Islamabad (AFP) - Chinese President Xi Jinping heads to Islamabad Monday for a rare visit to unveil a $46 billion investment plan that Pakistan hopes will end its chronic energy crisis and "transform" the country into a regional economic hub.With the plan, known as the China Pakistan Economic Corridor (CPEC), Beijing hopes to ramp up investments in Pakistan as part of its ambitions to expand its trade and transport footprint across Central and South Asia, while countering US and Indian influence.Pakistan, a Muslim majority country of 200 million that has been battling an Islamist insurgency for over a decade, hope the investments will spur its long-underperforming economy, which the IMF projects is set to grow 4.3 percent this year.The two allies have enjoyed close diplomatic and military relations for decades, though economic ties have only grown more recently.
Comment on China's Xi heads to Islamabad to unveil $46 billion investment
Issam Ahmed, Business Insider
Sun, 04/19/2015 - 2:14pm
Welcome to Wopular
Wopular is an
online newspaper rack,
giving you a summary view of the top headlines from the top news sites.
Senh Duong (Founder)
Wopular,
MWB,
RottenTomatoes
MoviesWithButter : Our Sister Site
- "Expendables 4" Starts Shooting This Fall, Says Randy Couture at the Arnold Sports Festival more
- “Expendables 4” Gets Funding Interest from “Ip Man 3” Financier more
- "Ip Man 3" Distributor Suspected of Box Office Fraud, Parent Company Loses $200M in Market Cap more
- Yen Targets "Ip Man 4" for 2018 Release; Discusses Film with Director, Producer more
- "Ip Man 3" Shatters Expectations with $72M Opening [China Box Office] more