Bangladesh-China Economic Relations: Wolf in the Sheep’s Clothing

Year 2020, Volume: 2 Issue: 4 (Çin Özel Sayısı), 51 - 82, 21.08.2020

Md. Mufassir Rashid

Abstract

ABSTRACT

In the 21st century, China has invested billions of dollars across the world. Bangladesh also took Chinese loans and aids to meet demand. Recently, this relation is declared as ‘strategic partnership’. One may think seeing this shift in relation, both parties may gain equally. But looking at the cases and recent developments in Chinese projects, skepticism rises that China is engaged in and prefers unequal trade relations with the relatively weaker states. Chinese project in Bangladesh also shows faulty payment, poor labor facility, impracticality and corruption. As a result, suspicion arises that, China is seeking more surplus in least cost from these projects. This is one of the core characteristics of mercantilism. Authoritarian ‘Communist’ China’s promoting liberal economy also contradicts with ideological position. And creates question, whether China is an ideological state or a mercantile state void of any ideology? This paper will try to understand Bangladesh-China economic relations from neo-mercantilist perspective by looking at the transformation of China, where the root of Chinese neo-mercantilism is lying. It will also try to understand how mercantilism, an old wolf is hiding under the clothing of a sheep named ‘development’ and doing what it did openly in its peak time.

Keywords

Mercantilism, Neo-Mercantilism, China, Debt-trap

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