China: The Belt and Road dream project built on the directives of Chinese President Xi Jinping to rule the world has reached the verge of failure. Its friends Pakistan and Sri Lanka have become a threat to China. China is spending 880 billion dollars under the Belt and Road Plan. Under this plan, China has invested 53 billion dollars in Pakistan, 11 billion dollars in Indonesia, 41 billion dollars in Singapore, 33 billion dollars in Saudi Arabia, 30 billion dollars in Malaysia and billions of dollars in other countries of the world. China’s attempt was to capture these countries by trapping them in debt, but now this debt has become a problem for them. Not only this, a prestigious Japanese newspaper has also revealed that China has shared a ‘hidden’ debt of 385 billion dollars to appease the governments of countries around the world.
The situation is that the China-Pakistan Economic Corridor, which the governments of China and Pakistan are giving as an example, has not made any concrete progress in eight years. China promised that a new airport would be built in Gwadar, Gwadar would be a free zone. There will be a 300 MW coal based power plant and a water treatment machine. According to the report, none of this has been achieved. Even the investment made by China here, the economy is not getting much benefit.
China promised Gwadar city to be an example for the world. There are overflowing drains and development is nowhere to be seen. China wants to connect its Xinjiang province to Pakistan through Gwadar to avoid any crisis in Malacca Strait. This will give it direct access to the Indian Ocean.
When this plan was finalized, the government of Pakistan said that Gwadar will be made Dubai. This promise proved hollow and the CPEC scheme is on the brink of failure like the Belt and Road. Most of the Belt and Road projects have either failed or had poor results