Bangladesh garment workers offered Tk 6,360 minimum wage, want Tk 16,000

[bluesky]

BD is in an enviable position of very low debt and political stability under AL.

What is this political stability under BAL? You talk as if you yourself and your BAL ba*tards are the joint fathers of BD economic development. The GDP started to grow a few years after the fall of Ershad. The growth Rate averaged 5.69 percent from 1994 until 2016, reaching an all-time high of 7.11 percent in 2016 and a record low of 4.08 percent in 1994.

Now, a stupid like you are telling that BAL should continue in power without giving a fair election. The Chetona guys are really very pathetic citizens of BD. BD people do not need the BAL thieves in power for the economic development. We need a proper election to be held every five years.
@Al-zakir

 

[Black_cats]

Why not let the market decide?

Minimum wage is a bunch of bollocks economically. It subsidises employment at cost of investment, profitability and incentives (which are very important forces in the free market).

If people deem their labour is worth a certain amount, why should anyone else tell them (much less enforce upon them) its too much or too little?

When this is practiced on a macro-industrial scale, you basically have what happened in the USSR in the brezhnev era....near complete economic stagnation and massive accumulated inefficiency.

Look who is back? How was your vacation??

 

[bluesky]

When this is practiced on a macro-industrial scale, you basically have what happened in the USSR in the brezhnev era....near complete economic stagnation and massive accumulated inefficiency.

Welcome back to this forum. Yes, Russia remains a developing country even as of today, although our brats always talk about taking BD to a developed status by 2041 while it still remains an LDC. @UKBengali like fools from BAL never study to know what constitutes a developed status.

Russia is a DEVELOPING country with a per capita income well above the global average, however, it is not a developed country. This becomes obvious to people from developed countries if they visit Russia. Average monthly income is about US$500-600 per month which is not much higher than the weekly minimum wage in advanced economies of Europe, and the Anglo-Saxon nations of Australia/New Zealand, Canada, and the UK.

I wonder, what other people think of BD economic status where its workers get $76 per month salary when Russia is regarded as a developing country where the monthly income is $600?
@UKBengali

 

[Nilgiri]

Welcome back to this forum. Yes, Russia remains a developing country even as of today, although our brats always talk about taking BD to a developed status by 2041 while it still remains an LDC. @UKBengali like fools from BAL never study to know what constitutes a developed status.

Russia is a DEVELOPING country with a per capita income well above the global average, however, it is not a developed country. This becomes obvious to people from developed countries if they visit Russia. Average monthly income is about US$500-600 per month which is not much higher than the weekly minimum wage in advanced economies of Europe, and the Anglo-Saxon nations of Australia/New Zealand, Canada, and the UK.

I wonder, what other people think of BD economic status where its workers get $76 per month salary when Russia is regarded as a developing country where the monthly income is $600?
@UKBengali

Bangladesh and developing world more generally needs more free markets, not less....because governments and rule of law is a shambles (corruption and illiteracy is just one symptom)....so the more things they are involved in micromanaging, the worse off the actual people are.

When you have gotten past the industrial "peak", the discussion can then commence about this "equitability" sharing which involves massive welfare system, minimum wage, high income taxes etc....which mind you even at that point I feel requires much limiting to how the govt gets involved there fiscally.

 

[bluesky]

Good question. I would also like to hear from the spoke person..

হের্ কাছ থাইকা আর নতুন কি শুনবেন? @UKBengali হইতাছে গিয়া ছাগলের ৩ নম্বর বাচ্চা। দুই বাচ্চায় মায়ের দুধ খায় আর হে খালি ফালাফালি করে। হেই মিয়ার কথা শুনলে মনে হয় BAL দ্যাশটারে এক্কেবারে আমেরিকা জাপান বানিয়ে ফালাইতেছে। আসলে কিন্তু বিদেশী লোনের টাকা চুরি কইরা তারা দ্যাশটারে খাইয়া ফ্যালতাছে।

 

[Al-zakir]

What is this political stability under BAL? You talk as if you yourself and your BAL ba*tards are the joint fathers of BD economic development. The GDP started to grow a few years after the fall of Ershad. The growth Rate averaged 5.69 percent from 1994 until 2016, reaching an all-time high of 7.11 percent in 2016 and a record low of 4.08 percent in 1994.

