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DJT seeks Iran Pakistan Turkey Saudis and Qatar to sign the Abraham Accords, May 25, 2026.

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At this point in May (May 22, 2026) a glimmer of hope appears for settling both the crisis in Hormuz and the Ukraine war. Pakistan, Turkey and China following DJT visit to China may be pushing Iran to lower the scale of the conflict. China's first priority was to be accepted by the US at the Beijing meeting as an equal power with the US, and keen to show its willingness to bear responsibility for peaceful resolution in conflict zones as a sign of its maturity as a world power. Much of this is not shown in the media as it is mostly done behind the scenes in communications that the media knows nothing about. Note that even in the depths of the Cold War during the Hungarian revolution of 1956 and Soviet action in Budapest, the US and the Soviets when their economies were not intertwined as the US and China are today, were still talking to each other to limit the conflicts to low level conflict. Hong Kong takeover, China's actions near Taiwan, China's presence in Latin America, Chinese cooperation with Iran, and Russia on Ukraine, China's economic competition in rare earths, are relatively smaller levels of friction considering 1950's Soviet's and the US. At the same time China and the Us are aware of a new bloc emerging in Oslo in May, where India is merging its economy with the Nordic economies of Sweden, Denmark and Norway, and of the European Union and Germany, creating a new bloc of 2 billion people that can only grow rapidly with India's potential to exceed growth rates of 20% in the 600 million Eastern region for a decade. EU would make the shift to strategic partnership with India displacing the vital role the European Union has played in China's growth and economy. This would create new pressures for Russian president Putin to decide it is time to listen to a friend India and de-escalate lower the level of conflict with an initial peace deal that would lead to more talks on a final settlement. Because Russia would have a harder time tackling both India and Germany at the same time. NYT shows on the same day May 22 a report on Russia and a report by the Swedish Foreign Minister Maria Sonegard that say the elites in Russia and Putin were by January 2026 having very serious discussion to change the administration, bring Igor Sechin as negotiaor to end the Ukraine conflict before serious, possibly irreversible damage, to the Russian economy. Sweden's Sonegard says that between 2020 and 2024 Russian economy declined by 8%, not grew by 13% as official figures show, inflation is much higher than 5% as official figures show, and credit is tightening, bankruptcies expected, growth even with oil prices up down to 0.4% for 2026. During 20 years running Russia Putin's No. 1 priority, his life's mission was to restore, then exceed by a large margin the living standards of the Russian people. Having at such great cost accomplished the goal of gaining recognition as a Northern Power in Europe, having gained much of Russian speaking eastern Ukraine, Putin could wisely with self respect wind down Ukraine conflict for good. The US gains something similar to Northern Power status for Russia in its recommitment to the Monroe Doctrine, with Russia withdrawing from any involvement- and China tacitly doing the same-  in the western hemisphere. With that the US can tackle its own losses that match Russian losses in lives- loss of more American lives than in the Korean and Vietnam and WWI combined to drug smuggling from Mexico, Venezuela, Colombia, and restoring rule of law in Cuba, Venezuela, and through drug cartel free Mexico good governance in Mexico.  ...

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DJT says time is on their side to negotiators so that the blockade on Iran will remain till a deal is made that cover nuclear materials. US blockade of Iran in force till a deal is reached as final deal will require going beyond Memorandum to nuclear materials -this is the situation on May 24 2026. Mediators Pakistan and Turkey have only got as far as getting a Memorandum- a written document of intentions not actions taken on nuclear materials- while all the time the IRGC Iran says nuclear is not included. What explains this? There are now two factions inside Iran that are the IRGC and the elected president of Iran, one not as committed to nuclear weapons as the IRGC at the cost to the people of Iran and the nation's economic future. This war has proved that while oil producing countries are causing great damage to their economies and productive potential- this includes Russia, Iran and Saudis-the world is moving on its goal of reduced dependence on oil followed by fossil free future in 2 stages. By the first stage if modernization does not take place in the Middle East it will lose forever the opportunity to modernize infrastructure and fall behind other countries including China, India, Brazil and other nations that have made the shift.  ...

