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Belt and Road

Squeezed by debt and the US, Pakistan slows Belt and Road projects

'Even Beijing knows' things are on hold, experts say

Pakistani Prime Minister Imran Khan. left, speaks with Chinese Premier Li Keqiang during a signing ceremony in Beijing, in April.   © Reuters

KARACHI -- Facing a prolonged financial crisis, and trying to balance ties between China and the U.S., Pakistan's policymakers are slowing the pace of multibillion dollar projects under China's Belt and Road Initiative.

The China-Pakistan Economic Corridor, or CPEC, launched in 2014, aims to build links between China's Xinjiang Autonomous Region and the port city of Gwadar in southern Pakistan. The total cost of the project is estimated at $60 billion.

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