How realistic is Bangladesh’s qualification for LDC graduation
Bangladesh’s export trade depends heavily on the EU and the US. Over 80 percent of total export earnings come from these two regions.
M A Khaleque
Economist
Retired General Manager, Bangladesh Development Bank Limited and Writer on Economics
Trend of reduced high inflation must be maintained
In recent years, the issue that has raised the most concern in Bangladesh’s economy is the trend of high inflation. There seemed to be no way to curb this trend of high inflation. Just as the post-COVID global economy was recovering, the Russia-Ukraine war broke out. This unexpected war caused major disruptions to the global economy. The global supply chain nearly collapsed. As a result, due to transportation crises, the prices of various products around the world rose abnormally. In the year the Russia-Ukraine war began, food and other product production worldwide were normal. Therefore, there was no opportunity to identify the trend of high inflation as a problem caused by a shortage in production.
One of main causes of crisis in banking sector is dual governance
The sector of Bangladesh’s economy that has been most severely affected in recent times is the banking sector. The banking sector is often compared to the flow of blood in the arteries of a country’s economy. Just as a disruption in the natural flow of blood in a human or animal can cause physical complications or even death, likewise, if the banking sector of a country is not properly and efficiently managed, problems will inevitably arise in various sectors of the economy. Due to financial limitations, entrepreneurs in developing countries like Bangladesh must turn to banks to meet their capital needs. But the banking sector is failing to provide the desired support to entrepreneurs and ordinary borrowers.
Reasons behind rapid expansion of imitation jewellery market
Ornaments made of gold is the most used and most in-demand jewellery in the world. There is no country in the world where there is no demand for gold jewellery. Especially women have always been fond of gold jewellery. Gold jewellery not only enhances women's beauty but is also considered a valuable asset; but now the users of gold jewellery are going through a crisis. Due to the abnormal rise in the price of gold in the international market, the price of gold jewellery has recently increased significantly in the local market. At the same time, due to the instability of the gold market, many people are now unable to use gold jewellery despite their wishes. Although the price of gold jewellery has increased, the pursuit of beauty by enthusiasts has not stopped. Therefore, they have leaned towards imitation jewellery as an alternative to gold jewellery.
Favourable environment necessary to attract foreign investment
Economic development at the desired level is not possible in any way without investment. Even if a country is rich in natural resources, investment is needed to achieve prosperity through the use of those resources. Natural resources must be transformed and continuously modified to enhance economic utility. There are many countries in the world that are rich in natural resources, but due to lack of financial capacity to use those resources, they have to lease them to foreign companies. Foreign companies loot the natural resources of the country. Such situations have been observed in many African countries. Therefore, no dignified country wants to hand over its natural resources to the custody of another country.
Flat culture is not free from problems
Ensuring housing facility is important among the five basic human rights. Out of the five basic rights, food, clothing, and shelter are the essential basic needs or rights. In other words, if these three rights cannot be ensured, it is not possible for humans to survive. One can survive without education. Though such a life would be akin to that of animals, still, a person can remain alive without receiving education; but without food, clothing, and shelter, survival is absolutely impossible. That is why, after fulfilling the needs of food and clothing, a person considers the matter of a secure shelter. At one time, people used to build their own homes; but now times have changed. People are now leaning towards flat culture.
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