan, Myanmar, Bangladesh ... Bhailog go on .. we don't need ur money.. we are getting enough FDI and investor with lower interest and extended repayment period with clarity on Loan Terms and condition ..

May 15, 2017 10:30am

Isolating itself on the name of sovereignty.

May 15, 2017 10:51am

@MJ Khan This will take at least 30 years to complete. Pakistan can only earn if they have things to sell cheaper than so many other countries. Do Pakistan has plans in place what they want to sale, and also who are the competitors and how to beat them. India sale products to North America, Europe and Africa. None of the countries are part of OBOR. How will India be affected by this.

May 15, 2017 10:53am

@AFRIDI really funny.

May 15, 2017 10:54am

@PakPower Thanks. Compare this to Pakistani Rs. 7 Kw/hr. Do you think it is enough to be competitive assuming all other factors remain constant.

May 15, 2017 11:32am

Your comment is appreciable.

May 15, 2017 11:33am

@lafanga Everyone should be happy on the success of CPEC. With Globalisation and increase in Chinese influence, fanatics of Pakistan will get marginalised. Nothing can be better for this part of the world than that.

May 15, 2017 11:40am

As one European observed in an article that " in the next decade the initiative will instead be remembered as "One Belt, One Trap". Time will tell.

May 15, 2017 11:43am

You are right. e.g. Cryogenic Engine.World stopped selling the same to INDIA. We made it our own and became master of it & rest story is known to entire world.

May 15, 2017 11:51am

@MJ Khan it is a win for china not for Pakistan. They built the infrastructure and that means all the money China had invested had gone back to China. What is left Pakistan is debt!!!! Wake up

May 15, 2017 11:58am

China is all export oriented economy. So it's all about devising new roads for faster exports from China. So take money from Chinese banks, pay them to Chinese workers, let Chinese companies be installed in your country, provide tax reliefs to these Chinese companies and pay the original loan with interest.

May 15, 2017 12:00pm

I fail to understand why the Chinese and Pakistanis are hell bent on emphasizing the benefits of CPEC and OBOR to India.

India being a sovereign country has the right to not participate in projects it does not want to be part of.

Whether these projects are a boon or a disaster for India is India's prerogative to decide and act on.

Why are the Chinese and Pakistanis wanting to push India into these projects???

May 15, 2017 12:03pm

@Saif zulfiqar Bhutan did not attend. It does not have even have a diplomatic mission with China, Saif saab.

May 15, 2017 12:08pm

@Harmony-1© India is building its own corridor connecting Russia, Europe, and rest of thee countries on the way. China is buildiing east west corridor. india is building International north-south transport corridor. Their is no point of sulking or no comparison in the role between India and Pakistan. An employee can't compare itself with the CEO of the same or a different company.

May 15, 2017 12:10pm

china investing in indian tech companies to use as a R & D hub. so if chinese doesnt many countries are interested. so dont worry about indias debt problem. it has record foreign currency reserve.

May 15, 2017 12:22pm

@Sheraz We are not confused , just not interested .

May 15, 2017 12:25pm

CPEC is strategic, there are lot of Energy projects and other projects which are not exclusively benefiting China, CPEC is win for China and Pakistan both, even if it benefit 70% to China and 30% to Pakistan this is acceptable, Pakistan needs strong strategic partner in the region and China is the one for us... Clearly India strategic partner is not China nor it ever will be due to both nation size, border conflicts and fight for regional supremacy.

May 15, 2017 12:26pm

@MJ Khan So how it is going to help Pak?

May 15, 2017 12:47pm

@MJ Khan win-win for china loss-loss fir other countries. China giving loan by one hand, taking back by another by ensuring the projects executed by chinese cos. what remains is just debt for next 40 years to country like PAK. The roads will be used by china for their purpose then why Pak is building it and putting next 3 generations in debt?

