In the aftermath of the Global Financial Crisis of 2007, growth slowed down in the economy of China, as well as in the world economy. In response to this, China unveiled a grand strategy of opening up to the world. The centerpiece of this strategy was the Silk Road Economic Belt and the 21st Century Maritime Silk Road, later known as the Belt and Road Initiative. As a truly global endeavor, the Belt and Road Initiative has ramifications far beyond the borders of China. Bangladesh has been part of the Bangladesh-China-India-Myanmar Economic Corridor, which was subsequently included as one of the six economic corridors under the Belt and Road Initiative. Hence, it is important to investigate how the Belt and Road Initiative affects Bangladesh. This study analyses the Belt and Road Initiative from Bangladesh’s perspective and aims to uncover what interests the country may have in participating in this initiative. Bangladesh’s role in the Bangladesh-China-India-Myanmar Economic Corridor is briefly discussed, and the five types of connectivity proposed under the Belt and Road Initiative are examined from Bangladesh’s viewpoint. The possible challenges related to the Belt and Road Initiative which are pertinent to Bangladesh are highlighted, and the Chinese response to these challenges is also noted. A number of recommendations are made for guiding future research on the topic.
Authors:
Dr Fahmida Khatun, Executive Director, CPD
Syed Yusuf Saadat, Senior Research Associate, CPD
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