FY ’16 to be new GDP base year from July, 20, GDP to rise 10-12%

[Skull and Bones]

Economy expanded no the number.

Yes, in papers. It is a good habit to change the base year after every 10 years.

 

[bluesky]

Yeah I mean have you seen the average run down place an BD illegal (like yourself) in a Cali sanctuary city lives in?

It's no surprise....what is a surprise is you just smelled one.

In some other thread, this @Bilal9 from Hatia island in Noakhali sent tons of bus photographs to claim that Foton of China is assembling these buses in Golden Bengal when nothing such thing exists.

Usually, some private transport companies import new chassis from foreign sources and ask the local workshops to build body the maker recommends them. There are quite a number of workshops where these bodies are built. But, this stupid @Bilal9 claims that Foton is assembling the buses in BD.

No wonder, he and @UKBengali, his other comrade in arms from Sandwip, are angry with you that you do not accept their stupid assertions. Can you send them some Chinese medicine to improve their knowledge about the development of the national economy?

 

[UKBengali]

He is professor of Economics at your top university....and who are you again?

Some typical sylheti in a typical chav+BD ghetto (with a typical existence and typical job that you lot have to go along with it) getting woken up in middle of night by neighbours:

https://defence.pk/pdf/threads/eiu-...g-economy-in-2019.595003/page-2#post-11074727

....leading him to cry that UK people are all WAISSSSISST underneath the polite veneer:

https://defence.pk/pdf/threads/isis...amima-not-welcome.602903/page-6#post-11191518

Never takes responsibility or ownership of own faults like the typical radicalised airhead sylheti....similar to ones that leave and join ISIS or whatever and then have audacity to complain about citizenship stripped away.



Your numbers are terribly miscalculated and misapplied to begin with. Forget about misunderstood (given you dont even know what you are talking about in first place)....like how much will be manifested in the inflationary component of current dollar nominal in first place and how much will be "real" of this "10 - 12%".



It's pretty sad when we look at what actually matters and counts (even taking accounting standards the same level qualitatively for sake of argument which they are not given BD in GDDS and India in SDDS):

https://data.worldbank.org/indicator/CM.MKT.LCAP.CD?locations=IN-BD

https://data.worldbank.org/indicator/NY.GDP.PCAP.KD?locations=IN-BD

https://data.worldbank.org/indicator/EG.USE.PCAP.KG.OE?locations=IN-BD

https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?locations=IN-BD

Tell your people to consume more than 250 kg oe of energy....I mean jeezus. That is what Pakistan and India did back in the 50s and 60s. What is that 50 - 60 years ago now?

At that low base you are already dumping this level of inflation on your lot? That your constant/current GDP ratio is at just 75%? Just pathetic. Results of extreme ribcage level consumption that @Indus Pakistan calls it...its what happens when you just export cheap underwear and cheap manpower/lady-"maids" based on the good graces and mercy of others....not what you can actually do/sustain thats relevant in an actual free + fair market place with 0 quotas and special help (because you are deeply irrelevant, always have been and always will be). That is why you have literally zilch being done compared to any other country in region and developing world once you take away RMG and remittance (special help for special poor people...i.e basically aid/grant process...nothing coming from actual capacity to do something).

What is your FDI level again? What is your market cap? What is your hard consumption of base-inputs?

You earn what you do wherever you go for a reason after all. You only need to wake up at 4am the next time and check your surroundings/conditions if you don't believe me mr "all UK people are waisssist" sylheti janitor/dishwasher.

People that blame everyone else (be it Pakistan, India, UK, Myanmar, "soft" Dhaka Bangals and "weak" Ghotis and whoever else comes to mind) but never themselves......likely are in the crappy situation they are because of the latter (themselves), not the former (everyone else).

It bears testament in the macro-stats wherever you go (that is credible and developed) and the fact checking the (few) smart+woke Bangladeshis do within the source country (and don't take the blah blah rigging + BAL-deity govt word on it).

@bluesky @Game.Invade @Valar. @Imran Khan @Gibbs @Zee-shaun @Baby Leone @I.R.A @Major Sam @OsmanAli98

Lol.
The existence of a lowly Tamil is exemplified in this post.
Keeps harping on about income as his lot are bottom of barrel when it comes to looks.

 

[Nike]

Great post and this sentence is exactly what I mean. Bangladesh Govt has to put more trust in its own people. In the end they have to consume lot more stuff from the pyramid base...and get the larger bargaining power/investment inherently themselves.

Govt of BD must make it easy and provide good arena for that (courts, standards, technocrats).....and focus more on delivery of the basic things govt does best.

