In 2023, Pakistan witnessed anti-government protests leading to an attack on an army garrison and the residence of the corps commander after the arrest of former Prime Minister Imran Khan. The economic distress in the region has been attributed to China’s lending practices, as several countries face high external debt ratios due to ties with China.
The narrative of China’s debt-trap diplomacy neglects the economic mismanagement by host governments. Social media and external shocks like global protectionism exacerbate the situation in South Asian economies, affecting industries like tourism, textiles, and remittances.
The rise of social media influencers and demographic challenges, especially high youth populations, present obstacles to economic growth. Bangladesh’s recent unrest highlights underlying structural issues in emerging economies.
The “rise of the rest” narrative in non-Western countries like Bangladesh reflects a shifting global economic landscape, but significant challenges remain. This unrest in Bangladesh serves as a warning for broader trends in South Asia and the Global South.
Chietigj Bajpaee, a senior fellow at Chatham House, discusses the complexities of economic development in these regions.
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