May 15, 2017 12:48pm

@Wonderful ..very true..for CPEC , Pak is paying 18% assured return on Chinese investment...whereas India paying 0.01% long term interest on Hindreds of Billion Dollar Japan is providing for bullet trains..we are fortunate to have Modi.

May 15, 2017 01:24pm

India does not need Chinese silk road. Most of India's export and imports are happening through sea route, which is much cheaper than road. It may be helpful to those who does not own their own ports. But it will be an white elephant in terms of loan repayment. At the end, only china is going to export their goods to other countries and earn from loan repayment.

Well Meaning
May 15, 2017 01:28pm

@lafanga you are forgetting we can use > 100 of their (US) worldwide bases , so much for equality . please check facts .

human being
May 15, 2017 01:35pm

@Temur India has realised it and it starting to make on its own and will see its results in future.

May 15, 2017 01:49pm

@MJ Khan And what are u exporting worth $ 100 billion ADDITIONAL from now to repay the loan? Or you mean your economic will grow 25% per year( to have $100 BN reserve in next 20 years)to achieve the target of $100 Billion. check the ground reports.

May 15, 2017 02:43pm

And media was speculating if India was under pressure to join this summit. Well played Modi sir.

May 15, 2017 02:47pm

@Mona - "I know how much you hate India but.."

Really? How much do you know me, Ms know it all?

Being judgemental, in a typical desi-ishtyle :)

May 15, 2017 02:48pm

@NEUTRAL INDIAN - To be honest not participating in satellite sharing is not just "due to strategic concerns". Quite genuine really.

I did give example of Modi threatening to turn off the water tap and we all know about cricket - not to mention refusal of any dialogue. The satellite sharing would have met the same fate.

Yes, a tongue-in-cheek "trivialising" it may have been (where pun was intended :) ) but there is criticism going on in India too of Modi not joining OBOR.

May 15, 2017 02:49pm

@VINEETH - "But due to the Gilgit-Baltistan route of CPEC, it was a no go."

Who has control over it?

At least we are building it through CPEC to benefit its people, unlike the part where your state is suppressing and killing its people! See the difference?

Waqas Mahmood
May 15, 2017 02:53pm

Indians are clearly not interested in CPEC and OBOR. As evident from tons of Indian comments at Pakistani CPEC news.

May 15, 2017 03:18pm

@lafanga hilarious. India right now has better infra than CPEC. what are u talking about. improve your knowledge. each year india get 60 billion $ FDI....

British muslim
May 15, 2017 03:25pm

@lafanga India has enough fund to build infrastructure as the made east west north south corridor long time back. they are making 300 km roads every day on a daily basis by their own funded by Indian Govt. And for your information its the second largest economy in Asia and the fourth largest in the world. So India will not do anything which benefits only china unlike Pakistan.

Sumit Raizada
May 15, 2017 03:45pm

Investment and taking loans are two different things. Even a middle class family finds it difficult to repay loans on house education car etc. So think of Pakistan as a whole. Will China write off loans in any worst case? A Pakistani bank would seize property of a Pakistani if he/she is unable to repay it's loan. Think they are not even Pakistani so what would they acquire if loans are not repaid?

May 15, 2017 04:04pm

India has a valid point about loan, interest repayment. Besides one should also agree that the entire China has taken just to benefit their Industries and not for charity. Every country will evaluate it as per their interest and if they find beneficial for them as well will give their accord.

pakistani too
May 15, 2017 04:12pm

India to take 75 billion from sheikh of UAE for infrastructure is perfectly alright, but Pakistan takes 60 billion from China for high-yielding infrastructure projects such as Powerplant, road connectivity, tourism and banking to increase employment through agriculture, manufacturing, logistic and minerals is not alright, that is a sign of very good nationhood.

May 15, 2017 04:25pm

@pakistani too Gentlemen taking loan is not bad but interest rate u must follow. india getting loan from japan for bullet train 16B $ at 0.01% interest rate. Pakistan getting loan for CPEC from china 55B$ at 18% interest rate. loan should not have interest rate more than 4%. Pakistan could have raised bond in internation market to finance CPEC. why loan from china @18%. simple school going children can understand this big gamble Pakistan has done. god bless our next generation paying this loans.

