Impact of the Belt and Road Initiative on China-Bangladesh Economic Relations


Abstract views: 68 / PDF downloads: 25

Authors

  • Moonmoon Mashrafy Assistant Professor, Department of Political Science, Jagannath University, Dhaka, Bangladesh. Email: kmoonju@gmail.com https://orcid.org/0009-0004-7906-4919 https://orcid.org/0009-0004-7906-4919
  • Rahmat Ullah Assist. Prof. Dr., Department of Political Science and International Relations, Istanbul Gelisim University, Istanbul, Türkiye. rullah@gelisim.edu.tr https://orcid.org/0000-0002-1548-5966 https://orcid.org/0000-0002-1548-5966

DOI:

https://doi.org/10.5281/zenodo.12594730

Keywords:

Belt and Road Initiative, Bilateral relationship, Economy, Investment, Trade, Loan.

Abstract

Currently, China-Bangladesh relations are a burning issue in South Asian politics. The friendship between China and Bangladesh followed a different pattern at the beginning. The relations have gradually increased recently, and the Chinese connectivity project, the Belt and Road Initiative (BRI) has played a significant role in establishing trust and faith. This article explores the tangible effects of Bangladesh's involvement in the Belt and Road Initiative (BRI) on its economic relations with China. The study focuses on three key aspects: investment, trade, and loans. The data for this work was collected from reports provided by the Bangladesh Bank. The study concludes that participation in the BRI strengthens the bilateral relationship between China and Bangladesh, primarily demonstrated through increased investments and loans. Furthermore, the trade relationship is impacted, with Bangladesh witnessing a more rapid improvement in imports from China than its exports, leading to a trade deficit.

References

Ahmed, C. M, 2021. Analyzing the Future of the Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC) and its Impact on Bangladesh's Trading Eco-System (Internship Report), University of Dhaka.

Ahmed, Z, 2019. Is Bangladesh falling into a Chinese 'debt trap'? https://www.dw.com/en/is-bangladesh-falling-into-a-chinese-debt-trap/a-49556829.retrieved on 9.07.2023.

Alam, M. S, 2019. China-Bangladesh relation: A quest for Bangladesh's integrating into Sino Myanmar connectivity, Bangladesh Journal of Public Administration, 27:1-2.

Ameyaw-Brobbey, T, 2018. The Belt and Road Initiative: Debt trap and its implication on international security, Asian Journal of Multidisciplinary Studies, 1(2):73-81.

Baghernia, N., & Meraji, E, 2020. Understanding China's relationship with Bangladesh. Cenraps Journal of Social Sciences, 2(3):345-353. http://journal.cenraps.org/ retrieved on 7.7.2023.

Chakrovorty, A, 2020. China’s Soft Power in Bangladesh: A Comparative Studies, American Journal of Social Sciences and Humanities, 5: 128-140.

Datta, S, 2021. Bangladesh and Belt Road Initiative: Unfolding possibilities, National Security, 4(3):277-295.

Ehsan, S. M. A, 2020. What does Belt and Road initiative connote for Bangladesh: A window of opportunities or potential challenges? Journal of Kolkata Society for Asian Studies 6(2):27-49.

Ejaz, K. and Jamil, F, 2021. Belt and Road Initiative of China: Implications for South Asian states, South Asian Studies, 36(2):351 – 366.

Fakir, M. G. S. and Islam, M. S, 2019. Hydraulic and Hydro-electric projects in GBM basins: Bangladesh's miseries, SDG and BRI towards a sustainable regional community, Green University Review of Social Science, 5(2):1-24.

Hossain, S. M. and Hosoe, N, 2020. Foreign direct investment in the readymade garment sector of Bangladesh, The Bangladesh Development Studies, 43(1/2):1-34.

Hossain, D. and Islam, M. S, 2021. Understanding Bangladesh's relations with India and China: Dilemmas and responses, Journal of the Indian Ocean Region, 17(1): 42-59.

Haldar, S, 2018. Mapping substance in India's counter-strategies to China's emergent Belt and Road Initiative, Indian Journal of Asian Affairs, 31(1/2):75-90.

