This is what you need to know about Bangladesh's remarkable economic rise
As a result of progressive social policies and a bit of historical luck, Bangladesh has gone from being one of the poorest countries in South Asia to an aspiring "tiger" economy. But can it avoid the risk factors that have derailed dynamic economies throughout history?
For example, a thousand years ago, the Arab caliphates ruled over regions of great economic dynamism, and cities like Damascus and Baghdad were global hubs of culture, research, and innovation. That golden era ended when religious fundamentalism took root and began to spread. Since then, a nostalgic pride in the past has substituted for bold new pursuits in the present.
Pakistan’s history tells a similar tale. In its early years, Pakistan’s economy performed moderately well, with per capita income well above India’s. And it was no coincidence that during this time, cities like Lahore were multicultural centers of art and literature. But then came military rule, restrictions on individual freedom, and Islamic fundamentalist groups erecting walls against openness. By 2005, India surpassed Pakistan in terms of per capita income, and it has since gained a substantial lead.
But this is not about any particular religion.
India is a vibrant, secular democracy that was growing at a remarkable annual rate of over 8% until a few years ago. Today, Hindu fundamentalist groups that discriminate against minorities and women, and that are working to thwart scientific research and higher education, are threatening its gains. Likewise, Portugal’s heyday of global power in the fifteenth and sixteenth centuries passed quickly when Christian fanaticism became the empire’s driving political force.
As these examples demonstrate, Bangladesh needs to be vigilant about the risks posed by fundamentalism. Given Prime Minister Sheikh Hasina’s deep commitment to addressing these risks, there is reason to hope for success. In that case, Bangladesh will be on a path that would have been unimaginable just two decades ago: toward becoming an Asian success story.
Fundamentalism is like going back in the development of the human index and have antagonistic behaviors for a holistic development of a nation where all citizen enjoy the fruit of development and being progressive based on scientific development.
The Indian progressive Hindus and Muslims must work together to save the Indian economy being not ruined through rise of saffron fundamentalism.
For complete article by Kaushik Basu follow the below link.
https://www.weforum.org/agenda/2018/04/why-is-bangladesh-booming
