CPEC in Question
Interpretation of following passage from 'The New Silk Road' can be pondered to guage the merits and demerits of China belt and road initiative in general and CPEC in particular.
Lagarde, managing director of the IMF, noted the potential benefits of large scale projects, but also gave a diplomatically worded warning while in Beijing in the spring of 2018: Ventures can also lead to a problematic increase in debt service rises and creating balance of payment challenges. She meant that countries could end with a sovereign default and be at mercy of their creditor.
In 2011 Tajikistan's government ceded several hundred square kilometers of land to China in exchange for forgiveness of debts that it could not service. Many have seen this as part of a sign of Beijing's ability and willingness to use it's muscle to engineer outcomes that are heavily skewed in its own favour.
Source: The New Silk Road