Amid rising number of incidents of corruption and terrorist attacks on Chinese engineers, China seems to be backing away from its initial promises made to Pakistan under its China-Pakistan Economic Corridor (CPEC), a US$60 billion infrastructure building plan.
As per the reports, the Pakistan Army, in a bid to reassure Beijing that their investments will be more secure amid the terrorist attacks on Chinese engineers and others facilitating the infrastructure projects, is set to take near-total control of the CPEC.
According to the data presented by Boston University researchers in the United States, the overall lending by the state-backed China Development Bank and the Export-Import Bank of China, in 2019 declined from a peak of USD 75 billion in 2016 to just $4 billion last which further got shrunk to around $3 billion in 2020.
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