A roadmap for BD's trillion-dollar economy

[UKBengali]

Drop discussion with him.

Wanted to give him a chance to apologise and retract which he did not do.

The other reason was to show he has a history of abusing the negative rating system, which he lied about.

Put on my ignore list now.

 

[bluesky]

A roadmap for BD's trillion-dollar economy

Only a few months ago our Tea Garden women workers were demanding Tk200 per day. If I multiply this Taka by 365 days, the total a woman earns there is a paltry (Tk200 x 365 days) = Tk73,000 per year.

It is $730 per year. Multiply this by 180 million people. The total wages and salaries are only $131.4 billion. Now, multiply this figure by 2 because our PDF posters earn much higher than average.

A 131.4 billion is a far cry from the $1,000 billion that our @Black_cats wants us to believe. Now, you guys are wondering if my method of calculation of GDP is correct or not. See below the definition of GDP.

"GDP measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country"

So, what measures our @Black_cats would take to make the GDP $1,000 billion other than industrialization?
But it takes a very very long time to industrialize any country.

But our Hasina Bibi wants BD to become another Japan or Germany only in 2041. Do I have to believe her stupid theory of development?

 

[Black_cats]

Only a few months ago our Tea Garden women workers were demanding Tk200 per day. If I multiply this Taka by 365 days, the total a woman earns there is a paltry (Tk200 x 365 days) = Tk73,000 per year.

It is $730 per year. Multiply this by 180 million people. The total wages and salaries are only $131.4 billion. Now, multiply this figure by 2 because our PDF posters earn much higher than average.

A 131.4 billion is a far cry from the $1,000 billion that our @Black_cats wants us to believe. Now, you guys are wondering if my method of calculation of GDP is correct or not. See below the definition of GDP.

"GDP measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country"

So, what measures our @Black_cats would take to make the GDP $1,000 billion other than industrialization?
But it takes a very very long time to industrialize any country.

But our Hasina Bibi wants BD to become another Japan or Germany only in 2041. Do I have to believe her stupid theory of development?

Have some basic knowledge on GDP or GDP calculation before making such long post wasting your time. The measurements that Bangladesh will reach 1 trillion USD economy by 2040 is prepared by foreign agency considering modest 5% average GDP growth though Bangladesh is likely to achieve much higher GDP growth than that. With PPP term Bangladesh is already a trillion USD economy with GDP $1.36 trillion USD.

 

[Tom-tom]

@Indos

I would like there to be more trade between BD and Indonesia.

BD should be importing as much coal, foodstuffs and manufactured products like aerospace as possible and exporting garments, home electronics and pharma in return.

Indonesia and down the line BD have/will have large enough domestic markets that trade could run into the 10s of billions of US dollars per year.

This will take decades to reach but the two countries need to start talking about this now.

If bdesh could bring in the raw materials for its industry for it can't get domestically would be a win win. Like raw materials and metals for home appliances .

Ores needed for ship building and steel mill that supply construction.


There is a much deeper scope here

 

[Ali_Baba]

‘Bangladesh on right track to become trillion-dollar economy by 2035’

Published: January 19, 2023 18:16:34

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Foreign Minister AK Abdul Momen on Thursday laid emphasis on stronger partnership and collaborations, noting that Bangladesh is moving towards the right direction to become a trillion-dollar economy by 2035.


"We have potential to become an international business and manufacturing hub and it is time we start creating narratives which would allow Bangladesh platforms to become global incubators for innovation and entrepreneurship," he told a luncheon meeting.

Momen said Bangladesh will have to address the challenges and it is important to have stronger partnership and collaborations, reports UNB.

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) hosted the networking luncheon at a hotel in Dhaka.

FBCCI will be organizing "Bangladesh Business Summit 2023" from March 11-13 to celebrate the 50 years of establishment of this apex trade body.

Commerce Minister Tipu Munshi spoke as a special guest. FBCCI President Md Jashim Uddin, among others, spoke at the event.

Speaking as the chief guest, Momen said Prime Minister Sheikh Hasina followed Bangabandhu's footsteps and established Bangladesh as a "vibrant economy" and a "land of opportunity" today.

In fact, he said, PM Hasina has launched a new vision for today's world - ensuring food, clothing, shelter, education, health services, welfare of the people and right to vote by maintaining friendship, peace and stability with all.

