ISLAMABAD, Sep 27 (Alliance News): In the lead-up to the 75th anniversary of the founding of the People’s Republic of China, KTrade Securities Limited published a report titled China’s 75-Year Journey: Breaking Myths & Inspiring Hope.
The report showcases China’s impressive economic growth, which has consistently impacted global markets and emerging economies over the past few decades.
Ali Farid Khwaja, Chairman of KTrade Securities, described China’s economic journey as an inspiring model for developing nations, demonstrating that rapid progress is achievable.
He highlighted that China’s economic success has lifted 800 million people out of poverty and debunked the myth that only migration to developed countries can lead to prosperity.
China’s rise was fueled by domestic reforms and efficient use of resources rather than resource extraction, Khwaja noted.
Sectors such as telecommunications, solar energy, and electric vehicles have made global technological advancements more accessible, with China even subsidizing these technologies to support equitable growth in other nations.
The report identifies the China-Pakistan Economic Corridor (CPEC) as a significant driver of Pakistan’s socio-economic development.
Since its launch in 2013, CPEC has boosted Pakistan’s Large-Scale Manufacturing (LSM) sector and is expected to further enhance the country’s growth, with Special Economic Zones (SEZs) becoming operational by 2030.
Moreover, the Asian Development Bank (ADB) estimates that CPEC could raise Pakistan’s GDP by 2.5% by 2030, with improved infrastructure and new industries.
Looking forward, China is shifting from a manufacturing-based economy to one driven by services and advanced technologies like AI, 5G, and renewable energy, aiming for long-term sustainability.
Khwaja remains optimistic about China’s future, citing its leadership in emerging technologies as key to maintaining high economic growth.