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Mediators Pakistan, Turkey sought to separate Iranian nuclear issue to a second stage with a vague Iranian commitment to discuss the issue and future dragging of feet by Iran. The US DJT administration has made this the only issue that must be settled first before a settlement can be reached, and not by a repeat of the half hearted effort by the Obama administration that led to reconstituting Iran's nuclear effort a second time with US financial assistance. For a day on Saturday it appeared that mediators Pakistan and Turkey had accomplished for Iran just that, to the alarm of Republicans in general and in particular senior Senator Graham. Many sections of the media including the WSJ and the business community, see this as a repetition of the mistakes made by Obama and his administration. Not only did Obama not act to work with Republicans on a border policy- simply protecting himself from Republican attack by deportation policies. Obama continued the war in Afghanistan/Iraq for the same reason to protect his chances for reelection. He also used immigration policy to get the Hispanic vote in the closing months of the reelection year. Obama's other foreign policy failure was in believing Iran had been persuaded to give up nuclear weapons, and gave Iran the financial backing that could easily be shifted from economic to military uses and rebuild the nuclear program,  which he has handed to a future Republican adminstration. Obama also ignored how this would affect the economic wellbeing of the Iranian people with the kind of protests and suppression that has happened in 2026. Democrats and the media, some Republicans, are simply ignoring these errors and have never really faced up to the problems in the Middle East and asked the question why there are 5 decades of wars in the Middle East, and coups, strife, wars for the entire period since 1950. In this situation the US, China, India, EU, Brazil and other nations can learn from this experience and act to secure alternative sources of energy, speed up renewable energy transition, and rapidly end all dependence/intervention on a perpetually strife ridden Middle East, which much of the US and international media in a baffling way ignores or does not say outright. ...

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For the US to do a economic bailout of IRGC Iran now would be a betrayal of the US interest, and of the Iranian people who protested, says WSJ. This strongly worded WSJ editorial from the WSJ Editorial Board says Iran entered 2026 with an economic crisis, then a political crisis with widespread protests and suppression by the IRGC, leading to the Iran war to take out nuclear sites intending to produce nuclear weapons. The US air strikes destroyed Iran's military industrial complex. For the US to do a economic bailout of Iran now, when this is the only time with the naval blockade that Iran can be asked to remove all nuclear materials to a third country, would be a serious mistake. It says the only reason would be close to the midterms and high gas prices. Yet says WSJ letting Iran have its way would mean DJT could lose standing with the American public and see this in the midterms. The US naval blockade should not be lifted until Iran not by words but by actions sends out all the nuclear material out of the country, says WSJ. Lifting the naval blockade for 60 days of talks putting off the nuclear issue is the opposite of what the US has insisted on from the beginning- the nuclear issue is the only issue and it comes first is the US position. The mediation by Turkey and Pakistan, Qatar, has done just the opposite, and in this sense it has failed, according to this view in the WSJ. ...

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For the US to do a economic bailout of IRGC Iran now would be a betrayal of the US interest, and of the Iranian people who protested, says WSJ. This strongly worded WSJ editorial from the WSJ Editorial Board says Iran entered 2026 with an economic crisis, then a political crisis with widespread protests and suppression by the IRGC, leading to the Iran war to take out nuclear sites intending to produce nuclear weapons. The US air strikes destroyed Iran's military industrial complex. For the US to do a economic bailout of Iran now, when this is the only time with the naval blockade that Iran can be asked to remove all nuclear materials to a third country, would be a serious mistake. It says the only reason would be close to the midterms and high gas prices. Yet says WSJ letting Iran have its way would mean DJT could lose standing with the American public and see this in the midterms. The US naval blockade should not be lifted until Iran not by words but by actions sends out all the nuclear material out of the country, says WSJ. Lifting the naval blockade for 60 days of talks putting off the nuclear issue is the opposite of what the US has insisted on from the beginning- the nuclear issue is the only issue and it comes first is the US position. The mediation by Turkey and Pakistan, Qatar, has done just the opposite, and in this sense it has failed, according to this view in the WSJ. ...