"I call this philosophy "Hasinanomics," Momen said, adding that she introduced four driving forces to achieve Hasinanomics - digital Bangladesh, innovation and creativity development; entrepreneurship and individual Initiative and free market liberal enterprise. As a result, our economy stands on a solid foundation.

The foreign minister said they are working with their best possible calculations to stabilize their production ecosystems and keep trade and investment flowing.

"Bangladesh is doing what the prime minister very correctly described as 'striking a balance between life and livelihood' and making Bangladesh a hub of connectivity, as connectivity is productivity," Momen said.

He remains optimistic that the event will help them reach out to international business communities and uphold their efforts in strengthening their global connections for finding win-win paradigms for the economic prospect of Bangladesh.

Under the leadership of the prime minister, Momen said, Bangladesh has become a middle income country and is making "robust strides" to become a developed one by 2041.

Recent IMF data shows that in terms of nominal GDP, Bangladesh's economy is the 35th largest economy, he said, adding that, "This is a big achievement for us."

‘Bangladesh on right track to become trillion-dollar economy by 2035’

Foreign Minister AK Abdul Momen on Thursday laid emphasis on stronger partnership and collaborations, noting that Bangladesh is moving towards the right direction to become a trillion-dollar economy by 2035. "We have potential to become an international business and manufacturing hub and it is tim

thefinancialexpress.com.bd

Fair play to Bangladesh and respect. They have a vision of where to get to and are making the decisions to get them there. They are making the right decisions aswell and thankfully the generals in Bangladesh are not allowed to interfer.

I think Bangladesh can do it.

 

[bluesky]

Have some basic knowledge on GDP or GDP calculation before making such long post wasting your time. The measurements that Bangladesh will reach 1 trillion USD economy by 2040 is prepared by foreign agency considering modest 5% average GDP growth though Bangladesh is likely to achieve much higher GDP growth than that. With PPP term Bangladesh is already a trillion USD economy with GDP $1.36 trillion USD.

I have given you the definition of GDP. Please do not teach me anything about the economy of a nation. You guys will be keeping on printing all fake figures when our workers get Tk200 per day in the Tea Gardens. How much are the wages for the garments? It is Tk10,000 per month.

So, where do you find even $400 billion?

I started living in a country when that country was already running Bullet trains built by itself and its GDP was 1 trillion. It is now a $5 trillion GDP country. It was and is an industrial power.

So, have some shame before you indulge in talking that you understand the GDP thing and I do not.

Not bullet trains, but produce a few bolts and nuts, idiot!!! And talk $5 trillion GDP.

 

[Black_cats]

I have given you the definition of GDP. Please do not teach me anything about the economy of a nation. You guys will be keeping on printing all fake figures when our workers get Tk200 per day in the Tea Gardens. How much are the wages for the garments? It is Tk10,000 per month.

So, where do you find even $400 billion?

I started living in a country when that country was already running Bullet trains built by itself and its GDP was 1 trillion. It is now a $5 trillion GDP country. It was and is an industrial power.

So, have some shame before you indulge in talking that you understand the GDP thing and I do not.

Not bullet trains, but produce a few bolts and nuts, idiot!!! And talk $5 trillion GDP.

I won’t go into details now to waste my precious times. In RMG lowest salary is 8000 taka who just joined new but on average RMG workers earn 15000-20000 taka or more. Even rickshawalas have net more than 1000 taka earning a day. Look for house maid and see how much they ask or earning.

On topic you started with tea garden workers salary became representation of Bangladesh’s gdp and from there moved to Japan’s 5 trillion GDP? How all these are related to this topic of the thread?

If it’s all fake you should ask this question to Boston Consulting Group (BCG) why they prepared this fake prediction not me.

I told you in my last post Bangladesh has already a $1.36 trillion GDP based on PPP which can’t be manipulated and you are now arguing with 450 billion USD gdp? Get a life and have knowledge of GDP before posting here or tagging me.

 

[bluesky]

I told you in my last post Bangladesh has already a $1.36 trillion GDP based on PPP which can’t be manipulated and you are now arguing with 450 billion USD gdp? Get a life and have knowledge of GDP before posting here or tagging me.

Only falsified GDP comes down from the sky. Wages, salaries, earnings, and living standards, all reflect the GDP size. BD remains at the lowest rung of the economic ladder. People do not get employment and they run to other countries to feed their families. 9 million people are working abroad and you guys tell it is development.

Some of you guys keep on parroting GDP figures. All are BAL propaganda and you guys are helping this propaganda by supporting it here and there.

