Impact of Globalization in Bangladesh

Topics: Economics, Capitalism, Economic system Pages: 2 (328 words) Published: February 6, 2009
The impact of globalization on poverty in Bangladesh

The contemporary global debate on globalization and its multi-pronged impact has a strong echo in the academic and political discussions in Bangladesh as well. After a hesitant start in the mid-1980s, Bangladesh moved decisively to embrace the wave of globalization in the 1990s. Globalization is viewed purely in its economic dimension as increasing integration of a national economy with the world economy through exchange of goods and services, capital flows, technology, information, and labour migration. Many researchers contribute globalization to the downfall of the poor across the globe but it can be pro-poor if a government implements the correct policies and instructions.

Developing countries like Bangladesh with vulnerable geopolitical location and weak economy are now dependant on globalization to strengthen their economy and to fight any upcoming threats. The agenda of our economical sectors and upcoming debt are formulated by western dominated organizations, which run the process of economic exploitation of our country. Ever since, the impact of globalization on the economy of Bangladesh and, more pointedly, on the lives of its people, has become a hotly debated issue.

A closer look at the globalization will show that it has both positive and negative impacts on the economy of Bangladesh. A thorough understanding of the effect of globalization is needed to maintain a sustained growth in the face of likely economic peril. It brings changes on the living condition, status of the poor and rural people. The garment sector opens the door of sufficiency to the people who previously lived in a hurdle condition. The most beneficiaries are the women who were deprived from the society but now they have power to earn. This economic revaluation is not only creates a skilled sector but also gradually decreased unemployment problem. This paper attempts to take a fresh look at the impact of...
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