Not going on the topic of who are these guys let's discuss why they do so.
They understand the best about how much threatening a terrorist attack for the economy of a country which is literally under construction. This is the reason behind their yammering.
Terrorist attacks directly affect foreign investments. Indirectly it affects those industries which are mainly export-based and mega projects connected with multi-national companies or international helping agencies by PPP. A rocket speed economy can come down to tortoise speed. It's a symbol of Bangladesh's success that Bangladesh has successfully done with building the graveyard of terrorism.
[Not gonna talk about the internal political phenomenon because it takes two to make a quarrel. ]
Whatever, let's come to the real discussion. Diving into the sea of success there's an ineffectiveness that's like a drop of kerosene in a bucket of milk. That is, "We couldn't diversify our economy. "["Bangladesh need to diversify their economy"]
This one sentence often comes into my ears from foreign economists, journalists & political analysts. Most discussed issues *Dutch Disease* won't suffer Bangladesh, even China won't suffer Bangladesh. Then about which encroachment I'm talking about that can trap Bangladesh into the middle-income economy like Brazil by kicking Bangladesh out from their vision in the near future?
Not gonna discuss that because let the encroachment take its place in the reader's imagination but the causes of this kind of encroachments are mainly administrative mismanagements and mass technological developments of the developed world.
Mismanagements:-
To attract foreign investments One-Stop Service has launched when a huge amount of German investment crush landed on other South Asian countries just because of administrative complexity. Again it takes a long time to get utilities and the conservative outlook of government has constricted the whole thing. It has gone too far that without new German Ambassador not even a single Bangladeshi official opened mouth.
Technological developments of developed countries, of course, a great threat for our economy because our RMG(Ready Made Garments) sector is fully labor-based and the contribution of RMG to our export is nearly 90%.According to intelligence reports, western countries continuously conducting research on how to go to mass production of RMG with laborers by advanced technologies. So, if we just sit back and think about when China will shift their RMG to Africa and when Bangladesh will suffer from Dutch Disease then we are doing a terrible mistake. By this time developed countries will mostly shift RMG industries and we'll be just watching the show.
Whatever 2019 has just passed thinking about the reduction of RMG's contribution to our export as well as the economy and diversifying our export products. But in the end, I'm seeing we couldn't even make out the biggest opportunity like the US-China trade war!
The author is a student at Department of Criminology, University Of Dhaka.
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