If you guys are true, then BD has failed all the economic theories by the Pundits. It is creating GDP out of no real investment and no real output. Do not try to say garments and tea gardens are pulling BD economy. But, keep on believing it. It will help your party in the next election.


BD GDP is so strong that it is unable to import/ buy fuels. Instead of falsifying the GDP data, it better you guys try importing fuels, the summer is coming back soon.

 

[Black_cats]

Only falsified GDP comes down from the sky. Wages, salaries, earnings, and living standards, all reflect the GDP size. BD remains at the lowest rung of the economic ladder. People do not get employment and they run to other countries to feed their families. 9 million people are working abroad and you guys tell it is development.

Some of you guys keep on parroting GDP figures. All are BAL propaganda and you guys are helping this propaganda by supporting it here and there.

If you guys are true, then BD has failed all the economic theories by the Pundits. It is creating GDP out of no real investment and no real output. Do not try to say garments and tea gardens are pulling BD economy. But, keep on believing it. It will help your party in the next election.


BD GDP is so strong that it is unable to import/ buy fuels. Instead of falsifying the GDP data, it better you guys try importing fuels, the summer is coming back soon.

If you are a fortune teller why don’t you ask the question to Boston Consulting Group?

To answer your circular queries I would ask you to read the following post that explains 1% Indians have 40.5% country’s wealth or GDP.

India's Top 1 Percent Controls More Than 40.5 Percent Of Country's Wealth: Oxfam

An Oxfam International study has revealed that the richest 1 percent of Indians owned more than 40.5 percent of the country's wealth in 2021, while the bottom half of the population (700 million) owned around 3 percent.

thesparrow.news

Why do you think that it’s so different in Bd as well? We all know inequality exists and rich people are getting richer and pokes are struggling but now no body dies due to hunger. But being said that Bangladesh has also a booming middle class as well. The amount of Bangladeshis traveling abroad, spending on tourism are a good indicator on that.

Your question on not able to import fuel you know the answer very well. Regardless of country’s gdp size it has one of the lowest tax to gdp ratio beside Sri Lanka in South Asia. That in turn results lower amount of money at hand of Bangladeshi government.

Everyone stressed the need to raise tax to gdp ratio, stop money laundering, creating more jobs to sustain the present growth and to increase more.

The people who are going abroad are contributing to GDP which is helping to have more growth. For your information black economy also contribute to the GDP growth and so is the ongoing constructions of mega projects which you cleverly or unknowingly excluded in your comment.

Some anti Bangladeshi elements like you can’t see any positive aspect of Bangladesh and intentionally promote propaganda knowingly or unknowingly all the time.

Stick to the topic of the thread and explain how GDP 1.36 trillion USD based on PPP is falsified?

 

[bluesky]

If you are a fortune teller why don’t you ask the question to Boston Consulting Group?

By professing a high GDP at over a trillion dollars makes you the fortune teller. But, how do you tell us about creating jobs for young people in the country instead of making farcical GDP creations?

How are you going to bring back 9 million people working slaves in foreign countries under the hot Sun? Like you yourself, they also do not know the meaning of GDP. They want jobs. How are you going to provide them jobs instead of escaping to GDP figures that are biased by the BBS and Hasina?

 

[Black_cats]

By professing a high GDP at over a trillion dollars makes you the fortune teller. But, how do you tell us about creating jobs for young people in the country instead of making farcical GDP creations?

How are you going to bring back 9 million people working slaves in foreign countries under the hot Sun? Like you yourself, they also do not know the meaning of GDP. They want jobs. How are you going to provide them jobs instead of escaping to GDP figures that are biased by the BBS and Hasina?

Do you think even if India achieve a 5 trillion USD economy does it mean it or even China will have to bring back its non resident citizens or those who obtained citizenship of other country?

You are just uttering nonsense instead of going to the main point the prediction is made by none other than Boston Consulting Group not Bangladesh government with assumption Bangladesh will maintain a mare 5% GDP growth. If you think Bangladesh can not maintain 5% GDP growth there is no point of discussion with you. Bangladesh is maintaining above 6% or above GDP growth from around 2000 just for your info and expecting to go towards achieving 8% growth in the coming years.

 

[Tom-tom]

Do you think even if India achieve a 5 trillion USD economy does it mean it or even China will have to bring back its non resident citizens or those who obtained citizenship of other country?

