China’s strengthening relationship with Pakistan

Beijing’s recent decision to increase diplomatic, economic and strategic ties with Pakistan is part of a broader strategy to bolster China’s regional influence at Washington’s expense.China’s relations with Pakistan have been characterised by a new level of engagement as the Chinese leadership expands its role and influence in an area strategically relevant for Beijing’s core interest. In February, Beijing offered a US 500 million loan to Pakistan through the Industrial and Commercial Bank of China to support Pakistan’s diminishing foreign currency reserve and boost its economy. Separately, the Pakistan Central Bank has chosen to replace the US dollar with the Chinese Yuan for all the bilateral and investment activities including the China Pakistan Economic Corridor (CPEC) projects …………….Please Log in or Subscribe to view full details…..

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