Business & Finance

Impact of China, Pakistan infrastructure projects being felt by ordinary Pakistanis: Shaukat Aziz

BEIJING: Former prime minister and Boao Forum board member Shaukat Aziz, speaking positively of China-Pakistan infra
Published April 9, 2018 Updated April 9, 2018 08:21pm

BEIJING: Former prime minister and Boao Forum board member Shaukat Aziz, speaking positively of China-Pakistan infrastructure ties and strongly backing the close relations, Monday said the impact of the projects, several of which were given the green light while he was in office, were now being felt by ordinary Pakistanis.

"If you asked the average person on the streets of Pakistan, they would tell you that we consider China as one of our major friends. Why? China has stood by us in difficult times and is consistent in its relationship.

"Secondly China, with the Belt and Road, has really jumped the curve in terms of how to connect with countries and how to conduct its diplomacy," he said while talking to China Global Television Network (CGTN) on the sidelines of Boao Forum for Asia annual conference.

As Pakistan's prime minister between 2004 and 2007, Aziz oversaw strong growth boosted by his deregulation policies and also built ties with China.

He said he believed the success of the China-Pakistan relationship on infrastructure made it all the more attractive for other countries to follow via the Belt and Road Initiative.

"If your infrastructure improves, your roads improve, your telecommunication system improves, your ports improve, your airports improve, and that brings in more Chinese capital, more infrastructure improvements, this is what the doctor ordered," he added.

On the trade issue between the United States and China, Aziz expressed faith in the leadership of both the countries to resolve tensions, stressing that commonalities were too strong for a "snapping" in relations to occur.

In general, he added, tariffs were not a particularly effective way of protecting an economy in the modern world. "My own view is that tariffs in today's world, as a means of protection, are gradually dying. You can create short-term pain, but not long-term gain."

And ultimately, he added, if tariffs were implemented on Chinese goods heading to the US, the American consumer not the government would have the final verdict – they would decide if they wanted to pay more for the product.

Aziz stressed the importance of connectivity to finding solutions, citing the Boao Forum as an example of people from different countries and backgrounds coming together to share ideas, clear up misunderstandings and debate issues that might still be to enter the public consciousness.

"Boao is a forum that stands alone, there is nothing else quite like it, and its significance is only growing. In his role as a board member along other leading figures from around the world, he is living the interactivity that he believes is so important to progress.

"Net-net the Boao Forum is increasing in its clout and its influence. It is not competing with anybody. It is I think the only major Asian forum which has global reach."

"So what is he expecting from President Xi Jinping's keynote speech on Tuesday, an address Chinese State Councilor and Foreign Minister Wang Yi suggested last week could include new policies on opening up," he said, "In terms of China and its major reform agenda, there is a lot of change that is happening, has happened.

"Look at China today against 10 years ago, look at China today and what it will be 10 years from now. We're talking about being in the midst of massive change – positive. If they execute it well it will have huge dividends, and I see no reason why they can't execute it very well.

"They have the human capital, they have the will to work hard, and they are always being sought after by other countries in the world."

Copyright APP (Associated Press of Pakistan), 2018