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Iran Ceasefire shaky May 11 2026 with no willingness on the part of IRGC Iran (Iran Revolutionary Guard Corps) to send all nuclear materials out of the country. Past experience has shaken American confidence in IRGC Iran's willingness to give up nuclear weapons development. Under president Obama some nuclear materials were sent to Russia, some left inside Iran which were after an agreement used by IRGC Iran to develop weapons grade enriched uranium, putting the situation back to where America started before the agreement. This is behind the DJT Republican administration's effort to get all nuclear materials out of Iran. This has wasted another decade for Iran, diverting resources needed for improving standards of living and cost of living to the weapons programs. The result is internal protests that were widespread in Iran including the middle class, not just students. So that today Iranian people are divided on the issue whether Iran should against all prevailing Middle Eastern and World opinion go for a nuclear weapon. The situation of clandestine development in North Korea and Pakistan of nuclear weapons is not existent today as the US is monitoring it constantly. Israel sees these weapons programs in Iran as a threat to its existence close to its borders in Lebanon and Iraq, which makes it unlikely that clandestine development is possible for nuclear weapons development anywhere in the Middle East. The UAE has also shifted its stance in favor of the US, Saudis want assurances, and India, Pakistan Egypt are in different ways seeking a denuclearized Middle East. This means the American DJT administration is NOT ALONE on this issue as the media in the US and Europe are presenting. Germany's Wadephul and Merz are closer to US thinking on this issue than the media says. Macron and Starmer are at popularity of less than 20% in France and the UK and do not reflect the opinion in France and Britain, and in Europe on this issue. In this sense the US is doing this for a safer world, for China, India, Brazil and EU, all the nations in the poorest parts of the world in Africa, Asia. These poorest nations which are bearing the brunt of this obsession with nuclear weapons development by IRGC Iran in a Middle East torn by 5 decades of wars from Kabul to Damascus, Baghdad to Tehran, by IRGC Iran (Revolutionary Guard Corps), as these poor nations confront lack of oil and fertilizer supplies. It does not come at a good time for even the largest nations about 3 billion people in China, India and Indonesia, Egypt which are suffering from the effects of oil shortages and fertilizer shortages when possibly at most about 40 of 90 million people in Iran support weapons programs, all others in Iran seeking a way out for better standards of living and living at peace with neighbors and the world. In that peacetime Middle East the Palestinian people could find solutions like the Irish people with the goodwill of all neighbors. ...

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Iran's oil production filling up existing storage leading to oil well shutoffs May 2026. Tankers near oil fields are used as storage as Iran faces prospect of filled up storage tanks and ships at sea at some point in the next few weeks. It has slow throttled production, increased storage, yet with no oil getting out of Hormuz straits Iran will at some point in the next couple of weeks have to shutdown some of the oil wells. The oil tanks cannot be monitored for storage level and their is existing storage in refineries and other places making it difficult to say precisely when but it could be in the next couple of weeks. This plays a part in Iran's thinking looking for ways to settle the conflict. US insists on getting all nuclear material out of Iran as an indispensable condition and the full and entire reason for the war not anything against the Iranian people. It is a basic idea- non-proliferation on nuclear weapons. Why in the Middle East- the answer is that for 5 decades there are wars in the Middle East, many small nations created by the British and the French who take no responsibility today, and the prospect of spread is real, sectarian conflicts for centuries, and a situation worse than in the Balkans where World War I started. The region extends from Iran, Iraq, Syria, Afghanistan, Yemen, Pakistan, each nation destroyed by 5 decades of war including many Americans, Russians Europeans dead.  Costs of War Project at Brown University estimates are that 4.5 to 4.7 million people died in these wars. The US is not a colonial power like the British and the French, the Dutch. It seeks no oil as it is self sufficient, and it seeks no strife or involvement in the centuries old saga of the sectarian religious conflicts in the Middle East, having settled its own between Catholics and Protestants in the 17th century so that the Industrial Revolution and Scientific Revolutions could take place to create the Modern World of science, medicine, and industry we know today. Many of the nations of the Middle East seem averse to whole heartedly embracing the European contributions in this achievement as China, India, and America have done, in the process changing how their people think and live, and strive daily to further these achievements. ...

