CHINESE ECONOMIC GROWTH AND ITS FALLOUT ON SOUTH ASIAN COUNTRIES
Keywords:
CHINESE ECONOMIC, FALLOUT, SOUTH ASIANAbstract
China is presently the second largest economy of the world with Gross Domestic
Product (GDP) 8.7%, the highest growth in the world. Since 1949, suitable
reforms, inflow of Foreign Direct Investment (FDI), large manufacturing sectors,
consumption of own energy resources, huge cheap labour force and favourable
balance of international trade contributed to her such growth. By 2025, China
is likely to become the world’s largest economy and surpass USA. For keeping
steady GDP, her demand of energy would also rise exponentially and China
will need to secure Sea Lines of Communications (SLOC) through Pacific and
Indian Oceans that brings in the context of her strategic relations with and
economic fallout on the South Asian countries. Taking India onboard, China
would strengthen her relations with all South Asian countries through trade
and investments for her secured energy and continued supply of raw materials.
In 21st Century, economic interest gets priority over the ideology. Bangladesh
being geographically located at an important place of South Asia can benefit from Chinese economic growth in the fields of exploration of mineral resources,
interstate connectivity and development of Bangladesh’s Deep Sea Port. The
trade deficit between Bangladesh and China may also be minimized by Chinese
investment. For this, it is imperative that the road connectivity to China through
Myanmar or India must be done as a priority. Bangladesh should maintain a
concrete defence policy with both India and China and modernize her Armed
Forces as smart, professional and modern one with the assistance of China.
Bangladesh should also strive to strengthen her relation with Myanmar and reap
economic benefit from its closest neighbour as well as reduce military threat. It is
hoped that such developments would facilitate resolving Bangladesh’s maritime
boundaries with her neighbours and make Bangladesh a manufacturing and
exporting hub for Asia.
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+88 02 8031111 Ext. 3299
