Economics Explained
Why Bangladesh Won't Be The Next China
Apr 8, 2024
Exploring Bangladesh's potential for economic growth, its labor-intensive market for T-shirt production, and the challenges hindering its development. Can Bangladesh transition to become the next China by diversifying its economy and attracting foreign investment?
14:08
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Quick takeaways
- Bangladesh's potential growth is hindered by slow development beyond labor-intensive markets.
- Transition to a capital-intensive economy requires upskilling labor force and diversifying exports.
Deep dives
Factors for Bangladesh's Economic Potential
Bangladesh possesses many advantages that could have propelled it into an economic powerhouse, including global trade routes, a low debt to GDP ratio, access to oil, and a dense population. Despite adopting the Westminster legal system favored by international investors, Bangladesh remains on the UN's least developed country list, highlighting missed opportunities for economic success.
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