Bangladesh becomes a lender for first time

[mb444]

Not your mate, son.

Also we aren't in LDC, you are and will be until you graduate from it(not just make announcement about it, but actually graduate from it). Now how can I educate you on a simple FACT that we graduated from LDC long time ago, whether it was wise decision or not that's totally a different question(we don't have baniya mentality, and we make stupid decisions from time to time). But living in delusions doesn't change facts. Literally on paper, you are still in LDC while we and India are not, now if you wanna argue for the sake of arguing and keep on saying what you wanna say.. Mujhe kia, kutte bhonkte rehtay hain... none of my concern.



Is that supposed to be a dis? I am sprinkling some here and I see who is absorbing all that.




Yeah mb, I am sorry that I provided sources for my claims after that comment. Meanwhile, no one in this thread had the time or the resources to google, correct me if it wasn't the case(regarding exports). The other guy who responded had a reasonable argument and dodged the export bullet altogether by stating that the Bangladesh GDP is based on internal consumption. Ignoring the fact that money earned from export + remittances is what pays of for your imports. So all the wealth that is being generated is either on the back of that LDC status(meaning exports) and remittances. That money is what enable your internal economic progress.

Now, I don't really live in Bangladesh so I don't really know what's really the situation in Bangladesh. Sure your debt situation is great. But. it's kind of funny when people who don't even really live in a country and still state that service sector is booming, we moved from being agrarian to now providing services. Yeah, yeah that's the reason why you lot choose to move out of the country, because the service sector was looking this promising the fundamentals were great and corruption was a foreign concept. Yup, that was definitely the case. Getting smartphone in the hand of beggar or getting zwitty or shmitty (food delivery service) doesn't mean its economic growth or getting fridge and coolers made at home that somehow your fundamentals are perfect. Like who are we deluding here? The question still stands what are you exporting( and btw my list/sources were from 2 years back), is it still the things that I listed or are the major exports different from what I stated?

No you never graduated from being an LDC because you choose not to be one. Your current socio economic stats are that of an LDC.

Imports are paid by BD consumers. Open up an economics book.... imports are not paid by export incomes in a linear relationship like you claim. Whilst it is the case somewhat when you consider BD import of raw goods or capital machinery it is not the case for most of the import. True wealth is created in country via the multiplier effect and that is what pays for import cost of oil, consumer goods etc that are consumed and paid for by the people of the country.


The fallacy of your position can summed up very easily.....in 2019 export was $47.2bn, import was $55.6bn. Yet BDs total indebtedness accross all sectors is about 110bn or about 36% of GDP. How because the gap is filled by wealth that is generated internally.

It is fine for you to hold onto your misplaced belief that BD economic growth is a result of its LDC status. You need contrarians always to provide light relief.

But if you wanted to educate yourself you need to look at the following links that breaks down BD export and import baskets. It is overwhelmingly RMG heavy but the basket is an ever expanding one.

https://oec.world/en/profile/country/bgd

This explains the evolution of BD debt and fiscal policy.

https://countryeconomy.com/national-debt/bangladesh

 

[Death Professor]

But if you wanted to educate yourself you need to look at the following links that breaks down BD export and import baskets.

https://oec.world/en/profile/country/bgd

Even bothered to go through my comments. I already shared the link as a source and you are asking me to go through it "to educate myself". Like, you lot really need to take the head out of where ever it is. Maybe you would learn a thing or two if had to bother to read my comments from the start.

It is fine for you to hold onto your misplaced belief that BD economic growth is a result of its LDC status. You need contrarians always to provide light relief.

Well, we will see if it's misplaced or not after a few years.

This explains the evolution of BD debt and fiscal policy.

https://countryeconomy.com/national-debt/bangladesh

I already commented and said I have no qualms with the debt stat. And it's good that you have handled your debt situation quite well.

The fallacy of your position can summed up very easily.....in 2019 export was $47.2bn, import was $55.6bn. Yet BDs total indebtedness accross all sectors is about 110bn or about 36% of GDP. How because the wealth is generated internally.

Go through my comment again, I already mentioned about remittances

Imports are paid by BD consumers. Open up an economics book.... imports are not paid by export incomes in a linear relationship like you claim. Whilst it is the case somewhat when you consider BD import of raw goods or capital machinery it is not the case for most of the import. True wealth is created in country via the multiplier effect and that is what pays for import cost of oil, consumer goods etc that are consumed and paid for by the people of the country.

