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Foreign agency's (R&AW's)canard negates Papanek's forecast
M.I. Ali
The weekly Hoilday, 23rd April 2010
HOLIDAY: Friday, April 23, 2010
The country's lone economic daily the Financial Express the other day front paged an interview of a renowned American economist, Professor Gustav Papanek, an emeritus professor at the University of Boston, in which he said that Bangladesh now has a chance of a lifetime opportunity of achieving 10 per cent growth. This growth, he said, is likely to come from the growing demand of the Chinese consumers, not the traditional consumers in the West.
Prof. Papanek said that due to increasing labour costs in China, production of labour-intensive consumer goods is no longer attractive to the Chinese manufacturers. Examples of these goods are toys, shoes, electrical, electronic, light engineering, etc. These sectors, according to him, have the potential of creating up to four million new jobs per year.
He also said that with US$ 2.5 trillion in foreign exchange reserves, China no longer needs foreign investors. Bangladesh, on the other hand, can offer an alternative platform to the overseas investors. These investors, unfortunately for Bangladesh, are unlikely to come to Bangladesh and opt for countries with better image and infrastructure, like India, etc. The bane of Bangladesh is its image.
On the same day, Dhaka's staunchly pro-government Daily Janakantha, headlined an article of a meeting organised and coordinated by an influential Indian intelligence agency which was participated by its allied intelligence agencies from all over the world. In an apparent attempt to tarnish this country's image, the meeting concluded that the next target of Al Qaeda is Bangladesh where they are planning to mount a massive air attack. According to the intelligence gathered by these agencies, after America, Pakistan, Afghanistan and India, Bangladesh is the next target of this dangerous terrorist outfit. This report has been circulated among many countries of the world.
This is one of the examples of how the image of Bangladesh is being systematically tarnished. While no country in the world can afford to relax its security, announcing that Bangladesh will be the next target of the dreaded Al Quaida will definitely send chills down the spines of potential foreign investors. Many of them will think twice before venturing to invest in this country and will look for alternative places to invest in, such as India.
Thanks to the smooth transfer of power in Bangladesh over the last twenty years, this country is the most stable one in entire South Asia. Unlike India, Pakistan, Afghanistan and Nepal, Bangladesh does not have any insurgency movements, not since the Indian trained and armed Shanti Bahini joined the mainstream politics during the previous Awami League government. All Bangladeshi governments have strictly monitored the ultra religious groups and have successfully curbed their anti social activities. Bangladesh is also the only country in the region where these ultra religious groups do not enjoy any popular support. This is borne out by the fact there was massive popular support for the judicial execution of the entire JMB leadership a few years ago.
Furthermore, unlike Pakistan, Afghanistan and India, Bangladesh does not suffer from any ethnic or communal problem, there are no secessionist movements and American presence, influence and connivance, the main causes of Al Qaeda attacks, are also absent in this country. Much as Indian intelligence and media would like to, Bangladesh can not be grouped with these three countries where Al Qaeda is concerned. Yes, Bangladesh has its share of religious trouble makers similar or less than those of most countries of the world; but infinitely less than both Hindu and Muslm radicals in India and Muslim radicals in Afghanistan and Pakistan.
With the rise of the Maoists who are actively exposing the economic backwardness of eastern India, Delhi can ill afford a vibrant and prosperous economy in its contiguous country Bangladesh in the east. Yes, Bangladesh has its political problems with its two major political parties always fighting with each other on trivial issues, but this did not deter the Bangladesh economy to grow, thanks to its private sector, at a rate of about 6% over the last two decades. The most fascinating factor here is that unlike India and Pakistan where economic growth is foreign investment driven, Bangladesh's growth is entirely domestic finance driven.
Bangladesh is a maverick, it is unique. It is one of the very, very few countries whose economy, although export driven, was relatively unscathed during the global economic meltdown. Its stock exchanges, although very small, performed superbly, second only to the Shanghai Stock Exchange. These fabulous success stories are overshadowed by the negative media blitz of quarters that do not want to see the emergence of Bangladesh as a regional economic powerhouse. Unfortunately, as no government in Bangladesh has been able to project a vibrant positive image of the country, it is up to the local business community to rise up to the occasion and announce to the world that the Bangladeshi economy has arrived on the world scene and is ready to receive their investments safely, with a promise of returns that can not be matched by any other country in the world.