Govt of BD can only convince so much the lenders/investors anyway (if they take such a full on mantle because of no private sector + institutional development/expansion)....given BD consumption numbers of note that is presented in external relevant 3rd party (somewhat indisputable) way to outsiders (that these lenders and investors look at first thing) are simply not good enough....and reinforce that most of the BD govt figures (even if 100% true as claimed) have only accrued to the very wealthy elite mostly and very disproportionately (esp if real household consumption is in decline as the economics professor Mr. Taslim has pointed out).

Thus they simply wont be serious in engaging with BD to help take it to "phase 2" past the RMG +manpower remittance model....because they need something honest/proven in return for them.

That is the basic thing with phase 1 compared to phase 2. Phase 1 you can rely on good graces and special help (like how parents dote on their kids as kids have no real responsibility). Phase 2 means you are no longer a child and you need to prove you are teenager capable of turning into adult. That means you need to demonstrate some cold hard numbers to those watching and judging....like that you can do basic times tables, language skills and basic aptitude etc.

But BD govt still operating in phase 1...treating its people as phase 1 (or even phase 0)...yet wants to skip phase 2 and 3 and get to phase 4+ with comments like "BD will lead the 4th industrial revolution" etc etc. People (that can help and cooperate with BD to get to phase 2 sustainably if BD govt and elite is honest/introspecting) looking at this just (silently/openly) chuckle at such things.....esp when they see/know the cold hard numbers in the end.

Do it too much and it will become a turn-off....and they will form wrong impression long term (and this plays role in BD slow market cap recovery after the scam based collapse earlier for instance). BD must be cautious and pragmatic, and be open to good internal fact checking and transparency. Govt is just really a symptom of a broader attitude that needs to be challenged and corrected. Hubris is not good to form this early. This extends to every developing country generally...the variation and level is all that changes.

As @Avisheik correctly pointed out very succinctly in 1st reply "the number expands, the economy does not". What is actually happening on ground (which matters the most in the end) does not change suddenly by taka nominal re-basing (which is basically a calibration and a number game).

There are many routes to judging/analysing the "actual" in often a better way compared to the govt figure (which is constrained by certain factors to begin with given comparison norms, standards and series history etc...which adds element of data quality loss when you tabulate at macro level) on the issue anyway.

@GeraltofRivia @Gibbs @Tanveer666 @scorpionx @Joe Shearer @VCheng @jbgt90 @Major Sam @farhan_9909 @That Guy @Marine Rouge @Chak Bamu

I think what Bd need is reform in their financial regulation systems, and cutting most of their red tapes to invite more foreign investment especially in manufacturing sector. Second they need to improving their logistic sector, in which they are fall short even compared to their peer, single large bridge, single MRT line, and so so number of highway is cant improving much of their economy

 

[UKBengali]

I think what Bd need is reform in their financial regulation systems, and cutting most of their red tapes to invite more foreign investment especially in manufacturing sector. Second they need to improving their logistic sector, in which they are fall short even compared to their peer, single large bridge, single MRT line, and so so number of highway is cant improving much of their economy

Second MRT line has already been approved. 6 lines are planned in total.
BD government wants to build a 2nd Padma Bridge.
All single lane highways are in the process of being upgraded to 4 lanes as we speak.

 

[bluesky]

I think what Bd need is reform in their financial regulation systems, and cutting most of their red tapes to invite more foreign investment especially in manufacturing sector. Second they need to improving their logistic sector, in which they are fall short even compared to their peer, single large bridge, single MRT line, and so so number of highway is cant improving much of their economy

Manufacturing plants are the essentials of economic progress. I have been hearing all these EPZ FDI promises since when I do not remember. Every day there is govt induced possible FDI news without any base.

FDI companies are minutely watching the way the govt authority guys talk so many things but do little to ease the investment climate. Instead of waiting for the GoB to ease the investment rules they are flocking to Vietnam, Indonesia or Burma. Vietnam receives about $30 billion FDI every year compared to BD's less than $2 billion. But, BD is not willing to reform.

@TopCat, @Nilgiri

 

[TopCat]

Manufacturing plants are the essentials of economic progress. I have been hearing all these EPZ FDI promises since when I do not remember. Every day there is govt induced possible FDI news without any base.

FDI companies are minutely watching the way the govt authority guys talk so many things but do little to ease the investment climate. Instead of waiting for the GoB to ease the investment rules they are flocking to Vietnam, Indonesia or Burma. Vietnam receives about $30 billion FDI every year compared to BD's less than $2 billion. But, BD is not willing to reform.

