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The events of August 5 turned Bangladesh from a development model to unstable entity. A variety of players have been stirring trouble in the country, from within and without. Great powers and neighbours, NGOs and the diaspora, Islamist groups and armed forces. All these are entangled in the U.S.-China geopolitical rivalry that Bangladesh seems to be caught in.
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Bangladesh’s economy has been in distress for some time and is not doing as well as assumed. This could have been one of the factors that drove the protests and the subsequent coup.
Courtesy: FinShots
The term Global South is no less ambiguous today than when it first originated in the 1960s. This time though, it is a big tent that accommodates all non-West aspirations, from the G77 to the Non-Aligned Movement to the Third World. It is a geopolitical fact rather than a geographical demarcation whose appeal lies in its ability to get to the heart of shared priorities and goals.
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Asian nations like Sri Lanka have seen a rush of Russian and Ukrainian tourists over the last two years. They discover salubrious climes and overstay their visas to start small businesses. It has helped Sri Lanka boost tourism after its 2022 debt default but also created economic problems for locals. It is necessary to identify trade-offs between economic benefits and security threats associated with extended-stay tourism.
Courtesy: Sputnik India
Pakistan’s peripheral regions have long been treated as colonies to benefit the Punjabi core. This neglect is facing a vigorous pushback, in the form of peaceful protests and violent resistance. The economic crisis has exacerbated tensions in Baluchistan, Khyber Pakhtunkhwa and Gilgit-Baltistan, which remain poor despite abundant natural resources.
Courtesy: Economy
The long-delayed Iran-Pakistan pipeline has put Pakistan in yet another bind of its own making. Abandoning the project will expose it to Iranian penalties, while completing it will violate the sanctions imposed by the U.S., its financial benefactor, and its other patron Saudi Arabia which competes with Iran for West Asian leadership.
Courtesy: Suresh Mehta and 'Fragrant Folios: The Palanpur Story' by Jitendra C. Mehta and Amrit Gangar.
In Antwerp's global diamond exchanges that trade in rough and polished stones, the Gujarati-speaking Palanpuri Jain merchants are known as intrepid businessmen with a reputation for keeping their word. These traits has enabled them to live and work amongst Hassidic Jewish diamantaires and cutters-polishers who dominated this market. They carved a niche for themselves in small diamonds. Bombay played a key role in their success.
Courtesy: The Hindu
Long treated by Pakistan as a colony, Balochistan has seen several high-profile attacks by locals against Chinese interests. The growing unrest in the region reflects Islamabad’s failure to address key development issues. With less than 10% of this year’s federal budget earmarked for development, it appears that the only means of quelling the violence is more repression.
Courtesy: Hindustan Times
South Asia requires resilient and cost-effective regional supply chains. This can be achieved through Indian investment, fostering local linkages while reducing dependency on Chinese financing of regional partners. A new approach enhances India's regional influence, creating a win-win scenario for the entire South Asian neighbourhood in a changing global landscape.
Courtesy: Reuters
Sri Lanka has demonstrated signs of recovery following the stabilising policies implemented by the Wickremesinghe government. However, the road ahead for economic recovery is long, with risks associated with the upcoming Presidential elections, geopolitical tensions and debt restructuring.