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Gerard Baker of the WSJ writes about not getting involved in unnecessary wars and prudent interventions where necessary. He does not bring up the nuclear issue which is the only issue this war was about- is that a prudent intervention where necessary? The other issue is what the Anglo-Saxon,Saxon world and the Europeans think and feel about the Jewish state after the experience deeply unsettling  of World War II for western civilization itself. Throughout 2026 in Britain, UK, Australia and Canada, and in the  European Union, the people have stood by the Jewish people and the Jewish state while also respecting the rights of Palestinian people. Iran's hostility towards the Jewish state, to its elimination, is the reason for the conflict. Is prudent intervention necessary for the US in this context and what is the Anglo-Saxon and European attitude to defending western civilizations thoughts and sentiment?  What does a nuclear weapons state do to the situation in the Middle East- the Arab states and Israel? This is the main reason for the US involvement even as it is committed to no unnecessary wars. A naval blockade during Iranian closure of the Straits is not an escalation, the US did not bomb Kharg Island only imposed a naval blockade. The US is able to sustain this kind of blockade for a long period as it showed in Venezuela and shows in its backyard in Latin American particularly where it is essential that the US stop all drug smuggling on the seas. The Editorial Board of the WSJ has sent warnings to the DJT administration that it would be a mistake to not address the nuclear issue now and to separate it to a subsequent stage as mediators Pakistan and Turkey have arranged for reasons that are not in the US interest- because that would leave Iran to renege on promises and go for nuclear weapons  third time and repeat the failures of the Obama administration. It can be noted that the WSJ reflects the views of the business community in the US which is thoughtful and not prone to overreach or US interventions. Baker is not part of it after resigning as Editor in Chief in 2018. Yet the members of the Board include- Henninger, McGurn, Strassel, Riley, Finley, Noonan, Taranto, O'Grady, Jenkins and many others. It is unlikely that all of these members would have a drastic and strongly interventionist attitude. ...

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Pakistan win by 5 runs over Sri Lanka T20 World Cup 2026 - not enough to get into semifinals.

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Guardian Analysis of the situation of Pakistan and Afghanistan in Feb 2026 as war breaks out between the two neighbors. 

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US strikes on Kharg Island as deadline nears on April 7 2026, on military targets on Kharg. A two week ceasefire is arranged with Pakistan (and China's indirect) mediation. DJT to meet Xi in Beijing May 14-16 could lead to an extension of that ceasefire and oil prices gradually coming down.

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After a promising start the Pakistan batting order collapses with 8 wickets lost for 36 runs over 78 balls. Player of the match is bowler Jasprit Bumrah with Rohit Sharma a close second for a fast paced 86 runs. It gives India a 7 wicket win with many overs to spare.