Seriously, do I have to comment about the basics of economics? You don't print dollars, you manage your deficits through earnings from VAS or exports or remittances. And that's it, there isn't any magic being cooked up in Bangladesh that is printing dollars. The BD consumers aren't getting dollars out of their asses, they get it through banks, the same banks that deal with inflows and out flows(exports, imports, vas, remittances). Like, I feel like I am arguing with a 5, y.o. seriously. I would rather appreciate if you blocked me, since this is getting this retarded.

 

[Ghost Hobbit]

Question is how did this happen to Sri Lanka ?

Answer is 'China'
Specific answer is 'we belt you to the road'

 

[mb444]

Why do you think the govt should pay everything from its tax money? A very stupid thing you have said and you are preaching to me on national economics!! Very strange!!

Did you really write that? What source of income does a government have beyond taxation? Please enlighten me.

Government of every country borrows from in-country banks , it is the most efficient way of borrowing. Other then this there are only 3 other sources of income .... release of government instruments such as bonds or borrow from international institution or foreign banks. There are no magic money tree out there that the government can randomly create money from.

BoB does not leave its money in foreign banks... it is lending the money to generate interest. These funds are not available to the government to use. These are foreign currency remited by workers overseas against which the government has released taka into the market. If the government used them then instantly it would increase the supply of money in the economy and drive up inflation ruining the economy.

This topic is above your head.... you lack understanding to engage constructively...

Even bothered to go through my comments. I already shared the link as a source and you are asking me to go through it "to educate myself". Like, you lot really need to take the head out of where ever it is. Maybe you would learn a thing or two if had to bother to read my comments from the start.




Well, we will see if it's misplaced or not after a few years.





I already commented and said I have no qualms with the debt stat. And it's good that you have handled your debt situation quite well.





Go through my comment again, I already mentioned about remittances



Seriously, do I have to comment about the basics of economics? You don't print dollars, you manage your deficits through earnings from VAS or exports or remittances. And that's it, there isn't any magic being cooked up in Bangladesh that is printing dollars. The BD consumers aren't getting dollars out of their asses, they get it through banks, the same banks that deal with inflows and out flows(exports, imports, vas, remittances). Like, I feel like I am arguing with a 5, y.o. seriously. I would rather appreciate if you blocked me, since this is getting this retarded.

You see you are unable to maintain your position because it is untenable....

You started off stating BD economic growth is due to its LDC status and somehow graduation would cause it to fall....pointed out it was just nonsense given in BDs largest market the US, BD does not get GSP status.

So you changed to BDs export basket is limited.... no one disagreed but people pointed out that diversification is occuring...

So the latest is what? BD internal economy does not print dollar? Any one claimed that it did? Anyone claimed that remitences does not help with the hard currency cash flow? You are arguing in your own echo chamber, keep awaiting for whatever you think is going to happen. BDs economy is £353bn, lets say import and export balance each other out at $50bn....that leaves a $300bn economic engines that is not about to grind to a halt.

 

[Death Professor]

I agree with you fully on the vulnerability of our export basket. 80%+ dependency on apparel is pathetic. Yes, we definitely benefit from lower duties due to LDC status but withdrawal of LDC provileges alone is unlikely to cause a significant shrink in exports. A good case study is Bangladesh's exports to the US. Bangaldesh's entry to the US market is heavily disadvantaged vis a vis other developing countries as we are not afforded any privileges such as GSP, GSP+, etc. at this time and as a result pay higher duties. Despite the barrier to entry, our exports to the US are still rising steadily.
The LDC tag also comes with a lot of baggage as it discourages foreign investors from investing big in high values products and services.
Bangladesh's main challenge is to expand the export basket to include a few other ten billion dollar+ export items.

Though, I agree with majority of what you wrote. I am still hesitant and confused to what Bangladesh has to offer, in future. And for that very reason I was complaining about exports. The lack of diversification is what I am focusing and there is always a limit to what country can do. The potential that is there, is what I am contesting. BD, can't be a Veitnam, it has its identity, that is majorly defined as textiles and that's it. Meanwhile when you compare, Pakistan, though it may be in shambles right now but it has the potential to diversify. It's all upto people and government to realize and materialize that potential. Meanwhile, I look at Bangladesh, I don't see anything that could be broadening potential, you can't slice out a part from India's share and suddenly become Worlds call center tomorrow. It's a small country having India on one side, sea on another side and Myanmar on the other side and that's it. If someone looks at it holistically, then the ceiling of potential is quite low.

Btw, if you know Urdu, here is a video, which talks about the Pakistan's potential, and no I am not related to the guy, his opinion is his own(though it matched quite a lot with my opinion, just a coincidence). Sure you can say it's a biased opinion and brush it under the rug but through my eyes, these are the facts and this is the direction it is moving forward. We are not in war anymore, things are looking better, Pakistan's geostrategic location is both a curse and a blessing. We have gone through the curse part, now I am really hopeful about the future and it's time for some blessing part.

