Bangladesh on track to become a top 30 economy: US

[UKBengali]

Yet some dumbasses say alot of things against the government...

The burmese monkeys are totally avoiding this thread lolz

These fools do not understand that what Awami League builds like roads, railways and bridges will be for keeps for BD for decades for come. Even when Awami League eventually goes, the people of BD will still benefit from this infrastructure that is now being built at rapid pace. I must admit that I was totally against Awami League after they first got into power, but can now admit that they are doing very well on both infrastructure and the economy so am relaxed about them ruling for another term or two. They are not perfect as they are a little dictatorial but the good points outweigh the bad.

Burmese will of course be nowhere to be seen as this prediction has been made by the no less than the United States. They keep saying that us BD'shis are fantasing about our growth and that it wont be real and now have been made to shut up.

 

[The BrOkEn HeArT]

Thats why you are not surprised now,its already done...



Yet some dumbasses say alot of things against the government...

The burmese monkeys are totally avoiding this thread lolz

I don't think, you should recheck statices
https://www.google.co.in/url?sa=t&s...Mdzt-94jjScNcbNhw&sig2=TUYk3T75xmkpCB-cvmYk0Q

 

[~Phoenix~]

These fools do not understand that what Awami League builds like roads, railways and bridges will be for keeps for BD for decades for come. Even when Awami League eventually goes, the people of BD will still benefit from this infrastructure that is now being built at rapid pace. I must admit that I was totally against Awami League after they first got into power, but can now admit that they are doing very well on both infrastructure and the economy so am relaxed about them ruling for another term or two. They are not perfect as they are a little dictatorial but the good points outweigh the bad.

Burmese will of course be nowhere to be seen as this prediction has been made by the no less than the United States. They keep saying that us BD'shis are fantasing about our growth and that it wont be real and now have been made to shut up.

Could not agree with you any better,thats just exactly what I think,mind reader

I don't think, you should recheck statices
https://www.google.co.in/url?sa=t&s...Mdzt-94jjScNcbNhw&sig2=TUYk3T75xmkpCB-cvmYk0Q

Well,our economy is much more productive and diverse than them,we are growing faster than them...When we became independent in 1971,we were amongst the top 20 poorest nations on earth,economy completely devastated,no industry at all,90% of the then population living below poverty line,no connection from one town to another,no proper transportation system,full of crimes,high infant morality rate,extremely low life span,no tourism industry,ancient fedual systems everywhere,people had little knowledge of everything around them,97% undecated and 80% illiterate,negligible airforce consisting of a few capturex 1st Gen aircraft which were too incapable to actually fly,an army armed with swords and WW2, WW1 leftover rifles by the British during their reigme,a navy consisting of wooden boats and a few hardly working gunboats,no operational ports,Dhaka had only slums and and hardly a building over 8-10 stories...

And now we are amongst the top 50 economies,an extremely fast growing economy,poverty rate reduced to less than 20% despite population multiplying 3.5 times,emerging in alot of fields of industries from food processing to leather making to making ships to high tech IT stuff,infant morality rate reduced extremely sharply,people have higher standards of life,life expectancy increased very rapidly,tourism sector flourishing,ancient fedual systems replaced with mordern ones,3G network established over 95% of the country and 4G will come out soon,army being armed with state of art high tech equipment under Future Soldier Program and has the 6th largest reserve,Airforce getting 160-240 of MiG-35s and Su-30s combined and possibly J-31 stealth aircrafts,navy is amongst the top 20 largest navies,getting submarines,buying and making stealth corvettes and with one of the best SEAL forces in the world.
We are launching our first space satellite ( BangaBandhu-1 ) on 16th December of next year and two more satellites ( BangaBandhu-2 and BangaBandhu-3 ) afterwards in intervals.Our own made UAVs and possibly UCAVs are expected to be operational by next year.Constructing the 2nd tallest building in the world ( Iconic Tower ).Our economy will go full boom after construction of major projects like Payra Deep Sea Port and Padma Bridge.Making our first nuclear power plant ( Ruppur Nuclear Powerplant ).And all these projects being done within half a century of earning independance.Now compare the earlier condition with the current.Pakistan started out in 10x better conditions than us,and they started out in 1947 while we did in 1971...
JOY BANGLA!

 

[UKBengali]

@~Phoenix~

True that only starting out in 1971 is why BD is so poor now.

Pakistan does not want to hear this as it makes them look bad for economic exploitation.
Indians do not want to hear it as it makes them economically incompetent that they are similar to BD.

Can you belive one Pakistani guy has Indian flooding theory as to why BD did not develop during East Pakistan
period! lol

 

[~Phoenix~]

True that only starting out in 1971 is why BD is so poor now.

Well,we are not as poor as that any longer.Infact I'm actually surprised to know that we are amongst the top 50.

Pakistan does not want to hear this as it makes them look bad for economic exploitation.

West Pakistan looted and exploited our resources and ended up depleting almost all of it,and destroying whatever was left of it during the 1971 war.But its not the Pakistanis' fault for that,its their government's.Infact,they were victims of a cruel and evil reigme themselves,if it weren't for their government,they would be much greater today.Since its not their fault,they should not be reluctant to hear it...