May 15, 2017 04:31pm

@pakistani too - "India to take 75 billion from sheikh of UAE for infrastructure is perfectly alright, but Pakistan takes 60 billion from China..."

Search for the difference in T&C. How many local jobs will be created in both? What will happen to the local industries? How is the money going to get recovered and paid back?

N Gujaranwala
May 15, 2017 04:36pm

Dear Pakistan - Pls beware of chinky eyed people.They are not Americans who are large hearted and can waive billion of dollars if they feel so. But never Chinese.

pakistani too
May 15, 2017 04:45pm

@nISK fact of the matter is promises do not fulfil people's needs, the ground reality is India has Close to trillion dollars of loans due to its accessive defence equipment deals, mismanagement and corruption.

May 15, 2017 04:50pm

@AFRIDI well said

pakistani too
May 15, 2017 04:51pm

@raja Yeh well done Mr Modi, don't generate employment, don't create opportunities for your people, your people are starving, sleeping on streets and the highest rate of poverty in the world, according to United nations.

May 15, 2017 05:02pm

Real reason India not interested is they know that the transit fees charged and indeed the trade volume will not be enough to sustain any repayment of debt for them. The transit fees for Pakistan and volume of trade for them would.

pakistani too
May 15, 2017 05:04pm

@N Gujaranwala its time for Indian to find out how good Americans really are? The problem is Pakistan has less than $100 billion in loans but Indians have reached one trillion mark already, people of India will be paying higher taxes in not so distanced future for decades to come, and Mr Modi is not going to tell you.

pakistani too
May 15, 2017 05:36pm

@INDIAN if your country was a fox it would take care of it's Nabors, like China does, win win situation. Every country in South Asia including Pakistan, Srilanka, Nepal and even Bangladesh have major issues with you.

May 15, 2017 05:56pm

If India is 'not important', why has China, and Pakistan to some extent, been courting India to join OBOR?

May 15, 2017 05:58pm

@pakistani too What is the source of this information? USD 1 Tillion of loan! don't you think you have quoted an unbelievably outrageous sum

May 15, 2017 06:06pm

Pakistan should bear in mind that in case things go sour at some point and not as anticipated by China"Friends make the worst enemies"

May 15, 2017 06:12pm

Dear Pakistani friends - Please list down 5 benefits that it would accrue because of the CPEC. And how would it make Pakistan and its citizens rich. Forgive me for my lack of understanding on the subject.

pakistani too
May 15, 2017 06:25pm

@Sameer you got the wrong impression, they are on our portal criticising our project and we have the right to defend it and create awareness to our people.

May 15, 2017 06:27pm

India is dead-wrong. They just want to avoid Chinese influence, while Pakistan has a lot to make from this. The debt is not unsustainable. Pakistani bonds are strong in international markets. Even then, most of the debt is at 1.5% interest. You can't ask for anything better than that.

pakistani too
May 15, 2017 06:42pm

@John you are just like your country "Confused" fact is China is light years ahead of India search that.

May 15, 2017 06:48pm

@Harmony-1© Did you read about the state of the art tunnel built in Kashmir. Go ahead. Read up on it.

May 15, 2017 06:54pm

@Tom Thats true, regardless whether India join it or not. INTEREST RATE is KEY FACTOR which politicians are not highlighting while experts have concerns that its high as compare to current practices. At the end, it may become burden in case of failure or unexpected results. Now, Financial or Economic experts should come forward to educate the politicians.

thinking indian
May 15, 2017 07:09pm

To all my Indian and Pakistani bros commenting here... One little observation: Not even a SINGLE chinese is commenting on this, but just Indians and Pakistanis. What does this indicate?

