Bangladesh’s Rising Income Potential

Source: huffingtonpost
 
Posted: 04/18/2012 6:03 pm
 

Bangladesh is poised to follow China and India’s recent growth pattern of rising per capita income as the recent distribution of economic growth has shifted in favor of low and middle income countries. Bangladesh’s estimate of economic growth is predicated upon its impressive growth performance of per capita income averaging 5-7.5 percent over the last decade, and expectation of continued positive economic performance. Moreover, it was able to reduce its population growth rate from 2.7 percent in 1970 to 1.58 percent in 2012, which will contribute to its population control and a steady rise of per capita income.

In addition, Bangladesh has a good prognosis to achieve the United Nation’s Millennium Development Goals as they have reduced poverty below 40 percent, gained gender equality, enhanced education levels, maintained relative political stability over the last 20 years, and shifted their economy from agriculture in favor of industrial technology and communication including capturing employment in the “international outsourcing labor market.”

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 Moreover, India blocks a majority of Bangladesh’s exports to India via excessive imposition of tariffs. Indeed the two nations must reach trade agreement that will be mutually beneficial and resolve the water way disputes expeditiously.

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History should have taught India that it is in her best interest to see a prosperous Bangladesh. 

 

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