Everyone who cares about the planet’s economy talks about the ‘Bangladesh Paradox’. Economics students around the world are conversant in the term. Everyone wants to know the key to the progress of the social and economic field of Bangladesh by removing the badge of a bottomless basket. This interest is increasing day by day. Even the foremost famous economists within the world do research on Bangladesh on their own initiative.
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Because Bangladesh has shown enviable success in various fields. In some cases, Bangladesh’s success is like surprising the planet.
It is known that Bangladesh has taken the highest position within the ranking of various areas of the planet. Bangladesh ranks first within the world in jute exports and second in production, first in his production, second in readymade garment exports, third in vegetable production, third in GDP growth, fourth in fish production, fourth in goat production, fourth in rice production, sixth in potato production, seventh in cricket and mango production. Seventh, eighth in manpower, eighth in bicycle exports, eighth in outsourcing, eighth in exchange earnings, eighth in guava production, tenth in seasonal fruit production. the foremost talked-about issue within the world today is that the coronavirus epidemic. there’s also recognition of the success of Bangladesh. Despite various mismanagement and deficits, Bangladesh is ranked 20th within the world within the list of successful countries in handling the epidemic. Leading US data media Bloomberg has recognized Bangladesh because of the 20th within the world and therefore the first in South Asia. The Ministry of Health claims that there’s no chance of underestimating Bloomberg’s recognition. Because Bloomberg didn’t just report on the country’s economic success, the corporate announced the results considering a minimum of 10 important metrics, like manpower, infrastructure, immunization capabilities, and movement control needed to combat the coronavirus.
Bangladesh has addressed things with none major crisis when the planet’s economy was hit by the epidemic. Expatriate income, agricultural production, and export trade have rotated after overcoming the initial shock. consistent with Planning Minister MA Mannan, ‘Comparing our economies with other countries within the world within the event of a plague shows that we’ve done better than the neighboring countries. Development partners like the planet Bank, IMF, and ADB have also praised Bangladesh’s economy within the outgoing year. At the top of the present fiscal year, our growth won’t be but 7 percent. that might be an excellent achievement for us. “
However, well-known research institutes also are indicating that the progress of Bangladesh’s success is going to be brighter within the future. consistent with the middle for Economics and Business Research, a British economic research institute, Bangladesh is going to be the 25th largest economy within the world by 2035 if the present economic development continues. The report titled ‘World Economic League Table 2021’, which predicts the expansion rate of any country’s economy within the next 15 years, discusses the economies of 193 countries. The CEBR says that between 2020 and 2035, Bangladesh will have a big improvement within the global economic index. Now Bangladesh’s economy is at number 41. In 2035, Bangladesh is going to be the 25th economic power. consistent with the CEBR forecast, Bangladesh’s economy will grow at a mean rate of 6.8 percent between 2021 and 2025. The influential London magazine The Economist has harshly commented on many aspects of Bangladesh, but they need not misunderstood the success story. that’s why, almost a decade ago, the Economist said within the article ‘Out of the Basket’, ‘Bangladesh has become a model to point out what are often done. Bangladesh has also shown the way to become a model of development.
And Kaushik Basu, a former chief economist at the planet Bank and one among the world’s leading economists researching the Bangladesh paradox, also sees a bright future for Bangladesh. In his article titled ‘Why is Bangladesh booming’, Kaushik Basu said that the longer-term prospects of Bangladesh are bright. However, Bangladeshi policymakers got to remember a number of the risks. Because when the economy of a rustic is doing well, then corruption, nepotism, inequality also are increasing therein country. If the push of those things isn’t pulled, it can stop the pace of prosperity. But the larger risk is that the extremist religious and socially conservative forces. they’re against the social progress of progressive Bangladesh. So, if Bangladesh stops investing within the social sector under the influence of them, it’ll take Bangladesh far behind again.