May 15, 2017 07:22pm

@MJ Khan You call that win-win?! :D :D :D

May 15, 2017 07:54pm

@SaMeer dont be foolish brother

May 15, 2017 08:01pm

After reading Indian comments showing so much concern and suddenly becoming our well wishers and friends, advising Pakistan against CPEC is a glaring proof that it is good and win-win for Pakistan!!!

May 15, 2017 08:02pm

Sri Lanka and Venezuela used the loans irresponsibly - hence ended up in a debt trap.

Pakistan has responsible leaders with very good grasp on business viability - they will make sure that Pakistan will make far more money from these loans than the interest that needs to be paid to China.

Hafeez, Canada
May 15, 2017 08:07pm

India is now being isolated.

May 15, 2017 08:19pm

I am no subject matter expert so I will not comment on feasibility of CPEC or OBOR. However, in my view even if we take out the sovereignty and sustainability angles, the OBOR does not make much sense for India. the economic model of China and India are different and hence the stretegy to achieve the end results would also be different. India itself is a huge market and if we are able to provide world class goods to our own population along with alleviation of poverty we will reach to our goals. Best luck to all those joining OBOR.

May 15, 2017 08:29pm

@Thinking Indian - How many Chinese comment on your news websites or on NYT, BBC etc, for that matter? They are not in the habit of getting at each others throats as we do :)

May 15, 2017 08:40pm

Guys who are all welcoming OBOR first read this and come to a conclusion.

May 15, 2017 08:50pm

@Sheraz Did you hear about Hambantota port and Mattala airport ? If not, just google and check. That should clear all your doubts

May 15, 2017 08:51pm

India talking about unsustainable debt!?!? Wow!!! This is the country whose banks are so highly leveraged that the government of India had to demonetize its paper currency to bolster bank reserves.

Pakistan is being turned into a subsidiary of China, and India is being turned into a subsidiary of the West, whereas China is providing the capital as loans to Pakistan so that Pakistan can buy Chinese , Indian banks are providing the loans to Indians so that they can buy Western, you tell me who is more clever?

May 15, 2017 09:03pm

@Harmony-1© Why dont you comment on this?

Hasan Siftain
May 15, 2017 09:05pm

Our eastern neighbor has been isolated. Bravo china

Inam ali essex
May 15, 2017 09:05pm

India is just jealous,

May 15, 2017 09:53pm

@Qamar Rathore How do you say that CPEC will give Pakistan better infrastructure than India? Do you know India's infrastructure?

May 15, 2017 09:55pm

@Someone - Why? Why not here?

May 15, 2017 10:18pm

@Hasan Siftain By the way its a 30 years plan..Nothing will change for this generation.

May 15, 2017 10:32pm

@John my friend there is a big difference between loan and investment. UAE is investing in India , hence, it ain't a loan

May 15, 2017 10:36pm

india's sagarmala project is 120billion us$ mumbai delhi economic corridor 90$ billion etc ect

so why should india bother about pakistan?

May 15, 2017 11:49pm

India's terrible bureaucracy and perpetually fighting politicians will not permit any positive initiative but they will also refrain from any drastic moves. It is a do nothing society.

Amanat Ali
May 16, 2017 12:22am

How someone can compare Sri Lanka with Pakistan?

May 16, 2017 01:17am

@Najeeb Ahmad Well, let time speak as who is wise. Human brain sometimes cannot overcome the affection of greed. By the why you think China is so much interested to invest in infrastructure of neighboring countries? Is it her own interest or those countries interest?

May 16, 2017 01:24am

@Dr Ahmad - Melbourne Lets see if they really end up being grapes.

May 16, 2017 01:48am

@MJ Khan OK let me try to understand this. Chinese state bank (or whichever equivalent) loans Parkistani government to have the roads constructed by Chinese state companies. Net flow of Chinese money out of China is negligible that will pretty much be offset by Parkistani government's interest payments over a period of time. So who is the winner again?

May 16, 2017 01:54am

Indian Pakistan policy has always been based on rivalry. They mostly pursued it with bullying. How could they consider Pakistan to be their sphere of influence.

