BANGLADESH INSTITUTE OF INTERNATIONAL AND STRATEGIC STUDIES

THE NEW NORMAL IN CHINA'S FOREIGN POLICY: IMPLICATIONS FOR BANGLADESH

Author: Rubel Molla

DOI Link: https://www.doi.org/10.56888/BIISSj2017v38n4a3

ABSTRACT

Since 1980s, China has experienced double digit growth, termed as ‘old normal’1but recently the scenario has changed and the growth has slowed down significantly. President Xi Jinping has declared this trend as the ‘new normal’ which has been labelled by the analysts as a new strategy of Chinese foreign policy. China’s ‘new normal’ is based on a ‘political economy’ approach which is, through greater integration, anticipated to ensure sustainable relations with various regions and economies through trade and investment. China is expanding geoeconomically and geopolitically. It is promoting new economic model and pioneering new institutions to promote broader connectivity across different regions. Chinese foreign policy is also designed in line with the new economic and geostrategic ambitions. So, a deeper understanding is crucial about China’s foreign policy and its geopolitical and economic expansion through the ‘new normal’ policy that the Chinese leaders are promoting now. It is considered as the ideological basis of China’s economic and strategic expansion. This paper is to see how China’s expansion or geoeconomic and strategic ambition in Asia is realising through this new policy. Considering ‘new normal’ from the liberal perspective, this paper argues that China’s ‘new normal’ will facilitate its integration with the global and regional economy providing China with geostrategic leverages in Asia. Besides, it argues that ‘new normal’ manifests the strategic significance of neighbouring countries like Bangladesh with several positive impacts. Hence, the paper analyses the impacts of ‘new normal’ on a developing country like Bangladesh and addresses different aspects of cooperation and challenges involved with the implementation of ‘new normal’ policy.