Bangladesh’s engagement with China is not inherently a threat to India, nor should Dhaka be expected to subordinate its economic choices to New Delhi’s strategic preferences. Yet the decision to modernise Mongla Port with Chinese financing, at a time when bilateral relations are strained and Bangladesh is seeking continued preferential access to the Indian market, raises a larger question: can economic diversification succeed without undermining the regional relationships on which prosperity depends? The answer lies in distinguishing commercial opportunity from strategic calculation.

Bangladesh needs modern infrastructure, export markets and foreign capital. Chinese financing can help meet these requirements, provided projects generate sufficient returns and their contractual terms protect national interests. A loan carrying a relatively low interest rate is not automatically advantageous. Construction costs, future revenues, repayment obligations and the possibility of foreign-exchange pressures must all enter the calculation. Without transparency and independent scrutiny, an apparently attractive project can become a long-term fiscal liability. The experience of Sri Lanka’s Hambantota Port illustrates the dangers of allowing infrastructure ambitions to outrun commercial realities.

It does not........

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