May 16, 2017 02:12am

There is no such thing as free lunch. Pakistan is signing on for life long slavery. Chinese are no fools. Revival of East India Company, now called CPEC and OBOR. The Chinese have learned well from colonial past of British, French and Dutch. They think, this will be Chinese century as Europe and USA are looking inward. Let the games play, we will watch the fun.

nasir ali
May 16, 2017 02:30am


May 16, 2017 05:19am

Are we surprised! Debt burden, most investments require debt, but he rewards will exceed in time. It is called forward thinking and thinking out of the box....Mr Modhi!

May 16, 2017 06:25am

China is exhausted as largest contributor of GDP. Have built ghost cities and railways to keep the GDP pace and jobs up to run its economy. For next 10 years it's very important for China to invest its money to get appropriate interest on its reserves, where US bonds are not reliable. OBOR is another propaganda to fool others, but India is smart knows after 10 years China won't be strong as today. As Clinton once said, economy is stupid.

May 16, 2017 07:28am

@Raheel I think Chinese plant in Nandipur have a production cost of 14 Rupee per unit which is too high to sell. Same fate is with many other electricity production. Carrying low grade coal to these Plants is another challenge. Some of this Chinese investment is becoming unsustainable and inviable. Chinese banks are not giving money directly to any Pakistani companies.

Dr. Ramesh K. Sharma
May 16, 2017 07:50am

@pakistani too Enjoy and be happy at India's misery. Thanks for letting us know,

Dr. Ramesh K. Sharma
May 16, 2017 07:53am

@KJ The poor guy doesn't know what is a trillion dollar. Please forgive and ignore him.

May 16, 2017 08:27am

@MJ Khan lol..Chinese workers will get paid and Pakistan will take loan and also pay interest. All the good will be Chinese on those roads.

May 16, 2017 08:28am

The defining feature of Asian economics is China first v/s nation first.Sooner or later things will be crystal clear

May 16, 2017 08:57am

@lafanga .. so why are you so much bothered? Be happy with your CPEC and let India do its own thing!!

May 16, 2017 10:14am

@M Jamal do you expect china will solve our local way bro!!!

May 16, 2017 10:56am

If Pakistan thinks its for their good then they should go for it without thinking and careing about any other nation

May 16, 2017 12:20pm

@MJ Khan Pakistan have to pay '3.5 to 5.5 billion PER YEAR' which is equal to allmost pakistan defence budget ( Some project have interest rate of 35% ) WAKE UP & SAVE PAKISTAN.

May 16, 2017 12:30pm

@Sheraz the confused nation is only one Saying Logical Thinks (with data)

The another country where 65% of politician have different country passport(which govt. know & belive many more), allmost every second politician have Rs billion (from corruption).

So the ques. is which one you belived, 1: Smart enemy who say things with proof OR 2: 'so called friend' who have tendency of backstabbing. THINK ?

May 16, 2017 12:43pm

@sikander shallwani No electricity - repeated power cuts. Falling textile exports. No other high tech exports (IT) possible. Great law & order. What are you up to. Chinese will consume Pak in a couple of years. Good luck.

Abdulla Hussain
May 16, 2017 01:38pm

Internationally India is more isolated today than ever. The popularity of China's silk road summit is a testimony of it.

Abdulla Hussain
May 16, 2017 01:43pm

@MJ Khan: My friend you are missing on a point, the roads, the routes and the much required infra structure are being bade inside Pakistan to turn it into a modern country. The infrastructure is not being made to provide employment to Chinese workers or interest to the Chinese banks, they are already self sufficient. The effort is to build Pakistan for a better future.

Abdulla Hussain
May 16, 2017 01:45pm

@INDIAN: You mean to say an isolated tailless fox no one would like to look at.

May 16, 2017 02:08pm

@Kaz Exactly

May 16, 2017 02:08pm

India does not see scope for Indo-Central Asian connectivity in OBOR.

