The emerging geopolitics is overshadowing global economic prosperity, social development and even basic humanity, as conflicts, contradictions and conspiracies grip regions worldwide. The continuation of Cold War mentalities, the formation of blocs, hybrid media and national narrative wars, military misadventures, hegemonic obsessions and economic protectionism, including the imposition of unilateral sanctions by western powers, are dimming the prospects of developing economies globally.
However, the launch of the Belt and Road Initiative (BRI) in 2013 disseminated the hopes of “better”, “secured” and “comfortable” lives for people, communities and countries in the world. It was the start of the grand concept of “geo-economics”, discarding the seas of “uncertainties”, “instabilities”, “disharmonies” and “dysfunctional” socio-economic systems perpetually generated by the western champions of geopolitics.
Actually western imperialism by nature having specific designs created “impassable” black holes of poverty, unemployment, “discrimination”, corruption and unlimited “conditionality’s” in the world. Whereas, the BRI supported “collective prosperity”, eradication of poverty, generation of new jobs, massive development and, importantly, free will of international relations and engagements.
Over its first decade, BRI has significantly bolstered trans-regional connectivity and facilitated world-class infrastructure development across member countries. Through principles of shared prosperity and multiculturalism, as well as initiatives like Xi’s Global Development, Security and Civilizational Initiatives, the BRI has fostered economic, trade, sea, rail, and human corridors. Additionally, it has effectively addressed challenges such as high inflation, economic stagnation and social disorder while outlining strategies to tackle global issues like climate change, child labour, human rights and immigration.
The China-Pakistan Economic Corridor (CPEC), as the flagship project of the Belt and Road Initiative (BRI), stands to benefit greatly from a green vision. Notably, Chinese solar solutions company LONGi has announced plans to achieve a remarkable 2 gigawatts (GW) of solar power capacity in Pakistan. This reflects a broader trend, with the involvement of more Chinese companies expected to increase Pakistan’s solar energy market from 1.3GW to 9.77GW in the near future. Moreover, collaboration between Chinese and Pakistani entities has spurred numerous electric vehicle (EV) projects, leading to a growing market share for Chinese EV brands in Pakistan.
With the anticipated visit of Prime Minister Shehbaz Sharif to China, the ML-1 mega rail transport project is slated to commence during the current fiscal year. This initiative holds significant potential in modernizing Pakistan’s trade, industry and commerce while enhancing connectivity between the country’s seaports and economic zones. Described as the most favorable transit route for regional countries, the ML-1 railway project under CPEC is poised to play a pivotal role in bolstering regional connectivity. Additionally, the Federal Minister of Planning has announced plans to establish a “green corridor” in CPEC Phase-II, further advancing the country’s green energy transformation efforts.
Xi’s new productive forces or economic drivers would gear the BRI towards high qualitative development in all the member countries. The transformative application of high-tech green industries will enhance efficient land management and food security use in the world and Global South will be champion of energy & food security in the days to come.
According to Chinese data (2024), China currently serves as the food basket for about 20% of the world’s population and aims to expand its land access to enhance food supply chains domestically and globally. These economic objectives will be driven by high-tech industrial applications, supporting skilled labour capacities and mitigating potential shortages of land, food and critical resources within China and the Belt and Road Initiative’s global network. These advantages are geared toward improving people’s living standards and livelihoods. Additionally, China’s high-tech green industrial development, particularly in new energy vehicles (NEVs), holds significant promise, as China has maintained its position as the global leader in NEV sales for nine consecutive years, with a market share exceeding 60 percent.
The demonstrated leadership in this field can enable Chinese cities and the BRI countries to benefit from electric mobility which is reliable, cheap, durable, energy efficient and environment friendly. Thus it is immensely contributing to achieve the desired goals of carbon neutrality in the future.
Critical analysis reveals that China’s greater investment in these modernized and innovative sectors provide major incentives to both local and foreign enterprises to treat China as a connecting hub and global champion for green industry progress, given the massive scale of manufacturing in the country and in the BRI members.
In 2023, China’s renewable energy capacity reached 50% of its total energy capacity, with plans to exceed its target of installing 1200GW of solar and wind energy capacity by 2030, five years ahead of schedule. Numerous international reports confirm China’s status as the leading producer of green technology, particularly in electric vehicles (EVs), solar photovoltaics, and wind energy. This production prowess positions China to export these technologies at increasingly competitive prices to the rest of the world, including Belt and Road Initiative (BRI) member countries. The BRI offers opportunities for poorer nations to access 5G technology, low-cost solar and hydro energy, and long-term financing, providing a comprehensive solution for sustainable development.
Interestingly, the Northern Power Generation Company Limited (NPGCL) in Muzaffargarh has partnered with Chinese firm NGLE, backed by SIFC, in a $200 million MoU to convert a thermal power plant into a 300-MW solar project. This conversion is expected to yield 400 million units of electricity annually at a reduced cost of PKR 14 per unit from the previous PKR 45. Anticipated yearly savings of US$44 million will be achieved through decreased heavy fuel oil imports, aligning with SIFC’s Renewable Energy Transition goals and utilizing GENCO-III infrastructure. Additionally, the Commerce Ministry advises Sinotec Solar to explore a joint venture with Ghani Glass for solar panel localization, marking the initiation of a green transformation journey in the country and signaling positive prospects for sustainable development.
In summary, serious efforts should be initiated to strengthen joint research on modern green technologies in key fields. It would further strengthen the green transformation drive in Pakistan and the BRI members alike. Cultivation of energy technology and its related industries into new growth models gearing up digitalization, modernization, qualitative industrialization and will promote the development of new quality productive forces,” stressed Chinese President Xi Jinping most recently.
Resultantly, high-tech green industries and their growing contribution to China’s economic growth underline massive imperatives for a transformative future which may also be replicated in CPEC Phase-II.
