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Bangladesh has been experiencing tremendous GDP growth for a long time and is now one of the fastest-developing economies in the world. Recent CDP report on eligibility and suitability for graduation to a middle-income country from a least developed country indicates that she is on the right track to achieving development status. In her development, all her development partners have contributed on a large scale in different aspects. Currently, China is the largest trade and reliable strategic partner for Bangladesh. It has a substantial attribution on the growth and development perspectives, but the trade deficit, concentration of FDI, and bitter experiences on debt in many countries have created suspicions. Simultaneously, the Chinese greater appearance in Bangladesh has raised the contention among other regional and global partners. They have active participation in several development endeavors to restrain Bangladesh from absolute Chinese influence. As an alternative development partner, China has enhanced better bargaining power for Bangladesh and introduced a greater dilemma to uphold her neutral foreign policy. Nevertheless, Bangladesh still has succeeded in diversifying her development partners on whom she depends on foreign direct investment, debt, trade, technology, and financial support. In general, her development approach is dependent on all rather than exclusive to one, and she needs to be rigid and transparent about her development objectives and policies.