So why get in to the Chinese maze and lose the way?

May 16, 2017 06:28pm

@Sheraz Both are concerns, looks like you are confused. Your confusion will wear off once your homegrown industry will vanish and you will go jobless. Your GOVT wont be able to do anything at that time son.

Manoj Sharma
May 16, 2017 06:54pm

@lafanga India is not Pakistan & has enough projects going on its own strength , next 10 years India will have world class infrastructure, we actually don't need China's support to grow though china is desperate to enter Indian market and big projects !

May 16, 2017 08:34pm

There is a lot of silly talk going on about India's non participation in OBOR. China is India's largest trading partner. China can already invest in India and participate in any infrastructure projects. But as things stand now, most of infrastructure projects in India are being done by Indian companies without any need for foreigners. India does not need Chinese investment in power projects. Sea route is cheaper for Indo-Chinese trade, so there is no use of land connectivity through Himalayas. Pakistan & Indian situation is not comparable.

May 17, 2017 12:30am

@Usman How does de-monetization help bolster reserves of Banks? I think you just write what you want without thinking. Also, India exports way more to the western countries than it imports from them. India gets $100bn annually from export of software alone!!

Well Meaning
May 17, 2017 12:48am

@Ob staying out is disruptive . ? how ?

Well Meaning
May 17, 2017 12:58am

@AFRIDI will be difficult this time because the next rising superpower is india

May 17, 2017 01:20am

@lafanga So ill informed! It's an agreement that allows both the parties to use each others bases. Lemme break that down for you. That means Indians can also use American bases. Secondly, it's an agreement not to station troops, but just to use the base for refuelling etc.

May 17, 2017 04:09am

@SaMeer China will keep all computer passwords and codes for all power plants and electronics

May 17, 2017 04:24am

Who needs China when we have Indian teenagers who want build the worlds smallest satellite.

Congratulations to Rifath Shaarook.

"An Indian teenager has built what is thought could be the world's lightest satellite, which will be launched at a Nasa facility in the US in June. Rifath Shaarook's 64-gram (0.14 lb) device was selected as the winner in a youth design competition."

May 17, 2017 04:52am

@Harmony-1© "....As far as OBOR, some trolls would have us believe that collective wisdom of all those participating is far inferior to the one who has got the hump"

If not the collective wisdom, the collective purchasing power of all the participating nations (sans China) is inferior to India's. So, you are right, India does have the hump.

jugal kishore sharma
May 17, 2017 06:43am

No one countries in south Asia has competency to face with Chinese tactics. Most of Economic imbalances, sever securities treat Because of Non Democratic alliance would be expect only his bare interest expend. If 70y we are did not selfreliant, nobody take care for upliftment. if Chinese expact for Pakistan in 80% my be 40% India need also

May 17, 2017 06:55am

@Farhan Exactly my problem as we have guaranteed minimum payment to Chinese counterparts, weather we sell the electricity or not.

Nitin G
May 17, 2017 09:42am

@thinking indian, India and China have very less people to people connect. So you wont find Indians (or for that matter Pakistanis) writing comments in Chinese newspapers. No matter what circumstances we live in, India and Pakistan are connected by birth. They may hate each other now but they cannot stop themselves from talking about each other. I am hopeful that 100 years from now, we would become friends.

May 17, 2017 12:10pm

@yogesh The projects will require repairs in 40 years when the Chinese will lend you your money that you have paid them back with 17% interest and the cycle will keep repeating. They will be thrilled if you can not pay back because they will repossess your assets like what they have done in Sri Lanka. A master blend of Capitalism and Communism.

May 17, 2017 12:21pm

Let's what becomes of CPEC in the coming future ....... Stay tuned

May 17, 2017 01:54pm

Chinese goods at your doorstep is what OBOR and CPEC mean.All countries who attended OBOR may not join &sign OBOR. EUROPE already on Bankfoot shows reality.

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