The political turmoil in Bangladesh offers governance lessons for the Global South and serves as a cautionary tale for developing nations pursuing reforms. And as key partners like India, China, and the U.S. re-engage with Dhaka, they should consider broadening their relationships beyond the ruling party.

The resignation of Prime Minister Sheikh Hasina is a major inflection point. Whether or not this change will bring stability or worsen the situation depends on how the new government under Muhammad Yunus performs and fulfills public expectations.

Despite a rebalancing of the United States and China, Bangladesh’s ever-modernizing economy is anxious about the future.