Nikkei: China-Iran deal overshadows Pakistan Belt and Road project
Wed July, 2020, Age: 4 years
China’s reported $400 billion investment deal with Iran could eclipse the China-Pakistan Economic Corridor, up to now the lynchpin in the Belt and Road Initiative. Specifically, China will invest in and develop the Iranian coast near the Strait of Hormuz, including the strategic port of Jask. Analysts believe that once the port of Jask is operational, Gwadar – a port that China has develop and has maintenance rights to for another 57 years – will lose its strategic value to Beijing. Jask is closer to the Strait of Hormuz than Gwadar.