Over the past decade, Bangladesh has created a ‘liberal economy’ in South Asia based on Patani’s income. The information was published in an article in The Wall Street Journal, a US-based news outlet.
According to the article, in the last one decade, Bangladesh has shown an unimaginable jump in export earnings as compared to neighboring India and Pakistan. Bangladesh’s export earnings have risen by 60 per cent in dollar terms, depending on the developing garment industry. On the other hand, exports to India and Pakistan declined at the same time.
The article, titled ‘Bangladesh is Becoming South Asia’s Economic Bull Case’, by Wall Street Journal’s Hong Kong-based financial market analyst Mike Bird, compares Bangladesh’s progress with that of South Korea, China and Vietnam.
The article highlights the large youth population of the country behind the recommendations of the developing countries, the continuous competitive advantage in the field of wages and the strong and growing position of the women labor group as compared to other countries in South Asia.
The article also points out that Bangladesh’s reliance on the garment industry and its backwardness in the Harvard Economic Complexity Index is a challenge for Bangladesh.
On February 26, Bangladesh received the final recommendation of the United Nations to move from the list of least developed countries to developing countries. The Wall Street Journal commented that this achievement would indicate more success for Bangladesh.
Source: Bhorer Kagoj by www.bhorerkagoj.com.
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