Dr. Matthew McCartney (Oxford University) speaking during EFSAS Seminar in EU Parliament
07-11-2018, Brussels
Dr. Matthew McCartney, Director of the South Asia Program and Professor in the Political Economy and Human Development of India at Oxford University, approached the topic of CPEC from an economic perspective. Dr. McCartney explained how China and Pakistan have extensive historical connections and that the two countries’ relations go back very far while arguing that the development of CPEC is the natural course of action for the two countries and in essence is a connotation of projects that had been previously planned. He claimed that the financing of infrastructure by China is more opportunistic for Pakistan since the money from the IMF or the United States would have more stringent conditions and regulations. According to his findings, the CPEC is small in terms of proportions by historical standards and most likely will not make a large impact as may have been advertised. He further exhibited how infrastructure usually diminishes the disparity of prices of goods, yet since in Pakistan there already exists a low disparity, transportation and infrastructure are not the aspects which would drive prices in the country. In conclusion, Dr. McCartney stated that CPEC will have little impact on the prosperity of the country and could prove to be negative for Pakistan.
Dr. Matthew McCartney speaking during EFSAS Seminar in EU Parliament