 

[Death Professor]

You started off stating BD economic growth is due to its LDC status and somehow graduation would cause it to fall....pointed out it was just nonsense given in BDs largest market the US, BD does not get GSP status.

And you wrote open the link "to educate yourself". Like Pathetic, do you know that Germany, France, Spain, Poland Italy etc are all in EU?

Just stop it, it is becoming pointless to argue. I have been consistent with my stance, you can go through my comments. I don't change the target posts, I haven't even edited any of my reply. So if you can't understand what I wrote, then it's you not me.

 

[Destranator]

Though, I agree with majority of what you wrote. I am still hesitant and confused to what Bangladesh has to offer, in future. And for that very reason I was complaining about exports. The lack of diversification is what I am focusing and there is always a limit to what country can do. The potential that is there, is what I am contesting. BD, can't be a Veitnam, it has its identity, that is majorly defined as textiles and that's it. Meanwhile when you compare, Pakistan, though it may be in shambles right now but it has the potential to diversify. It's all upto people and government to realize and materialize that potential. Meanwhile, I look at Bangladesh, I don't see anything that could be broadening potential, you can't slice out a part from India's share and suddenly become Worlds call center tomorrow. It's a small country having India on one side, sea on another side and Myanmar on the other side and that's it. If someone looks at it holistically, then the ceiling of potential is quite low.

Btw, if you know Urdu, here is a video, which talks about the Pakistan's potential, and no I am not related to the guy, his opinion is his own(though it matched quite a lot with my opinion, just a coincidence). Sure you can say it's a biased opinion and brush it under the rug but through my eyes, these are the facts and this is the direction it is moving forward. We are not in war anymore, things are looking better, Pakistan's geostrategic location is both a curse and a blessing. We have gone through the curse part, now I am really hopeful about the future and it's time for some blessing part.

Bangladesh has multiple export products that can potentially hit big (i.e., several billion dollars each) in the future.
We are 97% self sufficient in pharmaceuticals and export to about a hundred countries in small quantities. Consumer electronics and mobile phone export is gaining pace with our products slowly penetrating Europe.
We are building ships for Western customers.
BD is already a major player in IT Freelancing.
We have 100 Special Economic Zones planned.
It's not all doom or gloom like you are portraying.
BD will eventually succeed in diversification but might have to endure bumpy patches along the way.

 

[UKBengali]

And you wrote open the link "to educate yourself". Like Pathetic, do you know that Germany, France, Spain, Poland Italy etc are all in EU?

Just stop it, it is becoming pointless to argue. I have been consistent with my stance, you can go through my comments. I don't change the target posts, I haven't even edited any of my reply. So if you can't understand what I wrote, then it's you not me.

Dude, do you seriously think you know more than IMF, ADB and CEBR that all predict 7%+ GDP growth for BD till 2035? They have already factored in BD leaving LDC this decade.

You are really making yourself look silly and jealous here.

Just because Pakistan or India cannot grow consistently fast, that does not automatically mean that BD cannot as well. One big difference with BD is that it is very homogenous country and so does not have the internecine ethnic issues that India and to a lesser extent Pakistan has. It can just focus on economic development without having to worry about keeping the countries ethnic groups in harmony all the time.

 

[Death Professor]

It's not all doom or gloom like you are portraying.

Not really, and that wasn't my intention. My concern was only from an export LDC point of view, and how things will change after the graduation. Anyway's if you are hopeful that BD can diversify it's exports and you see proactive governmental policies to make it happen, then who am I to say it otherwise.

 

[mb444]

Though, I agree with majority of what you wrote. I am still hesitant and confused to what Bangladesh has to offer, in future. And for that very reason I was complaining about exports. The lack of diversification is what I am focusing and there is always a limit to what country can do. The potential that is there, is what I am contesting. BD, can't be a Veitnam, it has its identity, that is majorly defined as textiles and that's it. Meanwhile when you compare, Pakistan, though it may be in shambles right now but it has the potential to diversify. It's all upto people and government to realize and materialize that potential. Meanwhile, I look at Bangladesh, I don't see anything that could be broadening potential, you can't slice out a part from India's share and suddenly become Worlds call center tomorrow. It's a small country having India on one side, sea on another side and Myanmar on the other side and that's it. If someone looks at it holistically, then the ceiling of potential is quite low.