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Wisdom and common sense made Michael Boskin to suggest that trade between India and Pakistan should increase in 2012. Boskin was the elder Bush's chairman of the Council of Economic Advisers and helped setup the NAFTA, North American Free Trade Agreement. Boskin says in this WSJ article on April 15, 2012 that trade between India and Pakistan of $2.7 billion was only two thirds of the trade India had with much smaller Sri Lanka. In 2020 OEC data show it to be less than $300 million for trade between India and Pakistan,  and in the Pakistan floods year of 2022 with a third of the country below water the smooth flow of goods and products over borders never made more sense. Boskin said in the WSJ in 2012 that normally bilateral trade follows the "gravity model" of being proportional to the countries GDP and inversely proportional to the distance between them. He then cites estimates of Amrita Batra of Nehru University and Mohsin Khan of the Petersen Institute that show bilateral trade should be 20 times the $2.7 billion in 2012. This would be $50 billion in 2012 ten years ago. In 2020 this would be over $100 billion, not one three hundredth of that at $300 million in 2020 an alarmingly low level of trade between neighboring countries.   ...

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US and Iran accept Pakistan's mediation of the war with a 2 week ceasefire and opening of Straits of Hormuz- April 7 2026. The mediation by prime minister Sharif of Pakistan gave both sides in the war a way to back down. Both sides agreed to talks in Islamabad, Pakistan. As a partner of Pakistan, China may also have a role in setting up a settlement as China and Japan have the most to lose from the Straits of Hormuz being closed, oil prices rocketing up to $115 and higher, and even a prolonged shutdown of Hormuz Straits. Both China and Japan get 90% of their imports from Hormuz Straits. Oil prices drop to the $100 level from $115 after the announcement of talks in Islamabad. This is not a long term settlement. After the two weeks US president meets president Xi of China in Beijing shortly afterwards on May 14-15. It is likely that preparations for that trip will involve China and Pakistan working together to get the US and Iran to agree to an extension of the ceasefire. One outcome of this war is as Le Monde has noted- the unreliability of Hormuz supplies and shift to imports from US and Venezuela and other parts of the world for fossil fuels. And with this a renewed effort to reduce the fossil fuels needed by accelerating renewable energy supplies in Europe, India and China. More attention will also be focused on reducing the proliferation of nuclear weapons by all major powers. Removing US involvement in NATO may also turn out to be positive in some ways to bring Russia and US as nuclear powers to better working relationships, and reduce the nuclear arms race and weapons race. For Europe it means meeting needs of Ukraine and improving military capabilities. The overall result may be positive for all countries. The Middle East region will be seen as one in which no powers should get involved in and the Middle East will also find it has squandered its valuable oil dividend in five decades of wars and mismanagement and fall behind the rest of Asia and Europe, the US in economic progress and development. ...

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DJT calls for Iran to end nuclear program Feb 19 2026, at first Board of Peace meeting in Washington DC. The need for a safer world without the nuclear proliferation to smaller states that increases risks of nuclear war, to North Korea, Pakistan, and Iran. This also means that the US Russia's, China's and India's policy needs to shift to cooperation not just on arms limitation, but also in the area of preventing the spread of nuclear weapons to smaller states. One idea needs to be dispelled the idea that a state gains from its disproportionate use of the country's income and resources to develop nuclear weapons as has happened in Iran, Pakistan, and North Korea, where this has resulted in impoverishment of the country. Another that retaining nuclear weapons would have put Ukraine at an advantage, that states are better off keeping nuclear weapons technologies and weapons for the survival of governments. The world is going through a difficult period- it took many centuries of hardship for China, India, (five centuries since 1500) and other countries to modernize and industrialize, and no one wants to see everything put at risk in the coming generations. Europe and America also have a lot at stake with the countries being poor for most of the period before the 1950's and industrialization. All the achievements of science and technology, all of modern life are at risk of disappearing with this one threat. ...

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Iran's economy following the naval blockade- WSJ cites assessment by Miad Maleki who led Treasury's sanctions campaign on Iran in 2025. Loss of $435 million of economic activity per day and oil shut ins in 2 weeks. As the Europeans sit out this naval blockade and US rethinks its participation in NATO, as the poorer countries in the world are affected by the shortages including Pakistan, India, Sri Lanka and others around the world, the one baffling aspect is how far a nation (Iran)could let its economic prospects be affected to continue uranium enrichment. It is about the failure of another Middle Eastern nation to modernize and improve the living standards of its people, (after Afghanistan, Pakistan, Sri Lanka, Syria and Iraq),  wasting a once in a centuries opportunity to do this wasting an oil dividend that will only last to 2035 when renewable energy may replace fossil fuels. Instead leaving the region with intermittent wars and destruction from the wars since 1950, falling behind in a world that is rapidly modernizing in China and India with about 3 billion people committed to modernization. ...