Now, a stupid like you are telling that BAL should continue in power without giving a fair election. The Chetona guys are really very pathetic citizens of BD. BD people do not need the BAL thieves in power for the economic development. We need a proper election to be held every five years.
@Al-zakir

True and long lasting development (economy, social and mental) would come through true and meaningful democracy. People must have freedom to choose their leaders.

 

[UKBengali]

What is this political stability under BAL? You talk as if you yourself and your BAL ba*tards are the joint fathers of BD economic development. The GDP started to grow a few years after the fall of Ershad. The growth Rate averaged 5.69 percent from 1994 until 2016, reaching an all-time high of 7.11 percent in 2016 and a record low of 4.08 percent in 1994.

Now, a stupid like you are telling that BAL should continue in power without giving a fair election. The Chetona guys are really very pathetic citizens of BD. BD people do not need the BAL thieves in power for the economic development. We need a proper election to be held every five years.
@Al-zakir

So BD is now growing at the rate announced by BD government?
You need to make your mind whether BD GDP figures are true or not.

So how is a change of government going to help BD develop, as all that will happen is that they will just scrap as many of the projects and plans and start again? They make plans over the next five years and then if the government gets removed by another party the cycle repeats.

PS - Who said anything about AL continuing without a fair election? The raising of the minimum wage for garment workers by a massive amount this year will guarantee AL millions and millions of votes.

 

[bluesky]

So BD is now growing at the rate announced by BD government?
You need to make your mind whether BD GDP figures are true or not.

So how is a change of government going to help BD develop, as all that will happen is that they will just scrap as many of the projects and plans and start again? They make plans over the next five years and then if the government gets removed by another party the cycle repeats.

PS - Who said anything about AL continuing without a fair election? The raising of the minimum wage for garment workers by a massive amount this year will guarantee AL millions and millions of votes.

Instead of making a sweet weather forecasting for BAL, better you talk to Hasina to arrange a fair election. Let us see what happens then.

About GDP figure, there is a good chance that the government of Hasina is falsifying the figure for the Service Sector. The percentage for the service sector is shown at a staggering 56.35% which is too high for an LDC poor country. Read below a little-edited internet excerpt to know the shares of the contribution of the three sectors to the economy of a country:

"The contribution of three sectors to GDP varies depending on a country's state of the economy.

1. Agrarian Economy: The primary sector(agriculture and animal husbandry) contributes more than 50% in GDP.
2. Industrial Economy: The secondary sector (industry, manufacturing firms)contribute more than 50%in GDP.
3.Service Sector Economy: the tertiary sector (services) contribute more than 50%".

The "Service Sector Economy" stands for only a highly developed economy like US, German, Japan etc. But, the GoB has inflated this sector to a very high 56.35% to falsify the GDP data. BD is not even a developing country. It is just an LDC.

BD's service sector cannot be 56.35% when even the secondary sector (industries and manufacturing) do not almost exist. So, it still remains a primary sector economy (agriculture, fisheries and animal husbandry) with a little mix of labor-intensive textiles (secondary). The service sector (Tertiary) is certainly not above 25%.

@Nilgiri, what is your idea? You are fond of economics discussion.

 

[Nilgiri]

Instead of making a sweet weather forecasting for BAL, better you talk to Hasina to arrange a fair election. Let us see what happens then.

About GDP figure, there is a good chance that the government of Hasina is falsifying the figure for the Service Sector. The percentage for the service sector is shown at a staggering 56.35% which is too high for an LDC poor country. Read below a little-edited internet excerpt to know the shares of the contribution of the three sectors to the economy of a country:

"The contribution of three sectors to GDP varies depending on a country's state of the economy.

1. Agrarian Economy: The primary sector(agriculture and animal husbandry) contributes more than 50% in GDP.
2. Industrial Economy: The secondary sector (industry, manufacturing firms)contribute more than 50%in GDP.
3.Service Sector Economy: the tertiary sector (services) contribute more than 50%".

The "Service Sector Economy" stands for only a highly developed economy like US, German, Japan etc. But, the GoB has inflated this sector to a very high 56.35% in order to falsify the reality of GDP. BD is not even a developing country. It is just an LDC.