Hurley, J., Morris, S. and Portelance, G, 2019. Examining the debt implications of the Belt and Road Initiative from a policy perspective, Journal of Infrastructure, Policy and Development, 3(1):139-175.

Islam, M. T, 2021. Bangladesh-China bilateral relations: Influences of geopolitics and Rohingya crisis. https://www.tbsnews.net/thoughts/bangladesh-china-bilateral-relations-influences-geopolitics-and-rohingya-crisis-216052. Retrieved on 8.7.2023.

Islam, S, 2020. China's so-called ''debt trap'' and Bangladesh. https://thefinancialexpress.com.bd/views/opinions/chinas-so-called-debt-trap-and-bangladesh-1603292664.visited on 9.07.2023.

Islam, S, 2023. Bangladesh urges China loan tweaks amid scrutiny of BRI bailouts. https://asia.nikkei.com/Politics/International-relations/Bangladesh-urges-China-loan-tweaks-amid-scrutiny-of-BRI-bailouts2. Retrieved on 8.7.2023.

Jain, R, 2018. China's economic expansion in South Asia, Indian Journal of Asian Affairs, 31:21-36.

Kabir, H, 2021. China's lending to Bangladesh surges. https://thefinancialexpress.com.bd/economy/bangladesh/chinas-lending-to-bangladesh-surges-1611975747. Retrieved on 9.7.2023.

Karim, M. A. and Islam, F, 2018. Bangladesh-China-India-Myanmar (BCIM) economic corridor: Challenges and prospects, The Korean Journal of Defense Analysis, 30 (2):283-302.

Khan, H. U, 2020. China, the emerging economic power: Options and repercussions for Pak–US relations, International Politics, 1-26. https://doi.org/10.1057/s41311-020-00265-1

Khan, I. I, 2020. Belt and Road Initiative (BRI) and China's love for Bangladesh: What Bangladesh could actually expect from it, Diverse Asia, 3(2):1-7.

Khatun, F. and Saadat, S. Y, 2021. Belt and Road Initiative: What are Bangladesh's interests? (Working Paper No.137). Dhaka: Centre for Policy Dialogue (CPD). https://cpd.org.bd/wp-content/uploads/2021/08/Belt-and-Road-Initiative-What-Are Bangladeshs-Interests.pdf.retrieved on 5.7.2022.

Kurlantzick, J, 2006. China’s charm: Implications of Chinese soft power. Carnegie Endowment Policy Brief, Carnegie Endowment for International Peace, 47: 1-7.

Maliszewska, M. and Mensbrugghe, D, 2019. The Belt and Road Initiative: Economic, poverty and environmental impacts (World Bank Policy Research Working Paper No. 8814). World Bank. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3369989. retrieved on 5.7.2022.

Poluakan, A., Samuel, J., Mitidieri, L., Mathur, N. and Vulcano, R, 2021. Chinese mega projects in Bangladesh. Global Human Rights Defense, Bangladesh division. https://ghrd.org/wp-content/uploads/2021/11/finalreview_GHRD.-Chinese-mega projects.pdf.retrieved on 5.6.2022.

Saimum, R, 2020. The prospect of Belt and Road Initiative in the context of Bangladesh, China Report, 56(4):464-483.

Sarker, M.N.I., Q. Cao, M. Wu, M.A. Hossin, G.M. Alam and R.C. Shouse, 2019. Vulnerability and livelihood resilience in the face of natural disaster: A critical conceptual review, Applied Ecology and Environmental Research, 17(6): 12769–12785. Available at: https://doi.org/10.15666/aeer/1706_1276912785.retrieved on 5.6.2022.

Sarker, M.N.I., M.A. Hossin, J. Anusara, B. Chanthamith and N. Kumar, 2018. Practices of low carbon economy in China: Challenges and opportunities for economic development, Low Carbon Economy, 09(1):18–32.Available at: https://doi.org/10.4236/lce.2018.91002.retrieved on 10.6.2022.

Sarker, M.N.I., M.A. Hossin, A.N.K. Frimpong and Y. Xiaohua, 2018. Promoting information resource management for egovernment through big data approach, Proceedings of the 2018 International Conference on Information Management & Management Science - IMMS, 18: 99–104.

