As China and Pakistan agreed on Tuesday to push ahead with their huge economic and infrastructure scheme, analysts said disputes over individual projects would not have a significant impact on its progress. Officials from both sides were finalizing a long-term plan to 2030 for the US$57 billion China-Pakistan Economic Corridor (CPEC) on Tuesday as they wrapped up a Joint Coordination Committee meeting in Islamabad, the South China Morning Post reports. The CPEC is a flagship project under Beijing’s “Belt and Road Initiative.” The two nations on Monday agreed to begin the first phase of developing special economic zones. But Pakistan rejected China’s demand to use the yuan in the Gwadar Free Zone, saying this would compromise its “economic sovereignty,” the Express Tribune reported. Last week, Pakistan pulled the plug on a US$14 billion deal to build the Diamer-Bhasha Dam – excluding it from the CPEC – saying China’s conditions for funding the project were unacceptable and went against its interests.
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