Chinese Soft Power in Bangladesh: Debt Trap or Shared Interests?

Abstract

Power and influence are important concepts in world politics. In this process, every country tries to maximize its interests and influence over other countries. The present world order, soft power, plays an important role in influencing others’ policy-making processes in one’s favor to establish a world order. This paper aims to give an overview of Chinese soft power and find out whether Chinese soft power is creating a debt trap or becoming a shared interest for both Bangladesh and China. Based on secondary sources, the paper has found that although Chinese soft power, especially its growing investment in Bangladesh, is a part of establishing its influence, it is a shared interest rather than a debt trap. Different infrastructure development projects are opportunities for Bangladesh, as that will open the door to economic development if Bangladesh can effectively utilize them, although China’s investment can put Bangladesh’s economy under pressure. However, economic and political instability, fragile institutions, growing corruption, leadership crisis, etc. are more harmful to its economy and can lead to an economic crisis.