China’s New Silk Road dwarfs US investments in Pakistan
One Belt, One Road projects are welcomed, as US companies look elsewhere
China’s pledge two years ago to loan and finance US$55 billion in infrastructure spending for the China-Pakistan Economic Corridor comes at a time when US investment in the country has slowed dramatically.
“We are not on their radar,” Bloomberg quotes M. Abdul Aleem as saying of US investors. Aleem, CEO of Karachi-based Overseas Chamber of Commerce and Industry, added that US firms “tend to stay away when it comes to Pakistan.
There is also concern that the current US administration’s proposed cuts to foreign assistance will hit Pakistan, the sixth largest recipient of American aid.