Be smart while dealing with China

Bangladesh will have to deal with China intelligently since for the first time in its history, China has been fully engaged with the world and the global power may rise as the world’s largest economy, said Belal Ehsan Baaquie, a professor at International Centre for Education in Islamic Finance in Kuala Lumpur, Malaysia yesterday.

“The impact of China on us is basically creating a new space [for us] that did not exist before. That is a good development. We have to be intelligent while using the opportunity,” said the noted physicist and social researcher.

He said this while addressing a memorial lecture in honour of Quazi Nooruzzaman Bir Uttam, commander of sector 7 during the Liberation War, at Social Science Building of Dhaka University. Quazi Nooruzzaman Trust organised the lecture.

Among others, distinguished personalities and academics were present at the lecture titled “Modern China and Chinese Dynasties: Unification and Fragmentation”.

During his lecture, Baaquie, a professor of quantitative finance, said examples of Malaysian Prime Minister Dr Mahathir Mohamad should be followed while dealing with China.

“You don’t make China your enemy. You get a better deal. They know that USA is waiting to grab the opportunity… Japan will also do the same… We must play the game,” he said.

Prof Baaquie said China’s One Belt, One Road initiative is a reflection of its strength.

“China’s presence in the world is bringing about a qualitative change in the architecture of international economics, finance and geopolitics. With consolidation of the Red Dynasty, and given the scale and depth of China’s power, existing global system dominated by West is coming to an end,” he said.

Baaquie, who received training in theoretical physics at California Institute of Technology and Cornell University in New York, specialising in quantum field theory, said the last 20 years of China’s rapid growth has led to modernisation of its economy, expansion of scientific and technological foundations and development of human capital.

“China has also consolidated and stabilised its political system -- emerging as one of the most powerful nations,” said Baaquie, who was a professor of theoretical physics at National University of Singapore for 32 years.