And that service industry created a huge market enough to create a decent manufacturing base increasing rapidly YoY.I don’t understand this fetish with knowledge based / service economy.
Yes, it creates a larger middle class and thousands of billionaires. But at the expense of the mass!
Transition too soon and you end up like India and Sri Lanka.
Loads of millionaires and billionaires but the poor cannot even afford a decent funeral. They have to resort to chucking bodies into rivers off bridges!
BD should not transition to a knowledge based economy for another 20-25 years. By that time we would have met the underwear needs of the world.
And of course we still need to learn to make sewing needles!
And what do you even mean by “end up like India”? We’re not a single sector dependent economy and we have a diversified economy with high growth.