You are just uttering nonsense instead of going to the main point the prediction is made by none other than Boston Consulting Group not Bangladesh government with assumption Bangladesh will maintain a mare 5% GDP growth. If you think Bangladesh can not maintain 5% GDP growth there is no point of discussion with you. Bangladesh is maintaining above 6% or above GDP growth from around 2000 just for your info and expecting to go towards achieving 8% growth in the coming years.

Can someone pls tell me what this guy is on, obviously being one of the fastest growing economies in the Middle income and potentially going Into higher middle income realm will wonders for those that reside in bdesh.

 

[UKBengali]

Why don't we come back in 15 years time and see where BD and Pakistan are?

I am inclined to go with all the forecasters who say that BD will be a 2nd world state while Pakistan is a 3rd world one still.

Reality is going to hit people like you like a ton of bricks in your old age.


Unlike a lot of self-proclaimed "experts" here I tend to get all my predictions about things like economic trajectory pretty much spot on. I have been saying for 10 years at least that BD would end up as the most successful economy in S Asia and here it is with a GDP per capita PPP on par with India, after having been at 70% level 15 years ago. India will be surpassed within 2-3 years and then be left trailing after that.

What things have you got remotely right? Please don't be one of those people who thought CPEC would revolutionise the Pakistan economy when people like me were saying without fundamental change in Pakistani culture and society it would make no difference.

I don't blame you as it is hard to imagine and come to terms with being way behind BD and India but I cannot see how that is not going to happen within just 10-15 years.

@waz @Irfan Baloch @Jango @Kompromat

Can some moderator come and look at this ridiculous abuse of the negative rating system by a "Think Tank Analyst"? It has been 5 days since you were tagged.

The guy that gave this thinks this post is "rude" for some bizarre reason. It may be blunt but there is nothing abusive in this post.

 

[bluesky]

Do you think even if India achieve a 5 trillion USD economy does it mean it or even China will have to bring back its non resident citizens or those who obtained citizenship of other country?

You are just uttering nonsense instead of going to the main point the prediction is made by none other than Boston Consulting Group not Bangladesh government with assumption Bangladesh will maintain a mare 5% GDP growth. If you think Bangladesh can not maintain 5% GDP growth there is no point of discussion with you. Bangladesh is maintaining above 6% or above GDP growth from around 2000 just for your info and expecting to go towards achieving 8% growth in the coming years.

Do not compare with India. Talk about BD. GDP is calculated in local currency by rule and is divided by the rate of this currency vis-a-vis the US dollar. Perhaps, you do not know this.

The real strength of the Taka is seen when you buy local goods. Taka has depreciated and will depreciate more. One plate of rice-Mutton costs Tk700. It is more expensive than it is in Tokyo.

So, Taka should be more devalued to get the real GDP. But, you guys want it in the opposite way. If it makes you so happy, why do not you just calculate Taka10 is $1. All problems solved. BD gets more GDP.

 

[Black_cats]

Do not compare with India. Talk about BD. GDP is calculated in local currency by rule and is divided by the rate of this currency vis-a-vis the US dollar. Perhaps, you do not know this.

The real strength of the Taka is seen when you buy local goods. Taka has depreciated and will depreciate more. One plate of rice-Mutton costs Tk700. It is more expensive than it is in Tokyo.

So, Taka should be more devalued to get the real GDP. But, you guys want it in the opposite way. If it makes you so happy, why do not you just calculate Taka10 is $1. All problems solved. BD gets more GDP.

Do not compare with India. Talk about BD. GDP is calculated in local currency by rule and is divided by the rate of this currency vis-a-vis the US dollar. Perhaps, you do not know this.

The real strength of the Taka is seen when you buy local goods. Taka has depreciated and will depreciate more. One plate of rice-Mutton costs Tk700. It is more expensive than it is in Tokyo.

So, Taka should be more devalued to get the real GDP. But, you guys want it in the opposite way. If it makes you so happy, why do not you just calculate Taka10 is $1. All problems solved. BD gets more GDP.

How do you think BD is controlling the value of taka? It is doing it with certain policies. You predicted just few month back BDT will go to 200 taka against USD. Did that happened? It has been stabilized around 100 taka. Due to this devaluation actual GDP growth in terms of USD is low compared to last year.

Bangladesh won’t take the same wrong step like Pakistan for which it is suffering and its currency has gone down a lot and so is its gdp.

For your USD is gradually falling.

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