Indians do not want to hear it as it makes them economically incompetent that they are similar to BD.

India is a huge and diverse country.Their population is too large as well.Thats why they are not fully developed and a superpower yet.Again Indians should not be ashamed to hear that as its not their fault...

Can you belive one Pakistani guy has Indian flooding theory as to why BD did not develop during East Pakistan
period! lol

Well,BD did develop during Pakistani reigme.But most of their made infastructure was destroyed or damaged beyond repair during the war...

 

[Nilgiri]

I don't understand the argument of people who say , Per capita is more important .

01 Cost of living matters . Earning 30,000 INR in Jammu is equal to earning 75,000 INR in Mumbai . But you can't compare the two since cost of living in Jammu is low and in Mumbai is high .

02 Common man doesn't purchase in dollars . So per capita is only a rhetoric , when it comes to common man .

03 Life style . A person who earns 30,000 but is a spendthrift will soon be in trouble .

Why do we South Asians try to ape West in every thing

@Nilgiri @BDforever @Zibago

Hence why PPP is used instead of nominal for living standards....and also why it is an estimate not a truth.

Minimum Wage for Garments workers:

2006 - 1662 taka
2010 - 3000 taka
2013 - 5300 taka

Is this per week or month?

 

[UKBengali]

Is this per week or month?

Per month.

 

[Nilgiri]

India is a huge and diverse country.Their population is too large as well.Thats why they are not fully developed and a superpower yet.Again Indians should not be ashamed to hear that as its not their fault...

Physical per capita consumption is very different between the two countries given the average price levels, especially when it comes to middle class goods and services.

Thats the whole reason behind PPP instead of nominal.....BD has long way to go in raising its physical consumption/production instead of chest thumping about how much they may be able to consume if they lived in the US with US price levels (which is what nominal is).

Dont worry about the source as life is too short - i read an article a few months ago on wages in the BD garments sector

This would be for 10 hours a day, 6 days a week and so 60 hours in total per week.

Although the wages do seem low we need to take into account the rapid wage inflation that is happening in BD.
Please see below:

Minimum Wage for Garments workers:

2006 - 1662 taka
2010 - 3000 taka
2013 - 5300 taka

The minimum wage has risen by 218% between
2006 and 2013

BD inflation - start off with 100 for 2006 for simplicity

2006 = 100
2010 = 134
2013 = 170

In the same time period, inflation has gone up
only 70% so you can see the massive rise in real
take home pay.

The government is following a very clever policy
to raise the living standards of the garment workers
while not harming this most critical industry.

Just last year, the BD government has doubled the salary of all government
employees which is far more than what would be eaten by inflation.

BTW, which source did you pull the minimum wage info from? Is it a govt site?

 

[UKBengali]

BTW, which source did you pull the minimum wage info from? Is it a govt site?

Just googled from online sources.

These figures are quite public as the hikes were preceded by demonstrations and strikes
by garment workers.

Currently we are at 44th position.So next 14 years will saw us moving up at least 14 spot.But our target should be to become top 25.By that time G-20 may expand into G-25. So we have a chance to become a member of this elite economic club after 2030.

I think top 25 by 2030 is possible as this prediction is based on 6-6.5% average GDP growth to 2030.

My prediction is that after continued GDP expansion of 7-7.5% a year till the early 2020s, BD will step up a gear
to the 8-9% range till 2030.

 

[Nilgiri]

Just googled from online sources.

These figures are quite public as the hikes were preceded by demonstrations and strikes
by garment workers.

Fair enough. Its a good wage for the poorest surplus (former agro) labour and it explains why the median income/wealth for BD is relatively decent compared to its mean income when I last looked it up I think last year:

https://defence.pk/threads/bangladeshi-middle-class-rising-impressively.405241/page-2#post-7817363

Its Credit Suisse and there has been much criticism of their methodology since, but it still is ok for giving a quick illustration.

This was back before all the nasty trolling wars started and I was genuinely interested in learning/exchanging more about BD economy.

 

[bluesky]

@~Phoenix~

True that only starting out in 1971 is why BD is so poor now.

Pakistan does not want to hear this as it makes them look bad for economic exploitation.
Indians do not want to hear it as it makes them economically incompetent that they are similar to BD.

Can you believe one Pakistani guy has Indian flooding theory as to why BD did not develop during East Pakistan period! lol

Please do not blame everything of our bad goings on Pakistan. It is not that there were no development works before 1971 even if there was a disparity.
1) All the main roads that connect the former greater district towns were built before 1971. Most or many of these are the wide roads built by Sultan Sher Shah Suri . The 2-lane roads have not yet been made 4-lane ones even 45 years after separation.
2) Chittagong Steel Mills, Cable factories, Ctg. Triple super-phosphate fertilizer factory, Ctg. dry dock, many jute mills and many hundred others factories were built before 1971. Many of them are in ruins during BD period.
3) Kaptai and hydroelectricity plant were built. There is only one place where an artificial lake can be built to produce power. But, BoG does not even knows about it. It is in the upstream Sankha river.
4) The 2nd Capital was built in Dhaka.
5) Chandraghona Paper and Pulp Mill was also built at that time. Are there similar projects during BD time?
6) Only now the kind GoB is building power plants in the country. It is only a little more than double than the 23 years in an united Pakistan. BD had built more than 3000 mW producing power plants before 1971.
7) The IRRI paddy projects were all started during Pakistan time after Farakka was built.

