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Pakistan China friendship is stronger than Himalayas and deeper than
Pacific Ocean, its fragrance spreads all over the world; it is among
people to people, in the hearts, minds, and sentiments of the people of
both the countries. It is time tested, all weathered, long lasted,
historical, unique and visionary. Pakistanis consider China as their
brother, supporter, trustworthy, reliable and credible friend. Pakistan
China friendship is so deep rooted that it is narrated in stories told
by mothers to their children , it is told to students in sc-hools ,
colleges and universities, it is found in poetry and music, it is found
in scholars articles and research.
China is a country in East Asia. It is the world’s most populous
country, with a population of around 1.4 billion, covering about 9.6
million square kilometers. It is the world’s third state by area.
China is the factory of the world. In 1970 its global production
contribution was only 3% now it is 25%, it is exporting to about 200
countries and producing about 80% world’s air conditioners , 70 %
mobiles , 60% shoes, 74% solar sales , 60 % cement, 50% coal, 45% ship
building, 50% steel, is being produced by just one country “ CHINA”. It
is also astonishing that about 50% apples are produced by China while
USA which is second in rank only produces 7 % apples. It is now the
world’s largest economy with GDP of 23.25 trillion. It is also the
largest exporter of the world with $ 2.2 trillion export. It is
surprising that 90% American flags are also manufactured by China. It is
normally thought that China can only produce cheap goods but people are
highly surprised when they are told that 60% of most branded luxurious
items are produced in China. In 1970s it was poorer than African
countries. It 1978 its per capita was just $ 155 dollars while it jumped
to $ 7,590 which is 49 times increase. It lifted more than 800 million
people from poverty. Its mass production policies destroyed the price
structure of most of the world’s famous companies and countries. It has
competitive edge over many countries due to its mass scale production.
Its workforce is highly trained , efficient, active, vibrant and
experienced. China is the largest economy in the world by PPP since
2014, the world’s second largest economy by nominal GDP since 2010, and
the largest economy in Eurasia. Since the introduction of economic
reforms in 1978 , China’s economy has been the world’s fastest growing
major economy , with annual growth rate consistently above 10%.
According to the World Bank China’s GDP grew $ 150 billion in 1978 to
US$ 12.24 trillion by 2017. China also recorded the fastest rise in GDP
per capita in the world from 1960 to 2018. China is the largest export
and second largest importer of the world after America. One of the
world’s foremost infrastructural giants China has the world’s largest
bullet train network , the most super tall skyscrapers in the world.
China borders with 14 countries , more than any other country except
Russia.
China borders with Vietnam, Laos, and Myanmar ( Burma) in South East
Asia, India, Bhutan, Nepal, Afghanistan, and Pakistan in south Asia ,
Tajikistan, Kyrgyzstan in Central Asia and Russia, Malaysia and North
Korea in Inner Asia and North East Asia. China shares Maritime
boundaries with South Korea . China is the largest manufacturer of the
world, 2nd high tech manufacturing since 2012, it is the second largest
retail market in the world, it leads world in e commerce accounting 50%
of the global market in the world. It is also world leader in the
electric vehicles, manufacturing and buying half of all the plug in
electric cars in the world. China has 174 GW of installed solar capacity
by the end of 2018, which amounts more than 40% of the global solar
capacity. As of 2018 China was first in the world in total number of
billionaire and second in millionaires. There were about 658
billionaires , 3.5 million millionaires, . China has higher percentage
of people as 100 Chinese are 10% of the wealthiest individuals in the
world. China has the world’s largest middle income population.
ECONOMY
Population : 1.394 billion
GDP Nominal : US$ 14.140 trillion ( 2019)
GDP (PPP) : $ 27.307 trillion ( 2019)
GDP per Capita : $ 10,099 Nominal
: $ 19,504 PPP
GDP by sector :
Agriculture 7.9 %
Industry 40.5%
Services 51.6%
Exports : US$ 2.5 trillion
Export goods : US$ 2.5 trillion (2019)
Main Export partners : USA 19.25%, EU 16.43% ASEAN 12.83 % Hong Kong
12.16% , Japan 5.9% , South Korea 4.37 % Russia 2.64% Others 23.33%
Imports : US$ 2.08 trillion (2019)
Import partners : EU 12.82% ASEAN 12.58 % , South Korea 9.58 % Japan
8.54% , Taiwan 8.32%, USA 7.24% , India 4.5% , Brazil 3.68% others 33.74
%
Pakistan China Trade Statistics ( Billion US$)
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Pakistan and China have signed Free Trade Agreement
The Amending Protocol, also known as Phase-II of the CPFTA, intends to
deepen trade relations between China and Pakistan through increasing
liberalization of trade in goods, safeguarding mechanisms for its
domestic industry, and facilitating inter-country balance of payments
and electronic data exchange.
Most notably, the Protocol introduces a new tariff elimination schedule
to widen mutual market access, amends rules of origin and trade remedies
provisions, and adds a new chapter on customs cooperation.
In the 2017-2018 fiscal year, China-Pakistan trade volume totaled
US$13.2 billion, accounting for 16.4 percent of Pakistan’s trade volume.
This round of revisions to the CPFTA expands and diversifies trade
opportunities for business on both sides, while maintaining fair and
equitable protection of local industry interests.
Reduced tariffs, wider market access
The protocol stipulates that the proportion of tariff lines with
zero-tariff products between China and Pakistan will gradually increase
from 35 percent to 75 percent in a period of 10 years as implemented by
China, and 15 years by Pakistan.
There is a need to do serious efforts to increase Pakistan’s share in
trade volume.
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