@TopCat, @Nilgiri

I look into total investment not the part of FDI investment.
I am not too fond of FDI as long as our domestic investment thriving which is great for long term prosperity. Domestic investment will bring in FDI after a certain stage of capital formation when they will need to get access to foreign technology.
We dont have natural resources where you could attract up front FDI to begin with at the nascent stage of our economy.

 

[Nike]

I look into total investment not the part of FDI investment.
I am not too fond of FDI as long as our domestic investment thriving which is great for long term prosperity. Domestic investment will bring in FDI after a certain stage of capital formation when they will need to get access to foreign technology.
We dont have natural resources where you could attract up front FDI to begin with at the nascent stage of our economy.

Look at Singapore, Japan, Hong Kong, what kind of natural resources they had to attract FDI

 

[TopCat]

Look at Singapore, Japan, Hong Kong, what kind of natural resources they had to attract FDI

Sg and HongKong are city state and can not be equated with a country of 160 million people. Both of them have massive ports servicing the entire world which gave them the protection against financial meltdown.

Japan always had domestic investment driven economy.

 

[Nilgiri]

I look into total investment not the part of FDI investment.
I am not too fond of FDI as long as our domestic investment thriving

Of course fat babu will not like any new competition to his babudom.

is exemplified in this post.

Only thing exemplified now is that you think all British people are racist "underneath the veneer"....that you live in a neighbourhood where you get abused and woken by your neighbours at 4am or whatever.

So yeah its pretty clear who is the lowly one....and why it lashes out against everyone else but himself....in typical ISIS-sylheti style....coz everyone being waisssist to it is why it has a stinky crappy min-wage job.

 

[bluesky]

I look into total investment not the part of FDI investment.
I am not too fond of FDI as long as our domestic investment thriving which is great for long term prosperity. Domestic investment will bring in FDI after a certain stage of capital formation when they will need to get access to foreign technology.
We dont have natural resources where you could attract upfront FDI to begin with at the nascent stage of our economy.

Bold parts: I have read your similar statements many times already. Your second point is valid but not the first point in bold. Natural resources are certainly needed to attract FDI. This is why EU countries, China and Japan are competing with each other to take their FDI to some of the remote African countries to build their physical infrastructure as a first step.

BD may not receive that kind of FDI not because it does not need it but because the foreign companies are less interested in investing in BD because of its lack of natural resources and its people's image abroad. However, you cannot say that it does not need FDI for the next phase of development.

As you said earlier that "Steam Engine" is not be re-invented but I must ask what you do when you have to build ones. It would be wiser to ask an experienced foreign company to build such a plant in BD and bring in the components and assemble the engines, its people cannot even manufacture the body components.

So, here comes the FDIs to play its role in manufacturing. The steam engine is an example. There are a hundred other difficult things that require not only capital but also technology. BD lacks both these. At least a yearly $20 billion worth of FDI for the next 30 years will cause BD to develop economically. BD lacks that kind of fund, even if it has the money it has no technology. On the other hand, the FDIs come with the fund as well as technology.

We should be happy with FDI although they may take their profits back to their HQs. BD people will get employment, receive wages and the GoB will receive the Corporate and Personal Income Taxes.

 

[bluesky]

Look at Singapore, Japan, Hong Kong, what kind of natural resources they had to attract FDI

Bold part: Japan developed not because of FDI but because of its almost zero absence. It developed almost all its technologies by itself since the Meiji Restoration in the 1860s or even before that. However, whenever it sought an infusion of foreign technology it bought it with hard currency and not either with FDI or loans from international lending agencies. The international lending agencies did not even exist in those days.

In those days, as it is now, Japan had almost no natural resources. But, it had/has quite a large quantity of coal, gold, copper, zinc, and lead. Coal they used to produce power that operated their factories and copper they sold to pay for the imported technologies and machines from Europe/USA. It also had the best quality silk which they exported to earn money to pay for the industrialization.

However, in the process of industrialization, they absorbed the technologies and further developed them with their own efforts under a strict govt policy of non-dependence upon foreign countries. Its economic expansion caused it to fight against Europe in the WW1 and against the allied power in the WWll. It needed natural resources as well as markets for its products even in the early 1910s.

Both were controlled by the White people. For example, your Indonesia was under the Dutch. With the help of the French in Vietnam, the USA in the Philippines blocked Japanese sea lanes to Indonesia from where Japan imported oil and natural resources. So, Japan invaded the Phillippines and ousted the American troops from its soil. Next, it was Indonesia from where the Dutch were expelled. Vietnam and others is another story.

Anyway, it is a long story about how Japan developed but it was certainly not by FDI but by its own efforts and struggle.