US EditionBangladesh Tilts Toward China as Its Lead Economic Partner
- Economist and Nobel laureate Muhammad Yunus, after becoming the chief adviser to Bangladesh's interim government following a student-led uprising in August 2024 that ousted Sheikh Hasina, made his first state visit to China from March 26 to 29.
- The visit occurred amidst souring relations between Bangladesh and India after Hasina's ouster, as India had been the biggest benefactor of her government, and marked a shift towards China to maintain economic growth and regional influence.
- During his visit, Yunus secured $2.1 billion in Chinese investments, loans, and grants, primarily for establishing a Chinese Industrial Economic Zone with nearly 30 Chinese companies pledging $1 billion, and China pledged to support Bangladesh in repatriating over a million Rohingya refugees.
- Chinese President Xi Jinping met with Yunus and expressed Beijing's willingness to elevate bilateral cooperation, while China offered duty-free access to 99 percent of Bangladeshi products until 2028 and is considering reducing interest rates on loans, leading Yunus to praise China's water management achievements and seek assistance for a 50-year master plan.
- Despite Modi sending a letter lauding bilateral ties between India and Bangladesh, Yunus' request for a meeting with Modi to reset relations has not received a positive response, and trade organisations in Tripura have urged the central government to address the escalating trade deficit with Bangladesh since Yunus took office, signaling a growing reliance on China and a strategic pivot away from India.
12 Articles
12 Articles
India-Bangladesh Relations at a Crossroads: The Fallout of Sheikh Hasina’s Exile and China’s Growing Influence
With Sheikh Hasina in exile and Bangladesh’s interim government strengthening ties with China, India-Bangladesh relations have reached their lowest point in decades. As Delhi hesitates to engage, Dhaka moves ahead with strategic agreements in Beijing. Can India recalibrate its approach, or will its past alliances define the future of South Asian diplomacy?
Yunus refers to India's northeast states in bid to lure China; eyebrows raised
Muhammad Yunus, head of Bangladesh's interim government, referred to the seven states in northeast India, seeking to attract Chinese investment to his country. He positioned Bangladesh as the "only guardian of the ocean" and said China could use it as a gateway for economic expansion. Eyebrows were raised at his reference to "landlocked" Indian states during his China visit.
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