The main agenda of the World Bank and similar agencies is to carry out programmes to control and shape policy frameworks or push for structural changes in the countries seeking loans. With various conditions and terms, they try to change the direction of the economies to make more space for big business groups.
Why Bangladesh has been ignoring India’s warnings about the Chinese ‘debt trap’
Why Bangladesh has been ignoring India’s warnings about the Chinese ‘debt trap’
China’s Belt and Road Initiative has become almost synonymous with debt trap diplomacy. It’s a half-baked idea that created grounds for unfounded speculation. Fishermen prepare their nets on a beach at Cox s Bazar. | Ata Adnan, @ata.m.adnan.
Many in South Asia view major foreign powers (like China) and changes in status quo (like new economic relationships) with caution.
A history of colonialism and non-alignment are shared experiences across the region. These experiences contribute to a principled worldview, which does not readily accept terms defined by realpolitik, and prefers to redefine issues based on precedent.