Therefore, even if a large slice of their population remains in poverty, the economies of China and India are completely integrated into the world markets and financial exchanges, making the development of these two key countries important to maintaining a peaceful international scene during the 21st Century. Following the financial crisis of and the difficulty faced by the main world powers in maintaining a sustainable economic growth, China and India are among the few economies to record a positive rate of growth. Many hope that a closer collaboration among these two colossus may lead the rest of the world to break the negative trend of the worldwide economy. Nevertheless, when China and India are more closely and meticulously compared, the profound difference in development between the dragon and the elephant is immediately noticeable, with the former having a decisive advantage over the latter.
Background[ edit ] Plans are for a corridor stretching from the Chinese border to Pakistan's deep water ports on the Arabian Sea date back to the s, and motivated construction of the Karakoram Highway beginning in Expansion of Gwadar Port then ceased thereafter owing to political instability in Pakistan following the fall of General Pervez Musharraf and subsequent conflict between the Pakistani state and Taliban militants.
A cargo train loaded with tonnes of commodities left Kunming for the port city of Guangzhou from where the cargo will be loaded on ships and transported to Karachimarking the opening of the new route.
Gwadar Port Complex[ edit ] Main article: Gwadar Port Initial infrastructure works at Gwadar Port commenced in and were completed in however plans to upgrade and expand Gwadar 's port stalled. Under CPEC agreement, Gwadar Port will initially be expanded and upgraded to allow for docking of larger ships with deadweight tonnage of up to 70, Byit is envisaged that manufacturing and processing industries will be developed, while further expansion of the zone is intended to be complete by Three corridors have been identified for cargo transport: Highlighted in blue is the kilometre road between Gilgit and Skardu which is to be upgraded to a 4-lane highway.
China and Pakistan already conduct trade via the Karakoram Highway. From there, access onwards to Islamabad and Lahore continues as part of the existing M1 and M2 motorways.
Burhan will also be at intersection of the Eastern Alignmentand Western Alignment. Upgrades to the kilometer long section between Burhan and Raikot of the Karakoram Highway are officially referred to in Pakistan as the Karakoram Highway Phase 2 project.
At the southern end of the N, works are already underway to construct a kilometer-long, 4-lane controlled-access highway between Burhan and Havelian which upon completion will be officially referred to as the E expressway.
Sections of the N around these projects will be completely rebuilt in tandem with dam construction. Reconstruction works on this section of roadway preceded the CPEC, and were initiated after severe damage to roadways in the area following the Pakistan floods.
Portions of the Karakoram Highway were submerged in the lake, forcing all vehicular traffic onto barges to traverse the new reservoir. Construction on a 24 kilometre series of bridges and tunnels to Attabad Lake began in and required 36 months for completion.
Upgrade and construction works on this section currently known as Super Highway between Karachi and Hyderabad began in Marchand will convert the road into the 4-lane controlled access M9 Motorway which will be completed in an estimated 30 months. The project will require the construction of seven interchanges, and 25 bridges on the Indus river and irrigation canals.
In Julythe Pakistani government announced that the project would be open to international bidders on a build-operate-transfer basiswith Chinese and South Korean companies expressing interest in the project. The portion depicted by the orange line between Basima and Shahdadkot is sometimes regarded as part of the Western Alignment.
The Western Alignment project will result in the upgrading of several hundred kilometres worth of road into 2 and 4-lane divided highways by mid, with land acquisition sufficient for upgrading parts of the road to a 6-lane motorway in the future. Of those kilometres of road, kilometres have already been rebuilt as of January It will consist of 11 interchanges, 74 culverts, and 3 major bridges spanning the IndusSoanand Kurram Rivers.
From Surab, a kilometre long route known as the N85 National Highway will connect central Balochistan with the town of Hoshab in southwestern Balochistan province near the city of Turbat.
The stretch of road between these cities was completed in December as per schedule. It will instead be financed by the Asian Development Bank and the Asian Infrastructure Investment Bank and will be the first project jointly financed by those banks.
The two roads form the kilometre route between Quetta and Multan in southern Punjab. Overhauling and reconstruction of the line will allow trains to travel at up to kilometres per hour. Phase 2 of the ML-1 overhaul between Multan and Hyderabad is marked in orange.
Phase 3 of the project is indicated by the green line between Hyderabad and Karachi.An overview of the causes and consequences of the global financial crisis that hit the world in , last updated September 30, Data and research on economic surveys and country surveillance, country-specific economy surveys, economic outlooks, economic policy reforms, Going for Growth, OECD Journal on Economic Studies., The Chinese economy will remain the major driver of global growth for the foreseeable future.
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and to the countries like China and India which had experience a fast economic growth are also likely to keep the positive growth but experience a substantial slowing of their economies (Peters , p).
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