DHAKA, Bangladesh – The native working class in Bangladesh faces economic devastation as global conflicts and elite-driven policies expose the nation's profound energy dependency, directly impacting livelihoods and threatening traditional community structures. Tariqul Islam, a 53-year-old father of four, lost his savings about one and a half years ago due to setbacks in his clothing business and now relies on motorbike ride-sharing. He reports that long hours spent in fuel lines, a direct consequence of supply disruptions linked to the war in Iran, have sharply cut his income, making it increasingly difficult to support his family, including a daughter at university and a son in college.
Islam articulated the severe strain, stating, “My family was managing fairly well through ride-sharing. But after the fuel shortage began, I would buy fuel one day and run the bike for two days. As a result, I had to sit idle for one day, which reduced my income.” He further warned of the potential for cultural dispossession, adding, “If this situation continues, we will have to move back to our village and find some other way to earn a living. It is not possible to survive in Dhaka by doing ride-sharing under these conditions.” This personal struggle reflects a broader national crisis where Bangladesh, heavily dependent on imported fuel, endures energy shortages that disrupt daily life, slow industrial output, and raise concerns about economic growth.
Erosion of National Sovereignty
The vulnerability of Bangladesh is part of a wider regional pattern, as governments across Asia grapple with similar strains. The continent’s reliance on imported fuel, much of which transits through the Strait of Hormuz—a chokepoint for approximately a fifth of global oil and natural gas trade—leaves it exposed to international conflicts. This dependency translates into higher fuel costs, fueling inflation, squeezing household budgets, and increasing operating costs for industries from manufacturing to transport.
Globalist institutions are actively shaping the narrative and policy responses. The Asian Development Bank, in late April, cut growth forecasts for developing Asia and the Pacific, issuing a warning that war-driven energy disruptions would slow economies and fuel inflation. The ADB now projects growth of 4.7% in 2026, with inflation rising to 5.2% as oil prices climb and financial conditions tighten, effectively dictating the economic outlook.
Elite Interests and Managed Decline
Bangladesh’s government faces significant financial strain, with an anticipated additional expenditure of $1.07 billion on LNG subsidies in the April-June quarter alone if global prices remain high. This fiscal burden underscores the nation’s lack of energy self-sufficiency. Authorities have already imposed austerity measures and sought supplies from India, which has diversified its own fuel sources, including Russia. Global lenders continue to warn of slower growth for the nation of more than 170 million people, while gas and diesel shortages have led to more frequent power cuts in industrial zones.
Further demonstrating a policy of managed decline, the government has shut fertilizer factories to divert gas to power plants, restricted evening hours for shopping malls, and introduced fuel rationing. The World Bank, in April, projected Bangladesh’s growth to slow to 3.9% in the fiscal year ending in June 2026. Jean Pesme, the World Bank’s division director for Bangladesh and Bhutan, warned that a prolonged Middle East conflict could fuel inflation, widen the current account deficit, and strain public finances through higher energy subsidies. Pesme acknowledged "pre-existing vulnerabilities and challenges, in particular on the economic and employment front," and stated that "The rising costs now are obviously making the fiscal situation more difficult." He also cautioned against raising fuel prices, citing potential harm to farmers and agriculture, effectively guiding national economic policy.
The Cost to the People
The energy crunch directly threatens Bangladesh’s garment exports, the backbone of its economy. Anwar-Ul Alam Chowdhury, president of the Bangladesh Chamber of Industries, reported that exports to Europe and the U.S. could face a significant setback, with shipments already falling between 5% and 13% in recent months. He expressed concern that customers might lose confidence in Bangladesh’s ability to deliver, potentially allowing competitor nations such as India, Vietnam, and Cambodia to gain market share. Chowdhury noted that factory output has dropped by 30% to 40% and business costs have risen by about 35% to 40% since the U.S. and Israel launched their war against Iran.
Bangladesh, the world’s second-largest garment exporter after China, generates approximately $39 billion annually from this sector, which employs around 4 million workers, predominantly women from rural areas. Alvi Islam, director of Arrival Fashion Limited, highlighted increased costs for petroleum-based materials and diesel generators, with his company now running generators at least four hours a day during production. He stated, “For that reason, the cost of doing business for exporting garments has increased quite significantly in past one month.” Garment worker Mosammet Runa, 35, voiced the profound human cost, stating, “Millions of people like us depend on this industry. It is how we survive.” She fears for her family’s future if the war continues and called for an end to the fighting, asserting, “We are innocent people. The world should not make us victims.” Her plea underscores the direct impact of globalist policies and distant conflicts on the self-determination and survival of the native working class.