US-CHINA ECONOMIC RIVALRY AND ITS IMPACTS ON PAKISTAN’S ECONOMY

Abstract

The United States and China had been in an economic rivalry since quite long. The United States, contemporary superpower of the world, gained independence from Britain and since the Second Industrial Revolution; it has made significant economic progress due to which it has dominated the world largely. On the other hand, China’s economic growth begun in 1978 as it established good trade relations with foreign countries. After the disintegration of USSR a new cold war emerged between China and US. In order to boost its economic growth China initiated its Belt and Road initiative in 2013, and through this project China sought to connect itself with Asian countries through sea and roads. In order to counter this project US signed the Blue Dot Network. Moreover, this great power rivalry has a significant impacts on Pakistan's economy which is thoroughly discussed in this research. . The study has also explored the emergence of US-China rivalry and has focused on the fact that how China’s growing economy is a threat to the US. Moreover, the data collected is qualitative based on secondary sources.