So, it is preposterous to always speak evil of everything during Pakistan time and demonizing that period. Only now the kind GoB is building power plants in the country, 25yrs. after we left the union with (west) Pakistan.

Any underdeveloped country develops very slowly. It is too difficult to build the physical infrastructure, specially the roads, in a flood effected terrain of BD. But, as I said before, all the district level roads were built with huge cost at that time. The pace of development was higher during Pakistan time of 23 yrs. than it is in BD during its first 33 yrs.

However, it is developing very fast now, thanks to the privately owned and operated RMG sector. Whatever BD is building now is based on the development works built during the Pakistan period.

 

[alaungphaya]

I have a broken heart when I saw @alaungphaya and the other Burmese are not participating in the discussion. Did they have a heart attack that with all their fancy FDI their country cannot come near BD in terms of economic growth at least for the next hundred years.?

Why are you calling us out, little Bongo? It would be a gigantic shame if you didn't get into the top 30. You are the 7th most populous country in the world. Bigger or soon to be bigger than Japan or Russia yet no one's heard of you. You even have to call your restaurants 'Indian' restaurants.

What does this news even mean? Looking at the countries you will be going ahead of, by getting into the top 30, you will be jumping ahead of the likes of Finland, Denmark, Hong Kong, Norway, Ireland and a few other mature, high consumption economies. Is that really something to be proud of? 200million odd little people put together will create more than a few million Scandanavians by 2030. I suppose we all have to start somewhere eh?

FYI as for Myanmar, out growth rate exceeds yours by a couple of percentage points and that is with financial sanctions from the US. We also have a slight edge in per-capita GDP which becomes a significant edge when it's adjusted for PPP. So as you can see, you actually trail us and over time our total economy will exceed yours even though you have over 3 times the population. And even then we will not be proud because that is nothing to be proud of.

 

[Aung Zaya]

I have a broken heart when I saw @alaungphaya and the other Burmese are not participating in the discussion. Did they have a heart attack that with all their fancy FDI their country cannot come near BD in terms of economic growth at least for the next hundred years.?

LOL.. Well.. GDP calculation based on population.. that's why u got more digits.. in Capita , difference between 2 countries is just around 100 $ in 2016.. and our our country is one of fastest economy too.. so nothing to get heart attack due to this fancy thread.. i'm stick with my own business in these days.. and no time to reply even though i saw u guys talking bad about Myanmar..

Why are you calling us out, little Bongo? It would be a gigantic shame if you didn't get into the top 30. You are the 7th most populous country in the world. Bigger or soon to be bigger than Japan or Russia yet no one's heard of you. You even have to call your restaurants 'Indian' restaurants.

What does this news even mean? Looking at the countries you will be going ahead of, by getting into the top 30, you will be jumping ahead of the likes of Finland, Denmark, Hong Kong, Norway, Ireland and a few other mature, high consumption economies. Is that really something to be proud of? 200million odd little people put together will create more than a few million Scandanavians by 2030. I suppose we all have to start somewhere eh?

FYI as for Myanmar, out growth rate exceeds yours by a couple of percentage points and that is with financial sanctions from the US. We also have a slight edge in per-capita GDP which becomes a significant edge when it's adjusted for PPP. So as you can see, you actually trail us and over time our total economy will exceed yours even though you have over 3 times the population. And even then we will not be proud because that is nothing to be proud of.

well said.. bro

 

[Nilgiri]

LOL.. Well.. GDP calculation based on population.. that's why u got more digits.. in Capita , difference between 2 countries is just around 100 $ in 2016.. and our our country is one of fastest economy too.. so nothing to get heart attack due to this fancy thread.. i'm stick with my own business in these days.. and no time to reply though i saw u guys talking bad about Myanmar..


well said.. bro

http://www.imf.org/external/pubs/ft...=country&ds=.&br=1&c=513,518&s=PPPPC&grp=0&a=

You are doing better than BD where it really counts....actual on the ground production/consumption.

Who cares if BD can buy a cpl more apples in the US.....we care about how many apples they actually are able to buy and eat within BD compared to what Burmese do so for in Myanmar. Apples of course is just simplifying what I mean by every good and service overall.

 

[Aung Zaya]

http://www.imf.org/external/pubs/ft/weo/2016/01/weodata/weorept.aspx?pr.x=29&pr.y=12&sy=2010&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=513,518&s=PPPPC&grp=0&a=

You are doing better than BD where it really counts....actual on the ground production/consumption.

Who cares if BD can buy a cpl more apples in the US.....we care about how many apples they actually are able to buy and eat within BD compared to what Burmese do so for in Myanmar. Apples of course is just simplifying what I mean by every good and service overall.

that's what i wanna say.. we even got heart attack due to this thread...? really funny..