A country's service sector cannot grow that much when there is almost no existence of the secondary sector with industries and manufacturing. BD still remains in an griculture, fisheries and animal husbandry stage of the economy (Primary Sector) with a mix of labor-intensive textiles (secondary). The service sector (Tertiary) is certainly not above 30%.
@Nilgiri, what is your idea? You are fond of economics discussion.

I will just wait till Bangladesh makes SDDS category in IMF to make any more commentary. Till then I simply don't know where BAL/BBS/Chetona types are dumping all the inflation as growth (to probably ensure they can get more loans to feed into their crooked system). It (claimed growth) does not jive well with say trade (esp diversification) stats, market cap and energy consumption (i.e things that are strongly 3rd party verified).

If you can get into touch with Mr. M A Taslim, he probably has a good analysis where the vulernabilities in the figures lie:

http://today.thefinancialexpress.co...conomic-growth-disappear-who-saves-1512481205

The government is perhaps more worried about the embarrassment an efficient BBS can do to its image than the harm an inefficient BBS can inflict on policy making and on the economy.

 

[bluesky]

The government is perhaps more worried about the embarrassment an efficient BBS can do to its image than the harm an inefficient BBS can inflict on policy making and on the economy.

I do not think BBS has any direct role to inflate the GDP. People there follow the instructions given by the Hasina/Muhith gang/gong.

 

[Nilgiri]

I do not think BBS has any direct role to inflate the GDP. People there follow the instructions given by the Hasina/Muhith gang/gong.

Fair enough, it could be indirect like you say. However good something may be...you put in garbage, you get garbage out.

This is why its important that BD develops its institutions to reasonably weather political environments and propaganda efforts....be it court system, election commission and crucial organs of measuring and directing the country's finances and objectives (in longer terms past the said political terms).

 

[bluesky]

Fair enough, it could be indirect like you say. However good something may be...you put in garbage, you get garbage out.

This is why its important that BD develops its institutions to reasonably weather political environments and propaganda efforts....be it court system, election commission and crucial organs of measuring and directing the country's finances and objectives (in longer terms past the said political terms).

All the political parties are similarly guilty for are not giving freedom to the judiciary, election commission or the BBS. But, this Hasina govt is more guilty. It is supporting a system that helps its BCL caders to get employment in the categories above via the notorious FF Quota System. This is how the entire rotten system gets more rotten by these uneducated BCL cronies. FF quota is meant to employ BCL hooligans in the government. No other country has such a rotten culture.

 

[Nilgiri]

All the political parties are similarly guilty for are not giving freedom to the judiciary, election commission or the BBS. But, this Hasina govt is more guilty. It is supporting a system that helps its BCL caders to get employment in the categories above via the notorious FF Quota System. This is how the entire rotten system gets more rotten by these uneducated BCL cronies. FF quota is meant to employ BCL hooligans in the government. No other country has such a rotten culture.

Is there any movement to get anti-BCL demonstrations out on the streets? People should not let such hooliganism at highest levels continue.

 

[bluesky]

Is there any movement to get anti-BCL demonstrations out on the streets? People should not let such hooliganism at the highest levels continue.

There are a lot of street movements in Dhaka and other cities by the University students and teachers. BCL hooligans are always there to beat up the demonstrators and break their chain. There are a few threads on the subject. I have started a few, but now I am getting tired to send almost no news.

BD people will get a new lease of life when they become free of the Freedom Fighters quota. By this heinous quota for BCL, Hasina wants her uneducated caders to become administrators in the country. Merit should be the only criteria to select the future administrators.

 

[bête noire]

About GDP figure, there is a good chance that the government of Hasina is falsifying the figure for the Service Sector. The percentage for the service sector is shown at a staggering 56.35% which is too high for an LDC poor country. Read below a little-edited internet excerpt to know the shares of the contribution of the three sectors to the economy of a country:

Why is GDP from service sector being 56% is hard to believe? India's is also above 50%. Besides, wether agrarian or service based isn't depended on how much share of GDP it produces but the percentage of people working in the sectors. Of course service sector adds much more to GDP because it needs much fewer people to produce high GDP compared to agriculture.

40% of Bangladesh's workforce are employed in agriculture but contributes only 14% of the economy. Or do you actually believe BD agriculture contribution should be 50% because BD is a poor agrarian country and because of that can never have only 14% of agricultural share? That would mean either over 350% Bangladeshi workforce work in agriculture or the GDP of Bangladesh is less than $100 billion.