Ironically in the case of Bangladesh, geoeconomics
has turned out to be an enemy, as the latest colour revolution shows. For the
last two decades the country demoed its ability to become a tiger economy and
was cruising towards it. Then the tragedy struck:
The regional power players both China & India
are willing bury their mutual mistrust
in ensuring Bangladesh remains a stable state in both politics and
economics, with the type of strategic autonomy that neither displeases one or
the other. But for the powers to be, this is just an anathema because neither
USA nor UK latter one time colonial master, wish to allow Bangladesh pursuing
independent policy in international relations and in geoeconomics power
spectrum. Here are the key areas in terms of geoeconomics relevance that
dictated the latest regime change:
Being a riparian country, Bangla has the luxury of
the combined confluence of Ganges, Brahmaputra and Meghana rivers that form
deltas in the south and south eastern low lands before washing into the Bay of Bengal.
The famous line in the poem titled “The Rime of the Ancient Mariner” by Samuel
Taylor Coleridge goes as 'Water, water everywhere, nor any drop to
drink’ meaning being surrounded by a resource that one cannot benefit
from.
Bangla has different takes as regards to water; it is the big resource and equally at times it can be a big curse when India decides to open flood gates in upstream located within her territory. In addition, India has control over sharing of water resource primarily in Teesta River 55:45 and the Tipaimukh Dam Project constructed over the Barak River. During the tenure of the ousted leader Sheikh Hasina this matter was generally settled in favour of Bangla.
A population of 170 million living in an area of 57,320 sq. miles appears to be congested at the seams. Yet the Bangla economy fared miraculously by exporting jute & marine products, apparel, leather, pharma and many others. Bangla scored a significant score in her GDP in both nominal and purchasing Power Parity (PPT) segments. As regards to nominal terms it amounted to USD 455 Billion in 2023 giving a per capita of USD 2,688. GDP growth rate sailed annually between 5.5 to 7.1%. Besides the GDP figure ranked 35th in the global list. On the other hand GDP in PPP ran a colossal USD 1.619 Trillion leading to an enviable 25th rank globally. What is more, Bangla is second only to India in terms of economic performance in the South Asian Region.
Minerals contribute in a big way in terms of global geoeconomics. Proven reserves of oil at 28 Million barrels is just the tip of the iceberg. Known natural gas reserves is estimated to be 7.25 Trillion Cubic feet (Tcf). This is mainly inshore or nearby. Offshore natural gas reserves are yet to be estimated in the extended economic zone of the Bay of Bengal.
To crown it all is the strategic naval position Bangla enjoys in the vast ocean fanning out of her coastline that raises eyebrow. Saint Martin Island is only one such area coveted by global powers. There are plenty of natural or man–made islands that can be developed to hold sway over the Bay of Bengal. The tragic part is that such geoeconomics, like a knife can cut both ways. Result: Sheik Hasina was sacrificed in the altar of global geoeconomics conflagration!
Cheers!
Muthu Ashraff Rajulu
Business Strategist
Mobile: + 94 777 265677
E-mail: cosmicgems@gmail.com
Blog: Business Strategist
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