Bangladesh’s uncertain future, Protesters stormed the prime minister's palace in Dhaka on Monday
Bangladesh has a new leader, temporarily installed after weeks of demonstrations
against the elected government. Today, Kai Schultz catches us up on what's
happened and the uncertainty to come. Plus: The economic realities in the states
likely to decide the US presidential election. If this email was forwarded to
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In a violent and tumultuous week for Bangladesh, the government fell amid enormous protests, its leader fled the country in a helicopter, and the future became a whole lot darker for one of the world's most important emerging markets.
Bangladesh, home to 170 million people, is on the boil. For weeks, thousands of demonstrators have vented their anger at Prime Minister Sheikh Hasina on the streets of Dhaka, the capital, leading to bloody clashes with security personnel. One of Asia's longest-serving leaders, Hasina was widely credited with turning around the nation's economic fortunes. But as her grip on power tightened, Hasina and her government veered toward authoritarianism, her critics say, jailing opponents and cracking down brutally on journalists and civil society. About 400 people were killed during recent protests.
Protesters stormed the prime minister's palace in Dhaka on Monday. Photographer: K M Asad/AFP/Getty Images
After Hasina resigned on Monday, ending 15 years of consecutive rule, Dhaka's streets kept burning. Protesters ransacked her opulent palace, carting away furniture, desecrating photographs of her father (Bangladesh's first president) and even posing for pictures with her lingerie. They torched police precincts and the homes of ministers, vandalized temples of minority Hindus, and ran through the halls of Parliament, which was dissolved shortly after Hasina left for India, where she's figuring out her next step.
To many, this is all terrible news for Bangladesh. Hasina's supporters say she made mistakes but was a highly competent administrator—pulling millions out of poverty through garment exports, expertly balancing ties with India and China and keeping Islamists at bay in one of the world's few Muslim democracies. She ruled with an iron fist, they argue, because weak leaders are steamrolled in Bangladesh. Just look at Hasina's biography. Almost her entire family was murdered in a coup in the 1970s, and she's survived numerous assassination attempts, including a deadly grenade attack at one of her rallies.
Bangladesh's next steps are uncertain. For the protesters, many of them students, the end of Hasina's regime marks a fresh start and a chance to rebuild their country in a freer and fairer way. The military has intervened to restore some order. Bangladesh's main opposition party is gearing up for fresh elections that are supposed to be held within a few months.
Nobel laureate Muhammad Yunus arrives in Dhaka on Thursday and is greeted by members of the military. Photographer: Luis Tato/AFP/Getty Images
On Tuesday, the economist Muhammad Yunus, who won a Nobel Peace Prize for his work alleviating poverty, was appointed the temporary head of Bangladesh. He'll have his work cut out for him. The country's growth has lately slowed, prompting the International Monetary Fund to step in with bailout funds. There are rumors the governor of Bangladesh's central bank may resign. Courts aren't functioning. India—a longtime ally of Hasina's—worries that lawlessness will breed religious fundamentalism in Bangladesh, and could spill across a porous border.
During a recent trip to Dhaka, I spent several hours with Yunus at his home and office. He expressed little interest in entering politics, preferring to focus on his social businesses related to microfinance and fighting poverty. "I'm not a politician," he told me. "This is something I will never do." What a difference a few months makes.
In a violent and tumultuous week for Bangladesh, the government fell amid enormous protests, its leader fled the country in a helicopter, and the future became a whole lot darker for one of the world's most important emerging markets.
Bangladesh, home to 170 million people, is on the boil. For weeks, thousands of demonstrators have vented their anger at Prime Minister Sheikh Hasina on the streets of Dhaka, the capital, leading to bloody clashes with security personnel. One of Asia's longest-serving leaders, Hasina was widely credited with turning around the nation's economic fortunes. But as her grip on power tightened, Hasina and her government veered toward authoritarianism, her critics say, jailing opponents and cracking down brutally on journalists and civil society. About 400 people were killed during recent protests.
Protesters stormed the prime minister's palace in Dhaka on Monday. Photographer: K M Asad/AFP/Getty Images
After Hasina resigned on Monday, ending 15 years of consecutive rule, Dhaka's streets kept burning. Protesters ransacked her opulent palace, carting away furniture, desecrating photographs of her father (Bangladesh's first president) and even posing for pictures with her lingerie. They torched police precincts and the homes of ministers, vandalized temples of minority Hindus, and ran through the halls of Parliament, which was dissolved shortly after Hasina left for India, where she's figuring out her next step.
To many, this is all terrible news for Bangladesh. Hasina's supporters say she made mistakes but was a highly competent administrator—pulling millions out of poverty through garment exports, expertly balancing ties with India and China and keeping Islamists at bay in one of the world's few Muslim democracies. She ruled with an iron fist, they argue, because weak leaders are steamrolled in Bangladesh. Just look at Hasina's biography. Almost her entire family was murdered in a coup in the 1970s, and she's survived numerous assassination attempts, including a deadly grenade attack at one of her rallies.
Bangladesh's next steps are uncertain. For the protesters, many of them students, the end of Hasina's regime marks a fresh start and a chance to rebuild their country in a freer and fairer way. The military has intervened to restore some order. Bangladesh's main opposition party is gearing up for fresh elections that are supposed to be held within a few months.
Nobel laureate Muhammad Yunus arrives in Dhaka on Thursday and is greeted by members of the military. Photographer: Luis Tato/AFP/Getty Images
On Tuesday, the economist Muhammad Yunus, who won a Nobel Peace Prize for his work alleviating poverty, was appointed the temporary head of Bangladesh. He'll have his work cut out for him. The country's growth has lately slowed, prompting the International Monetary Fund to step in with bailout funds. There are rumors the governor of Bangladesh's central bank may resign. Courts aren't functioning. India—a longtime ally of Hasina's—worries that lawlessness will breed religious fundamentalism in Bangladesh, and could spill across a porous border.
During a recent trip to Dhaka, I spent several hours with Yunus at his home and office. He expressed little interest in entering politics, preferring to focus on his social businesses related to microfinance and fighting poverty. "I'm not a politician," he told me. "This is something I will never do." What a difference a few months makes.
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