Btw, if you know Urdu, here is a video, which talks about the Pakistan's potential, and no I am not related to the guy, his opinion is his own(though it matched quite a lot with my opinion, just a coincidence). Sure you can say it's a biased opinion and brush it under the rug but through my eyes, these are the facts and this is the direction it is moving forward. We are not in war anymore, things are looking better, Pakistan's geostrategic location is both a curse and a blessing. We have gone through the curse part, now I am really hopeful about the future and it's time for some blessing part.

Yeah go shout about pakistans potential to someone who might care.

You have only point that BD has no potential.... its the eternal cycle that your ilk displays over and over again....

As with the marshall race theory these pakistani fantasies are just that.... it does not matter what you think but the hard economic numbers are all that counts and i will leave it at that....

 

[Saiful Islam]

Why do we need to lend money to SL just so they can avoid defaulting? Why can we not give this money to our people as a venture capital/small business startup scheme.

What world is BD in

 

[Death Professor]

Yeah go shout about pakistans potential to someone who might care.

You have only point that BD has no potential.... its the eternal cycle that your ilk displays over and over again....

As with the marshall race theory these pakistani fantasies are just that.... it does not matter what you think but the hard economic numbers are all that counts and i will leave it at that....

The comment wasn't in response to you, if I thought you had the capacity to listen, learn or even comprehend then I would have stated all that to you. But I didn't and there was a reason for that. so you can go f yourself out of this Pakistani site.

 

[mb444]

And you wrote open the link "to educate yourself". Like Pathetic, do you know that Germany, France, Spain, Poland Italy etc are all in EU?

Just stop it, it is becoming pointless to argue. I have been consistent with my stance, you can go through my comments. I don't change the target posts, I haven't even edited any of my reply. So if you can't understand what I wrote, then it's you not me.

Western european countries are in the EU? Seriously you dont say.... tell me more...you are full of unique information...

BD has deep logistical linkages with EU. EU has already indicated that current concessions will continue and GSP+ packages within FTA will inevitably be agreed. RMG export will continue its upward path because BD first exploited its low wage cost advantage and then developed an integrated logistics network. This combination is not going to be easy for many others to beat.

The comment wasn't in response to you, if I thought you had the capacity to listen, learn or even comprehend then I would have stated all that to you. But I didn't and there was a reason for that. so you can go f yourself out of this Pakistani site.

The reason you did not was because i would have pointed out pakistans sub saharan socio-economic indicators... i wish you well in your hubris and perhaps you should remove yourself from the forum if you are unable to accept the mirror being held upto your face.

 

[Saiful Islam]

Though, I agree with majority of what you wrote. I am still hesitant and confused to what Bangladesh has to offer, in future. And for that very reason I was complaining about exports. The lack of diversification is what I am focusing and there is always a limit to what country can do. The potential that is there, is what I am contesting. BD, can't be a Veitnam, it has its identity, that is majorly defined as textiles and that's it. Meanwhile when you compare, Pakistan, though it may be in shambles right now but it has the potential to diversify. It's all upto people and government to realize and materialize that potential. Meanwhile, I look at Bangladesh, I don't see anything that could be broadening potential, you can't slice out a part from India's share and suddenly become Worlds call center tomorrow. It's a small country having India on one side, sea on another side and Myanmar on the other side and that's it. If someone looks at it holistically, then the ceiling of potential is quite low.

Btw, if you know Urdu, here is a video, which talks about the Pakistan's potential, and no I am not related to the guy, his opinion is his own(though it matched quite a lot with my opinion, just a coincidence). Sure you can say it's a biased opinion and brush it under the rug but through my eyes, these are the facts and this is the direction it is moving forward. We are not in war anymore, things are looking better, Pakistan's geostrategic location is both a curse and a blessing. We have gone through the curse part, now I am really hopeful about the future and it's time for some blessing part.

If Pakistan is to do better than BD, it would make all the more sense, if the numbers were astronomical it would make sense. Topographically your country varies from each region, mountainous, some fertile plains, desert, etc. You have a multi ethnic state with each region offering different talents and value, just from a side to side comparison of both countries Pakistan should be outperforming BD by ten fold that would be my expectation.

BD, historically Bengal was split in half, just like one of your regions Punjab except ours is a nation state. Therefore I don't recognize the premise of comparing Pakistan with BD or vice versa when one is technically the size of, or just about a province and the other an amalgamation of provinces/regions.

 

[Anubis]

Yeah go shout about pakistans potential to someone who might care.

You have only point that BD has no potential.... its the eternal cycle that your ilk displays over and over again....

As with the marshall race theory these pakistani fantasies are just that.... it does not matter what you think but the hard economic numbers are all that counts and i will leave it at that....

Bangladesh already does something=huh no potential.
Pakistan thinking about doing half of what Bangladesh does=oh my god...potentials everywhere.