Hmm, I think that is not true. I see it as pure trade. Maybe my view will be biased but It is India who already have absolute control over its smaller neighbor Nepal and Bhutan, have too much control over Bangladesh and mild control over Sri-lanka. This is true China is after geo-politics but their way is different from that of Indians, they're forming partnerships not occupations. China even doesn't see India as threat in long run. China keeps ignoring any India aggression because they're not up for fight yet, however, they do foresee India doing some stupid move. Depending on terrain and adjacent border areas, they don't want to take fight to India itself if it ever occurred. This is just a counter offensive strategy, not preparation for occupation.
If Bangladesh is running for Chinese arms despite being encircled by India from all around, there must be some reason. To me, it looks like they want to rise their head now but they are capable of doing that, they want someone else to ensure their survival - they're used to it and in this case they want China to do that. China is giving them favor, and in return China will get economic and geopolitical benefits. To me, it sounds fair enough.
Ooops I just stepped on someones tail.
