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A Critical Study on Chinese Importance in Sri Lankan Economic Development International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue XI, November 2020 | ISSN 2321–2705 Sino – Lanka Relations: A Critical Study on Chinese Importance in Sri Lankan Economic Development Abdur Rahman Mohammad Thamim1, Md Mustafijur Rahman2, Abu Rushd Muhammed Shaikh3, Mohammad Shakhawat Hossain4 1Lecturer, Department of International Relations, Bangladesh University of Professionals (BUP), Bangladesh 2M.Phil Researcher, University of Chittagong, Bangladesh 3M. Phil Researcher, University of Dhaka, Bangladesh 4University of Dhaka, Bangladesh Abstract: China as an economic giant, desires for strategic the past three decades starting in 1978. 2 At the period interest in Asian countries to counter Indian rising. Sri- Lankan economic reforms were introduced, both nations have faced geopolitical location attracts China so that it can create a new similar standards of economics crisis, particularly, low hegemonic dimension in the Indian Ocean. This research aims industrial and agriculture production, low per capita income to critically analyze to what extend Sri Lanka is more important and social conditions. These frustrating conditions influenced to china and how china influence Sri Lanka’s economic development. Besides this paper focuses on how political, and helped the dramatic restructuring of their economies. It is economic and strategic interests of the China works behind to the rise of China more than that of India that has become a make Sri Lanka more and more dependent on them with the major concern for major powers like the United States, the economic investment to Lankan projects and trade activities. To European Union (EU), and Japan. Economically, China has find the answers, it aims to convince the changes in economic witnessed an annual growth rate of more than 10 percent in conditions in Sri Lanka due to the power and investments of the last two decades. China is a prominent economy in the China as their strategic plans. Chinese importance towards world and has also emerged as the largest trading partner of Lankan economy is discussed with neo-realism theory, realism the US, EU, India and Japan. Due to the growing Chinese and liberalism with the support of critical theories in influence in Sri Lanka, the economic cooperation of the International Relations. Relating Chinese strategy in Sri Lanka, economic development projects highlighted by China, power Indian Ocean island nation assumes increasing importance as expansion in the Indian Ocean and Chinese hiding intention a regional trading hub in one of the world’s busiest important aspects are correlated in this paper. In this process, several and sea lanes. Mean time in the recent years, Beijing has critical areas have also been highlighted and connected. invested heavily in Sri Lanka’s infrastructure as part of its- “string of pearls” policy aimed at establishing a naval Keywords: Realism, Belt and Road Initiative, String of pearls, Hegemony, Strategic culture, Investment policy presence across South Asia by building ports and other facilities in neighboring countries – including Pakistan, I.INTRODUCTION Bangladesh, and Myanmar. 3 The expansion is part of its (OBOR) “One Belt, One Road” project, a new trade route n the present world, corruption and political instability have linking China with the West, underpinned by billions of a negative effect on growth and development. Openness, I dollars of infrastructure investment. Ultimately Sri Lanka share of investment in GDP, investment in transport and became a turning point of Chinese power expansion and gain communication, development of financial system and huge scale development projects in economic aspects. technology diffusion and innovation are considered as one of the governance-related factors which positively impact on the II. RATIONALE OF THE STUDY growth. Market distortions, inflation, budget deficits and share Sri Lanka becomes one of the most important strategic of government spending in GDP, on the other hand, are geographical locations in the South- Asia. As a Regional considered as the second category of variables which reflect superpower, China influenced Sri Lanka in many ways. the institution and negatively affect economic growth. All of Providing foreign aid is something that makes Sri Lanka much the evidence shows that effective economic policymaking has more dependent on China which ultimately can influence for to be coupled with strong institutional arrangements to sustain 1 fixing foreign policy of Si Lanka. So a careful and critical economic growth and social development. China and Lanka look at China’s motivation behind investing and showing have undertaken smooth extensive economic relations during interest in Sri Lanka would be highly helpful in understanding 2 ibid 1Jayathilake, M. B. (2015). Economic Reforms and Growth Experiences: A Comparative Study of China and Sri Lanka. International Journal of 3Singh, G. (2018). Evolution of China - Sri Lanka Relations,Retrieved from, Management Science and Business Administration. 5(1), 31-37.Doi: https://www. Evolution-of%20China-SriLanka-Relations.pdf.(Page-3).( 10.18775/ijmsba.1849-5664-5419.2014.15.1003 Accessed on 1838, 18 September 2019) www.rsisinternational.org Page 209 International Journal of Research and Scientific Innovation (IJRSI) | Volume VII, Issue XI, November 2020 | ISSN 2321–2705 the role of these regional power, and also many critical issues magazines, websites, and articles. Various statics and in international relations. Moreover, it will definitely help the definitions have been mentioned and compared after countries and policy makers to give a second thought to deal observing the literature materials mentioned above. Therefore with China. Unfortunately, island nation has already it’s easy to identify economic development of Sri Lanka and witnessed the traps of the Chinese political, economic and how Chinese importance influenced that development strategic plans. procedure. At the end of the chapter researcher has noted down the significance of this study after comparing various III. OBJECTIVE OF THE STUDY research and analysis done by different authors Views. The basic purpose of the research paper is to investigate the A. Chinese contribution to the economic development and current nature or Lanka’s economy and importance of China growth through bilateral relations. It focused to examine economic reforms in Sri Lanka and what are the Chinese strategic and According to the foreign policy of china which they have economic plans towards the island nation. It based on the open to the outside developing countries focused on the various financial investments and economic support which mutual benefits, development and equality, extensive trade china dominates policies over the small island nation in the relations, technological and economic cooperation and also Indian Ocean. The specific objectives include: the exchange of cultural and scientific resources also Identify the key features of economic development in Sri important to promote common prosperity among developing Lanka; countries. China has a long history of south- south co- Chine’s importance towards the Sri Lankan economic operation which supports to the developing countries working development; together for their common challenges, development 4 Strategically goals of China through the financial issues. Technological, economic factors are more important investments; and which they seek for the Chinas’ helping hand in various fields. Identify the economic issues of Sri Lanka due to the Most of the countries diversify and expand the development Chinese power expansion through economic reforms. links and economic co-operations through powerful tools, partnerships, creating more global interdependence and global 5 IV. RESEARCH QUESTION governance under the present leader of Xi Jimping. Countries like Bangladesh, Myanmar is getting huge benefits and The central research question is, “to what extend Sri Lanka is economic, political focused from Chinese side which seeks for more important to China and how does China influence on Sri the power and strategically benefits of those states by Lankan economic development”. This study seeks to find out investing. This has become a trap to those developing how Sino importance changes the economy and achieving its countries which they kicked down towards problematic strategic goals. economic crisis. The importance of advanced innovation and moving towards technological development are the ways to V. RESEARCH METHOD Chinese power towards the developing nations. This study is followed by exploratory research design based B. Economic relationship between Sri Lanka and China qualitative research approach. Where qualitative research is an unstructured, exploratory research methodology based on all Sino and Lanka relations starting from the 1952 Rubber-Rice secondary information. Data for this qualitative analysis were Pact, the economic relations between the two nations have collected from secondary sources like, by consulting various grown over the years with unprecedented growth since relevant journals, studies conducted by various donor and 2005.Chinese military assistance helped overcome three development agencies, relevant books, reports and articles decades of conflict with LTTE Sri Lanka and Soviet financial used and the information published in the various newspapers assistance to other areas of the Sri Lankan economy, in and websites in current times have been consulted in order to particular,
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