How Bangladesh is Secretly Becoming the Richest Country In South Asia

From Casual Scholar.

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Bangladesh was always supposed to be poor. At the dawn of its existence it was already a failing state. Not only did the war of independence destroy nearly every farm, factory, road and bridge, but it came just 4 months after Bangladesh was hammered with the most destructive tropical cyclone in record history. Yet, even more daunting was the reality that Bangladesh, deprived of considerable natural resources, habitually subjected to catastrophic natural disasters, and haunted by perpetual and often violent political instability, seemed devoid of a clear path toward making things better. It was a widespread perception that Bangladesh was destined to be forever synonymous with poverty and suffering, earning it the unflattering label, as an “international basket case”.

But Astonishingly, against all conceivable odds, the past three decades have seen the country achieve, perhaps the most significant advancement in quality of life indicators of any place in the world, ever. Life expectancy has soared by 180%, while fatalities from tropical cyclones have been reduced by a staggering 100-fold. Poverty rates have dived from 80% to less than 19, while the child mortality rate has been cut by 92%. Its economy has emerged as one of the fastest growing in the world, with its GDP per capita once 50% less than Pakistan’s now almost 50% higher. And In 2019, it overtook even India, all while harboring aspirations of reaching high-income status by 2041. But how can a nation with all the odds stacked against it improve at such a blistering pace, Is this truly another economic miracle or a mirage that will painfully wither away.

– Contents of this video ——————————–
00:00 – Bangladesh’s Economic Miracle
04:17 – A Broken Nation
08:51 – Military Rule & Reforms
13:20 – A Laboratory for Poverty (NGO’s)
18:15 – The Boom
25:08 – The Worry

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– Sources used ——————————–
Bangladesh: Politics, Economy and Civil Society By David Lewis
World Bank used for graph statistics
https://www.economist.com/leaders/2023/03/02/is-bangladeshs-admired-growth-model-coming-unstuck
https://www.economist.com/asia/2023/03/01/bangladeshs-economic-miracle-is-in-jeopardy
https://www.economist.com/leaders/2021/03/27/bangladeshs-growth-has-been-remarkable-but-is-now-at-risk
https://www.npr.org/2022/11/09/1134543648/bangladesh-economy-imf-loan
https://www.economist.com/asia/2023/05/24/sheikh-hasina-is-asias-iron-lady
The Bangladesh Economy Navigating the Turning Point by Kaushik Basu
https://www.economist.com/asia/2023/05/24/sheikh-hasina-is-asias-iron-lady
https://www.economist.com/briefing/2012/11/03/the-path-through-the-fields
https://www.economist.com/asia/2017/09/07/bangladeshs-gdp-per-person-is-now-higher-than-pakistans
https://foreignpolicy.com/2020/11/28/bangladesh-is-everyones-economic-darling-it-might-not-last
https://www.brookings.edu/opinions/why-is-bangladesh-booming/
https://www.brookings.edu/blog/future-development/2021/07/09/bangladeshs-remarkable-development-journey-government-had-an-important-role-too/
https://www.cgdev.org/blog/bangladesh-growth-miracle-or-mirage#:~:text=The%20sources%20of%20growth%20Bangladesh’s%20growth%20stems,over%206%20percent%20of%20GDP%20(Figure%202).

#Economics #History #Bangladesh #CasualScholar #EconomicHistory #BangladeshHistory