If beating its arch rival India in equity markets was not enough, Pakistan has beaten India in another metric i.e. geopolitics, says an article published in American business magazine Forbes.
“The country’s leaders have skillfully leveraged Pakistan’s strategic geographic location to extract a series of benefits from America and China,” says the article published on January 9.
The author noted that the Pakistan government in 2001, leveraged its proximity to Afghanistan to get a big part of its foreign debt written off from the US.
As Pakistan was benefiting from the debt write- off, China came along to re-ignite Pakistan’s market, once again.
“Beijing needed a western route to the Middle East, and Africa–China’s second continent. Ideologically that is, which can explain why Beijing committed $46 billion to China-Pakistan Economic Corridor (CPEC),” says the Forbes article.
The author added that China has also been investing in Pakistan’s infrastructure companies.
China is repeatedly blocking India’s efforts to join the Nuclear Supplier Group (NSG) and it has sided openly with Pakistan on the Kashmir issue.