China denies CPEC intensified Pakistan's economic risks


Economic Times
April 08, 2019
PTI
 China on Monday refuted criticism that the USD 60 billion CPEC has intensified Pakistan's economic risks, saying that less than 20 per cent of the current projects under the initiative are using Chinese loans.

The China-Pakistan Economic Corridor (CPEC), which connects Gwadar Port in Balochistan with China's Xinjiang province, is the flagship project of Chinese President Xi Jinping's ambitious Belt and Road Initiative (BRI).
As China pressed ahead with the BRI, it drew strong criticism that Chinese projects are being built with heavy interest rates and without due diligence studies about their viability, leaving the smaller countries in heavy debt.

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