CPEC's future grim as Pakistan's rising debt makes China back away from funding Belt and Road Initiative
Image Credit: Shortpedia
According to the reports, Pakistan's rising debt has forced China to back away from Pakistan's $60 billion commitment to the global Belt and Road Initiative. "The CPEC's future is not only clouded by China's apparent new, more conservative lending policy but also Pakistan's overborrowing, which is fast driving the country toward a debt crisis," an article by FM Shakil read. Pakistan is now deep under a debt trap.