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Only the week before Tuesday April 7 Pakistan Foreign Minister Dhar failed to convince China to get involved. April 7th Tuesday in the US 1.30 pm US time, 8 pm Islamabad Pakistan time, China finally decided to jump in to convince Iran to accept peace talks in Islamabad. It is quite possible that behind the scenes the US was talking with China which has a 25 Year Comprehensive Agreement with Iran signed in 2021 that is the main support for the Iranian economy. China acted to reassure Iran that talks in Islamabad would proceed smoothly, and persuade Iran to accept ceasefire and talks. Why? Knowing that brinksmanship by US and Iran would lead to unforeseen consequences and hurt China's economy with oil price volatility as well as  hurt the US economy, and hurt the prospects for the planned May14-15 visit by DJT to Beijing to improve economic and political ties, both China and the US wanted to do everything to prevent this from happening. The result a hastily arranged peace talks in Islamabad so that by 4 am Islamabad time on Wednesday or 6.30 pm US time on Tuesday evening the ceasefire had already been agree to by US and Iran, according to this report in The Guardian from Pakistan. The crux of the matter was that it would affect US and China's economy with oil volatility, and US-China relations by jeopardizing May 14-15 revised date for DJT visit to Beijing. This good sense prevailed over all the war rhetoric and the media information and disinformation. It is confusing because of all the misinformation, but becomes clear when one understands this in the context provided in this report from Pakistan by the Guardian. Why Pakistan? For Pakistan the missile attack the day before of a Saudi petrochemical complex by Iran was drawing Saudis into the war and Pakistan has signed a defense agreement with Saudi Arabia that requires Pakistan to support Saudi Arabia if it gets into a war. For Pakistan it was a fragile situation that would be a catastrophe with unforeseen consequences on its economy. Already schools are closed for 1 month in Pakistan and oil is in short supply, paying for it at $115 or $125 a barrel would put severe strain on Pakistan. Who wins, who loses is being told in the media- much less on the good sense that prevailed  the efforts and the predicament of the large powers China, India, the US, and Germany, European Union, the poorer countries, all hurt economically, caught in a war they do not want, do not need. ...

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Media pays little attention to the costs of intermittent wars 1970 to 2026 and lost opportunities for economic development and modernization of a whole range of countries in the Middle East from the area around Egypt, and North Africa including Libya, Sudan, the region around Arab part of the Ottoman Empire of Iraq, Syria, the region stretching from Iran to the Gulf, Pakistan and Afghanistan. As Asia advances in modernization this area and the areas in parts of Latin America that are affected by "drug states" within states are severely impacted. Even the oil dividend is time bound as it lapses in the Middle East with the transition to renewable energy that is only likely to accelerate between 2026-2035. It reflects a series of poor choices by a whole generation of leaders in these regions.

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Pakistan faces soaring food prices with the severe monsoon floods damaging crops and hurting the agricultural sector. Onions are up five times in price. About 80% of the tomato crop is damaged. Imports from India could ease the situation. Under normal trade for neighboring countries India Pakistan trade would be $50 billion in 2012, according to Mr. Boskin, who helped setup the NAFTA trade agreement. Instead it was $2.7 billion in 2012 and it was about $300 million in 2020, in OEC data.  Finance Minister Ismail talked about importing tomatoes and onions and other products from India during the floods with one third of Pakistan under water and half a million homeless.

