Abstract: It is always a risky affair, especially for a weak state to strike the right balance while dealing with two great powers having serious conflicting interests in a particular region. For a country like Pakistan which remains dependent on foreign aid, running an independent foreign policy seems quite difficult. While Pakistan’s relations with China continued to remain smooth throughout history, its relations with the United States has been more of a roller coaster than a smooth ride but still both could never be too apart from each other because of various compelling reasons. Currently, China and Pakistan are extensively engaged in promoting their mutual economic and strategic interests that go against the U.S. interests. Therefore, in the case of a possible conflict between the United States and China, Pakistan might be trapped in a catch-22 because it cannot afford to infuriate the United States beyond certain limits. In such a trap, staying neutral might be even riskier. Slow and steady change in the status of Gilgit–Baltistan beyond a certain level for promotion of the China–Pakistan Economic Corridor (CPEC) would also be a serious trap. Pakistan could afford to lose economic benefits of the CPEC but it cannot afford to give up its claim over Kashmir which remains the “lifeline” for its survival. Pakistani Generals fighting on exterior fronts must therefore, make smart moves to ensure that at no stage should Islamabad be compelled to put all its eggs in one basket. Full text available here.