Bangladesh must rethink its long-standing Westward economic orientation and align itself with Asia’s rising economic centers, economist Rehman Sobhan said, arguing that the global balance of power has shifted decisively east. Sobhan said Bangladesh’s historic focus on the United States and Europe no longer reflects the realities of global trade, technology or capital flows. “We are living in a world in which power has relocated itself eastwards,” he said.
Sobhan described a world where China, India and Southeast Asia now anchor global growth, while Western economies struggle to maintain influence. He said the United States, in particular, is reacting to its diminished economic standing with political tools rather than market logic. Tariffs, technology restrictions and unpredictable trade actions, he argued, are symptoms of a superpower adjusting to the loss of its former dominance. “The tariff policies of the United States make very little economic sense,” he said, describing them as politically motivated responses to China’s rise rather than coherent economic strategy.
This shift, Sobhan warned, leaves Bangladesh vulnerable if it continues to rely on Western markets and preferences. He said Dhaka’s export strategy is still geared toward retaining access to the U.S. garment market and preserving least-developed-country privileges in Europe, even as Asia becomes the engine of global economic activity.
Sobhan urged Bangladesh to integrate more deeply with Asian supply chains, diversify exports and target the rapidly growing markets closest to its borders. Failing to pivot, he said, would leave Bangladesh aligned with “yesterday’s strategies” while the world’s economic center moves decisively away from the West.