M.I. Ali
The weekly Hoilday, 23rd April 2010
HOLIDAY: Friday, April 23, 2010
The country's lone economic daily the Financial Express the other day front paged an interview of a renowned American economist, Professor Gustav Papanek, an emeritus professor at the University of Boston, in which he said that Bangladesh now has a chance of a lifetime opportunity of achieving 10 per cent growth. This growth, he said, is likely to come from the growing demand of the Chinese consumers, not the traditional consumers in the West.
Prof. Papanek said that due to increasing labour costs in China, production of labour-intensive consumer goods is no longer attractive to the Chinese manufacturers. Examples of these goods are toys, shoes, electrical, electronic, light engineering, etc. These sectors, according to him, have the potential of creating up to four million new jobs per year.
He also said that with US$ 2.5 trillion in foreign exchange reserves, China no longer needs foreign investors. Bangladesh, on the other hand, can offer an alternative platform to the overseas investors. These investors, unfortunately for Bangladesh, are unlikely to come to Bangladesh and opt for countries with better image and infrastructure, like India, etc. The bane of Bangladesh is its image.
On the same day, Dhaka's staunchly pro-government Daily Janakantha, headlined an article of a meeting organised and coordinated by an influential Indian intelligence agency which was participated by its allied intelligence agencies from all over the world. In an apparent attempt to tarnish this country's image, the meeting concluded that the next target of Al Qaeda is Bangladesh where they are planning to mount a massive air attack. According to the intelligence gathered by these agencies, after America, Pakistan, Afghanistan and India, Bangladesh is the next target of this dangerous terrorist outfit. This report has been circulated among many countries of the world.
This is one of the examples of how the image of Bangladesh is being systematically tarnished. While no country in the world can afford to relax its security, announcing that Bangladesh will be the next target of the dreaded Al Quaida will definitely send chills down the spines of potential foreign investors. Many of them will think twice before venturing to invest in this country and will look for alternative places to invest in, such as India.
Thanks to the smooth transfer of power in Bangladesh over the last twenty years, this country is the most stable one in entire South Asia. Unlike India, Pakistan, Afghanistan and Nepal, Bangladesh does not have any insurgency movements, not since the Indian trained and armed Shanti Bahini joined the mainstream politics during the previous Awami League government. All Bangladeshi governments have strictly monitored the ultra religious groups and have successfully curbed their anti social activities. Bangladesh is also the only country in the region where these ultra religious groups do not enjoy any popular support. This is borne out by the fact there was massive popular support for the judicial execution of the entire JMB leadership a few years ago.
Furthermore, unlike Pakistan, Afghanistan and India, Bangladesh does not suffer from any ethnic or communal problem, there are no secessionist movements and American presence, influence and connivance, the main causes of Al Qaeda attacks, are also absent in this country. Much as Indian intelligence and media would like to, Bangladesh can not be grouped with these three countries where Al Qaeda is concerned. Yes, Bangladesh has its share of religious trouble makers similar or less than those of most countries of the world; but infinitely less than both Hindu and Muslm radicals in India and Muslim radicals in Afghanistan and Pakistan.
With the rise of the Maoists who are actively exposing the economic backwardness of eastern India, Delhi can ill afford a vibrant and prosperous economy in its contiguous country Bangladesh in the east. Yes, Bangladesh has its political problems with its two major political parties always fighting with each other on trivial issues, but this did not deter the Bangladesh economy to grow, thanks to its private sector, at a rate of about 6% over the last two decades. The most fascinating factor here is that unlike India and Pakistan where economic growth is foreign investment driven, Bangladesh's growth is entirely domestic finance driven.
Bangladesh is a maverick, it is unique. It is one of the very, very few countries whose economy, although export driven, was relatively unscathed during the global economic meltdown. Its stock exchanges, although very small, performed superbly, second only to the Shanghai Stock Exchange. These fabulous success stories are overshadowed by the negative media blitz of quarters that do not want to see the emergence of Bangladesh as a regional economic powerhouse. Unfortunately, as no government in Bangladesh has been able to project a vibrant positive image of the country, it is up to the local business community to rise up to the occasion and announce to the world that the Bangladeshi economy has arrived on the world scene and is ready to receive their investments safely, with a promise of returns that can not be matched by any other country in the world.
