China’s vision for global governance could increase economic opportunities for Pakistan-INP

By Azam Tariq

China’s pursuit of a more just and equitable global governance order could create new economic opportunities for Pakistan, paving the way for enhanced regional connectivity, broader trade networks and deeper development cooperation. Nonetheless, experts stressed that domestic reforms and regional stability would be crucial to translate these opportunities into tangible gains.

The discussion follows the June 17 release by China’s State Council Information Office of a white paper titled More Just and Equitable Global Governance: China’s Principles, Proposals and Actions, which outlines Beijing’s vision for reforming global governance through multilateralism and inclusive economic globalization.

The white paper highlights the Global Governance Initiative (GGI), which has gained support from nearly 160 countries and international organizations, and more than 60 countries have joined the Group of Friends of Global Governance.

Pakistan occupies a notable position in this evolving framework as host to the China-Pakistan Economic Corridor (CPEC), the flagship project of China’s Belt and Road Initiative (BRI), providing the country with an established platform for regional connectivity and economic cooperation.

According to the Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI), CPEC has attracted over $25.9 billion in direct investments, created over 260,000 jobs and added over 8,000 megawatts to Pakistan’s power generation capacity.

Analysts say these existing economic ties could allow Pakistan to benefit more quickly if China’s governance proposals translate into expanded regional cooperation, infrastructure investments and development partnerships.

They believe that China’s global governance agenda offers Pakistan an opportunity to strengthen its exports, attract investments and deepen regional economic integration. They stressed, however, that achieving these gains would depend on sustainable improvements in security, governance, industrial competitiveness and regional cooperation, enabling the country to convert its strategic alignment into measurable economic results.

Speaking to Wealth Pakistan, Imran Khan, geopolitical analyst and senior fellow at the National Dialogue Forum (NDF), said China’s growing role in development and global governance presents new opportunities for developing countries, especially those already participating in the BRI.

He said that Pakistan’s participation in CPEC puts the country in a favorable position to benefit from the GGI.

“Since Pakistan is part of the BRI’s flagship CPEC project, it has a real advantage over other developing countries,” he said.

However, Khan warned that Pakistan’s internal security challenges and a rent-seeking economy dominated by bureaucratic inefficiencies and vested interests could limit its ability to capitalize on these opportunities.

He said Pakistan must undertake governance reforms to ensure that strategic cooperation results in inclusive economic growth rather than being limited to infrastructure investments.

On regional connectivity, Khan stressed that Pakistan should align its economic strategy with China’s broader vision connecting South Asia, Central Asia and West Asia. He added that lasting peace in Balochistan, Khyber Pakhtunkhwa and Afghanistan would remain essential to realize the country’s ambition to become a regional trade and transit hub.

Dr Yasir Masood, a Pakistani geostrategic analyst and political commentator, told Wealth Pakistan that China’s governance vision reflects a structural response to an increasingly multipolar world and seeks to give developing countries a stronger voice in global economic decision-making.

“China’s vision reflects a broader effort to make global governance more representative of developing countries in an era of increasing multipolarity,” he said.

Masood said Pakistan could benefit from stronger participation in international economic institutions, expanded regional trade and connectivity, as well as better access to development finance, technology transfer and institutional partnerships.

He said Pakistan should deepen regional connectivity through CPEC while expanding economic ties with Central Asia, the Middle East and the broader Eurasian region. At the same time, he stressed the need to strengthen industrialization and export competitiveness so that better connectivity generates sustainable economic growth.

Masood also called for a more active role for Pakistan in multilateral platforms focused on promoting development finance and infrastructure cooperation, as well as an increased focus on South-South trade and investments in Asia, Africa and the Gulf to diversify exports and reduce dependence on a single market.

Credit: INP-WealthPk

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