The United States warned Pakistan that it faced long-term economic damage with little return if China keeps pursuing its giant infrastructure push.<br />''&nbsp;<br />''The top US diplomat for South Asia said the China-Pakistan Economic Corridor heralded as a game-changer by both Asian countries but this would profit only Beijing and said that the United States offered a better model. &nbsp;<br />''<br />''Speaking at the Woodrow Wilson International Center for Scholars, acting assistant secretary of state for South Asia, &nbsp;Alice Wells said it needs to be clear, that CPEC is not about aid since it is driven by non-concessionary loans, with Chinese companies sending their own labor and material.<br />''<br />''She said the corridor is going to take a growing toll on the Pakistan economy, especially when the bulk of payments start to come due in the next four to six years.<br />''<br />''While acknowledging that the United States could not come to Pakistan with offers from state-run companies, Wells said private US investment, coupled with US grants, would improve the troubled economy's fundamentals.&nbsp;<br />
News On AIR | November 22, 2019 9:14 PM
US warns Pakistan of long-term consequences for pursuing China's Economic Corridor project