The Boon and Bane of LDC Graduation: The Bangladesh Experience

By Iftekhar Ahmed ChowdhurySINGAPORE, Feb 22 2021 (IPS) Bangladeshis at the present time share a modicum of justifiable pride in the fact that the world merits this country worth watching in terms of its economic potentials. To my mind , we have reached this stage for the following reasons: First, effective utilization of early foreign assistance; second a steady ,albeit sustained, move away from a near -socialistic to an open and liberal economy; third , a shift from agriculture to manufacturing as land-space shrank to accommodate urbanization; fourth , an unleashing of remarkable entrepreneurial spirit among private sector captains of industry, as evidenced in the Ready Made Garments industry: fifth, the prevalence of a vibrant civil society intellectually aiding the social transformation with its focus on health, education, and gender issues: and finally ,a long period of political stability notwithstanding the traditional predilections of Bengali socio-political activism. Dr. Iftekhar Ahmed ChowdhuryThe philosophical underpinning behind the concept of ‘Least Developed Countries’ (LDCs) devised at the UN in the 1960s was to identify a set of States whose impediment to development was structural, and not due to their own faults. Hence the idea that the global trading system needed to be adjusted by providing these nations ‘special and differential treatment’, such as entailed in non-reciprocal preferential market access. This would, hopefully, creat...
Source: IPS Inter Press Service - Health - Category: International Medicine & Public Health Authors: Tags: Asia-Pacific Civil Society Development & Aid Economy & Trade Education Food & Agriculture Gender Headlines Health TerraViva United Nations Source Type: news

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