Tag: South&Central Asia

islamabad —  The China-Pakistan Economic Corridor, Beijing’s massive investment plan to boost trade and economic ties with Pakistan, is 10 years old but has not fulfilled its lofty goals. CPEC became an early example of China’s Belt and Road Initiative, an aggressive effort to build billions of dollars’ worth of infrastructure in Asia and beyond. At its inception, CPEC was China’s most ambitious BRI effort: More than $35 billion was pledged for energy projects and another $10 billion for transportation. Speaking this month at a commemoration of the project’s 10th…

Islamabad —  Pakistan held a groundbreaking ceremony Friday for what will be its largest civil nuclear power plant — constructed by China — that will contribute 1,200 megawatts of electricity daily to the national grid and is estimated to cost at least $3.5 billion. Prime Minister Shehbaz Sharif and senior Chinese officials attended the televised event in the central city of Chashma, dubbed the birthplace of China-Pakistan nuclear energy cooperation. Over the past 30 years, Beijing has installed four nuclear power generation units in Chashma, collectively generating about 1,300 megawatts,…

washington —  The Taliban may have achieved a diplomatic win in an agreement to extend the China-Pakistan Economic Corridor to Afghanistan, analysts said, but implementation of the project still faces challenges. “The three sides reaffirmed their resolve to fully harness Afghanistan’s potential as a hub for regional connectivity,” said a joint statement released in May following a meeting of officials representing the three countries in Islamabad. The countries restated their commitment “to further the trilateral cooperation under the Belt and Road Initiative, and to jointly extend the China-Pakistan Economic Corridor…

NEW DELHI —  In a signal that India-Taiwan economic ties are on the rise, Taipei this week announced it will expand its presence in the country by opening a representative office in Mumbai. While New Delhi has maintained a low profile on political contacts with Taiwan, business ties between the two countries have been expanding in recent years. India’s External Affairs Ministry spokesman, Arindam Bagchi, said Thursday that Taiwan’s plans to open the Mumbai center should be seen in the context of India’s policy, which “facilitates, promotes interactions with Taiwan…

The world’s two largest economies – the United States and China – must work together to fight the “existential threat” of global warming, U.S. Treasury Secretary Janet Yellen said Saturday in Beijing at meeting with Chinese government officials and climate experts. “As the world’s two largest emitters of greenhouse gases and the largest investors in renewable energy, we have both a joint responsibility and ability to lead the way,” Yellen said. Yellen said “climate finance should be targeted efficiently and effectively” to support already established institutions like the Green Climate…