China Seeks Closer Ties With Bangladesh

In News

China pitches for closer ties with Bangladesh.

In-Detail

• China and Bangladesh celebrated the 45^th anniversary of the establishment of bilateral diplomatic relations.
• China is ready for closer ties with Bangladesh to jointly promote the construction of hits multi-Billion dollar Belt and Road Initiative (BRI).
• This will make a strategic partnership of the two countries to new heights.
• With $26 billion Chinese investments and $38 billion funding commitments Bangladesh is one of the largest recipients of China’s massive infrastructure financing.
• China has offered zero-tariff treatment to 97% of Bangladesh’s exports.
• Now it added 5,161 items to the existing list of 3,095 duty-free products.
• The Belt and Road Initiative (BRI) seeks to build rail, maritime and road links from Asia to Europe and Africa in a revival of ancient Silk Road trading routes.
• The BRI is the major bone of contention between India and China.
• One of the portions passes through Pakistan occupied Kashmir.
• China initiated over $60 billion worth projects in Pakistan as part of the China Pakistan Economic Corridor (CPEC), a part of BRI.
• China has stepped up its huge infrastructure investments in Nepal, Bangladesh, Sri Lanka and the Maldives.
• The BRI is China’s top priority as it aims to firm up China’s global influence.
• The initiatives have attracted allegations from the US of debt diplomacy.
• Sri Lanka handed over its Hambantota Port to a state-run Chinese firm in 2017 for 99 years lease in a debt swap amounting to $1.2 billion.
• Malaysia has deferred several projects under the BRI which cited cost revaluation.
• The closeness of China and Bangladesh can be seen in the way both the countries have worked jointly to fight COVID-19. China had sent a medical team to Bangladesh.

Unnerving India

• It seems China is encircling India with a string of economic partnerships.
• The String of pearls is a concept going around in the diplomatic circles as a strategy by China to counter India’s rise in the region.
• As part of the strategy, China would have close economic and military relations with Indian neighbour countries.
• Though the Chinese deny any such strategy, the activities of China in the region lends weight to the strategy.
• China has very close relations with Pakistan and Nepal.
• It has brought Bangladesh, Sri Lanka and the Maldives under its economic influence by financing big-ticket projects in these countries.
• Off late, countries that took Chinese finance are realising the burden of the debt they took.
• India on the other hand is slippery sloppy when it comes to relations with its neighbourhood.
• As recently as in September 2020, when the domestic market necessitated India to ban onion export, Bangladesh raised concern. Indian domestic politics, at times, cause a spoilsport in foreign policy.
• Nepal, with the support of China, is claiming a region of India to be it’s own.
• Sri Lanka, embroiled in the Chinese debt is looking for alternatives and India is playing a good neighbour role with that country.
• Until recently, Maldives was under the influence of China and acted against Indian interests. The current democratically elected government is in favour of India, as such the Indian government has announced a credit line for the development of the island nation.
• India already lodged a strong protest against the CPEC in PoK.
• Militarily, the standoff between India and China in Ladakh is unnerving India and the region as a whole.
• Predicting the Chinese intentions is becoming a challenge.