Sarker, M.N.I., M.A. Hossin, Y. Hua, M.K. Sarkar and N. Kumar, 2018. Oil, gas and energy business under one belt one road strategic context, Open Journal of Social Sciences, 6(04): 119-134.Available at: https://doi.org/10.4236/jss.2018.64011.retrieved on 5.7.2023.

Sarker, M.N.I., M.A. Hossin, Y.X. Hua, J. Anusara, S. Warunyu, B. Chanthamith, M.K. Sarkar, N. Kumar and S. Shah, 2018. Low Carbon City development in China in the context of new type of urbanization, Low Carbon Economy, 9(1): 45-61.Available at: https://doi.org/10.4236/lce.2018.91004.retrieved on 6.7.2023.

Sarker, M.N.I., M.A. Hossin, W. Min and M. Aktaruzzaman, 2018. Poverty alleviation of rural people through good governance in Bangladesh,The Journal of Social Sciences Research, 4(12): 547-555.

Sarker, M.N.I., M.A. Hossin, M. Wu, G.M. Alam, M. Shafi, A.K. Pervez and A. Rahman, 2018. Determinants and pattern of urbanization and counter-urbanization: The case of South Asia. The Journal of Social Sciences Research, 4(12): 802-812.

Sarker, M.N.I., M.A. Hossin, X. Yin and M.K. Sarkar, 2018. One belt one road initiative of China: Implication for future of global development. Modern Economy, 09(4): 623–638. Available at: https://doi.org/10.4236/me.2018.94040. retrieved on 9.7.2023.

Sarker, M.N.I., M.S. Islam, M.A. Ali, M.S. Islam, M.A. Salam and S.H. Mahmud, 2019. Promoting digital agriculture through big data for sustainable farm management, International Journal of Innovation and Applied Studies, 25(4): 1235-1240.

Sarker, M.N.I., M.Z. Rahman, Q. Cao and Z. Xu, 2019. Impact of small entrepreneurship on poverty alleviation and sustainable livelihood of street vendors, International Journal of Innovation and Applied Studies, 25(4): 1241-1254.

Sarker, M.N.I., M. Wu, G.M. Alam and M.S. Islam, 2019. Role of climate smart agriculture in promoting sustainable agriculture: A systematic literature review, International Journal of Agricultural Resources Governance and Ecology, 15(2): 1–15.

Sarker, M.N.I., M. Wu, R. Liu and C. Ma, 2019. Challenges and opportunities for information resource management for Egovernance in Bangladesh. In J. Xu et al. (Ed.), Proceedings of the Twelfth International Conference on Management Science and Engineering Management: Lecture Notes on Multidisciplinary Industrial Engineering. pp: 675–688.

Sharma, B.P. and R.S. Khatri, 2019. The politics of soft Power: Belt and road initiative (BRI) as Charm influence in South Asia, China and the World, 2(01): 1950002. Available at: https://doi.org/10.1142/s2591729319500020.

Sazzat, H, 2021. Is Bangladesh at risk of falling into the Chinese debt trap? Daily Star. https://www.thedailystar.net/views/opinion/news/bangladesh-risk-falling-the chinese-debt-trap-222439. retrieved on 9.7.2023.

Wang, C., & Sharma, V, 2021. India's RCEP dilemma with China: Beyond the legal texts. Pacific Focus, 36(1):40-62.

Wignaraja, G., Panditaratne, D., Kannangara, P., & Hundlani, D, 2020. Chinese investment and the BRI in Sri Lanka. (Research Paper) Asia Pacific Programme. London: Chatham House. https://www.chathamhouse.org/sites/default/files/CHHJ8010-Sri-Lanka-RP-WEB-200324.pdf.retrieved on 10.7.2022.

Downloads

Published

2024-06-15

How to Cite

Mashrafy, M., & Ullah, R. (2024). Impact of the Belt and Road Initiative on China-Bangladesh Economic Relations. International Journal of Social, Political and Economic Research, 11(2), 165–179. https://doi.org/10.5281/zenodo.12594730

Issue

Section

Articles