- India: While relations are generally positive, there are occasional strains due to border disputes, Bhutanese refugee issues, and differences in trade policies.
- China: Bhutan and China share a disputed border, and there have been occasional tensions and standoffs. China's growing regional influence and geopolitical ambitions could also pose challenges for Bhutan's sovereignty and independence.
- Internal Factors: Bhutan's internal challenges, such as economic disparities, youth unemployment, and environmental issues, could exacerbate social tensions and pose risks to stability.
It is important to note that these are potential threats, and Bhutan has taken steps to mitigate these risks through diplomacy, cooperation, and internal development efforts.