The International Monetary Fund’s latest World Economic Outlook has triggered much outrage in India.
Context
The International Monetary Fund’s latest World Economic Outlook has triggered much outrage in India.
In this context, let’s analyse the strategic consequences of Bangladesh’s economic rise.
Background
To understand the emergence of Bangladesh as an economic power, one needs to look at the past.
Analysis
What made Bangladesh’s economy ‘grow’?
Thus, having been born without the law, Bangladesh offered a better environment for manufacturing firms to achieve economies of scale and create a large number of jobs. And though Bangladesh still needs much stronger regulation to protect workers from occupational hazards, the absence of a law that explicitly curtails labour-market flexibility has been a boon for job creation and manufacturing success.
Has this ever happened earlier?
Is India expected to regain the lead again?
What are the regional implications of Bangladesh’s economic success?
Collective economic advance
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Concluding thoughts
The economic boom has given the country the confidence to surge ahead. Bangladesh, seen as a bridge between the South and south-east Asia, may not be making a big splash with its development story, but is certainly proving to be the proverbial “tortoise” that may eventually overtake many “hares” with its perseverance.
Verifying, please be patient.