ISLAMABAD: The Chinese model of inclusive and participatory economic growth is a path to modernisation featuring globalisation and multilateralism based on shared common security for every single country and the region.

The Belt and Road Initiative (BRI) is connecting countries and civilisations for cultural harmony and trade. Pakistan is a major beneficiary of China’s new development paradigm that has no aggressive plans against any country.

The China Pakistan Economic Corridor (CPEC) was launched when no country was willing to invest in Pakistan’s infrastructure.

These remarks were made by Senator Mushahid Hussain Sayed while speaking at a seminar.

According to a statement, the seminar, “China for a new security, connectivity and trade paradigm”, was organised by the Development Communications Network in collaboration with the China Study Centre, Comsats University Islamabad campus.

Mushahid Hussain, the chairman of the Senate Defence Committee and founder chairman of the Pakistan-China Institute, said Pakistan’s bureaucratic hurdles and political instability were the main reasons for slow-paced progress on the CPEC initiatives.

“Pakistan shall act fast before it’s too late. All stakeholders shall play their role in expediting the progress on CPEC,” he added.

Ambassador retired Naghmana Hashmi said: “The intensification of Sino-American competition currently forms the most important instance of great power competition which has the potential of becoming a major conflict engulfing the entire world.”

It has added to the uncertainty, instability and chaos in the already worrying and unpredictable flux in the world order prevalent these days. In the last over 73 years of its establishment, New China has left a blazing trail of remarkable achievements in all walks of human endeavour.

The Chinese nation is now well on its path to achieve the dream of great rejuvenation of the Chinese nation by the middle of this century and achieve the second centennial goal of establishing a moderately developed society by 2049”.

Nust China Study Centre Director Xian Yang said: “The post-Covid-19 world has changed completely. New business models have been put into practice in China. We have to face the reality that business has entered the 4.0 era. How can China’s economic model interact and communicate with Pakistan in the 4.0 era and produce good results is the topic we want to share today. China has already crossed the era of website sales and app sales. China has entered a new era of logistics sales and has formed barrier-free and borderless trade with Belarus, Russia, Serbia and many other countries. This form of trade is what we call live streaming, and live streaming is still in its infancy in Pakistan”.

Bahria University Assistant Prof Dr Hassan Daud Butt said three facets of geography, connectivity and human resource capacity will be significant in leveraging the true potential of any regional integration project like the CPEC.

Comsats University China Study Centre Director Dr Tahir Mumtaz Awan said: “Pakistan can explore opportunities for enhanced economic cooperation with Central Asian states, facilitated by China’s investments and initiatives in the region”.

Published in Dawn, May 29th, 2023