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China has a lot more to lose if Pakistan collapses. For one, they will have to deal with greatly increased fundamentalist violence in Sinkiang, which I think is a big reason why CCP supported Pakistan in the first place (it's a much bigger deal than getting Gwadar).If Pakistan survives: Then we have got ourselves a very loyal ally, who are willing to offer up their country to Chinese troops/ports/bases at the drop of a hat. Then of course the most important point, our strategic interests involving Gwadar, them being a represenative of China in all Muslim forums, pipelines, etc.
If Pakistan fails: Then we lose our diplomatic/economic/strategic investment. Which would be quite a severe blow.
The Chinese government apparently thinks Pakistan will survive, and they are normally quite risk-averse.
I personally, don't see Pakistan disappearing from the world map.
No one saw East Pakistan dissappearing in 1971 either, but surprises tend to happen!