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100 ships pass through Straits of Hormuz daily 5-6 daily in March 2026. BBC Verify looks at the kinds of ships from India, Pakistan, Iran, and Greek shipping that have made it through the Hormuz shipping lane.  Some of these ships go close to the Iranian coast and not in the middle of the channel. The mountainous terrain along the coast, the peculiar geography of the channel have made it difficult to secure the Straits of Hormuz for international shipping . The channel is itself narrow at one point about 24 miles of water separating Oman from Iran. The shipping lanes are 2 miles wide, a separation zone of 2 miles between inbound and outbound ships. This makes it hard to secure from fast speedboats, missiles, and drones without securing both sides of the channel on mountainous terrain. 

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This article in The Guardian on Pakistan's economy was written over 3 years ago and many of the problems in the economy shown here have increased with the pandemic and the war in Ukraine's effect on food supplies and inflation. New governments in 2022 will face economic difficulties that are worsening in many developing economies. Foreign currency reserves were at $21 billion in March 2022, with total imports of $56 billion in the 2021 fiscal year according to the World Bank. Surging inflation and drop in the value of the currency in 2022 are creating new difficulties in an already difficult situation making good governance for the economy a major priority.

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The devastating floods have increased the urgency of securing financing for Pakistan to avoid any risks of debt default. This report in WSJ says Pakistan has negotiated $4 billion for the current fiscal year that began in July 1, 2022 with the IMF Board meeting to approve it on Monday Oct. 29, 2022. The IMF required Pakistan to secure the remaining additional funding for the fiscal year. For this part of the deal China has rolled over $10 billion in debt, Saudi Arabia $3 billion and UAE $2.5 billion. Saudis will provide $1.2 billion for oil on deferred payments basis. Saudis will invest $1 billion in Pakistan, and Qatar will invest $3 billion in Pakistan.

Finance Minister Ismail says Pakistan is not in danger of default now but it depends on the viability of the IMF program. The heavy monsoon floods have put a reported half of the country under water, and the economic impact says Ismail is about $10 billion.

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See images of the damage from 2022 floods in Pakistan in this WSJ video.

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This report on Bangladesh politics and economy is from The Guardian July 14, 2019. In 2009 the Awami League party under Sheikh Hasina contested the election in a Grand Alliance with Gen. Ershad's Jatiya Party winning an absolute majority of the seats. Since then Sheikha Hasina has been prime minister through 4 elections maintaining economic growth through the garment industry till the pandemic and disrupted supply chains hit Bangladesh hard leading to its debt burden doubling in 3 years. This led to turning to the IMF in 2022  with reserves down to $23 billion and student protests over lack of jobs. A second wave of protests led to her ouster in August 2024. This report by Derek Brown in The Guardian shows the changing situation in Bangladesh in the 1980's and 1990's after independence in 1971 following the India-Pakistan 1971 war. Zia Khaled of the BNP and Sheikh Hasina of the Awami League were alternately in power with periods of rule by the Army under Ershad contesting elections as the Jatiya party when the two parties failed to govern effectively. This went on from 1996 till 2009 when Sheikh Hasina began what would be four terms in office for 15 years. The economy was improving by 2019. And then Covid hit - the pandemic had serious effects on the foreign exchange reserves of Bangladesh, Sri Lankan and Pakistan economies. Only in India with the efforts of prime minister Modi was the economy put on a sustained growth path, corruption prevented by the personal example of Modi's leadership, and a state led development focus achieved using the example Modi had set in Gujarat as its chief minister for 15 years. The rest of South Asia lacked such firm and decisive leadership that is similar in its focus to the transformation of first Japan and China into leading industrialized nations.  In 2022 Bangladesh followed Sri Lanka and Pakistan in going to the IMF. By 2023 the foreign exchange reserves had declined to $23 billion. In 2024 to $19 billion. Garment economy dependent Bangladesh was seeing the effects of supply chain disruption and decrease in earnings from exports. In 2024 student protests on joblessness and frustration at economic prospects led to the ouster of the Hasina government.  ...