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"Bangladesh Economy Situation Essay"
Bangladesh Economy Situation Essay
Why is Bangladesh considered to be a Less Developed Country and what needs to happen for this to help it become a More Economically Developed country like Thailand or Malaysia?".

Bangaldesh gained its independence from pakistan in 1971 and as the former Indian state of east Bengal it has always been in severe economic straits. This is principally because it is one of the most densely populated countries in the world and its economy is based chiefly on subsistence farming which has practically ruined the landscape. The country is also prone to natural disasters as it is situated in low lying areas where flooding is a regular occurence and this has an obviously severe effect on the population, most of which lose their homes on a regular basis while millions more are displaced due to these disasters (Lewis 2011).
There was been some effort of late to diversify the economy but a much larger effort needs to be undertaken for this to happen. Other Far Eastern countries like Thailand and malaysia have diversified their economy decades ago, with the former basing its economy on tourism and the latter on financial services (Lewis 2011). However Bangladesh remains at a distinct disadvantage to make this happen as it is a landlocked country and some of its borders are also disputed. The country also suffers from a lack of political stability so it is crucial that this is sorted out first before any attempt is made to really enter the big league where the economy is concerned (Quisumbing 2011).

Diversifying the economy in Bangaldesh
An area which Bangladesh can explore with greater zest is the services industry. With a potential workforce of over 100 million, the country is definitely ready to take on the economic challenge. There already exists a substantial industry in manufacturing where several companies...

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