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Write an essay on “BREXIT” and its impact on Bangladesh Economy.

Created: 1 year ago | Updated: 11 months ago

BREXIT and its impact on Bangladesh Economy

Brexit is an abbreviation for "British exit." which refers to the June 23, 2016, referendum whereby British citizens voted to exit the European Union. The referendum roiled global markets, including currencies, causing the British pound to fall to its lowest level in decades: Prime Minister David Cameron, who supported the United Kingdom remaining in the European Union, announced his plans to step down in October 2016, as a result.

The European Union represents 6% of the world's population But it accounts for more than 20% of global imports and exports. The EU emerges as the leading trade power in the world today. As such, it exhibits a strong interest in creating conditions in which trade can prosper. The European Union is specially committed to supporting developing countries' efforts to integrate into the trading system and to help them reap the benefits of market opening, giving them a hand where needed (Europa, 2004). The European Union applies this particularly trade policy to the poorest countries, for which the of globalization remain elusive. Furthermore, the European Union aims at free but fair world trade. The EUs trade policy now covers a broader canvas, beyond trade liberalization. It is about updating and improving international rules and giving trade partner countries a wider coverage to ensure fair trade and harnessed globalization.

Like the other LDCs, Bangladesh gets more trading benefit from the European Union. The EU works closely with Bangladesh in the framework of the EU-Bangladesh co- operation agreement since in 1976. This agreement provides broad scope for cooperation extending to trade and economic development, human rights, good governance, and the environment. Enhanced market access to the EU and an improved trading environment, the EU has provided the Generalized System of Preference (GSP) for Bangladesh. As such Bangladesh always enjoyed the advantage of duty and generally quota free access to the EU market. Export sector of Bangladesh has undergone structural changes in the decade of 80 in the last century with a significant shift from jute-centered exports to readymade garments and knitwear. The main items that Bangladesh exports to the EU are ready-made garments (90%), frozen food (6%) and others (4%) cover leather and leather goods, pharmaceutical product, and tea RMG, ready-made gurment, industry has virtually thriven in the competitive advantage of a quota free access to the EU market. Moreover, the EC's autonomous decision to grant dury and quota free access to all products produced in the less developed countries (with the exception of arms) comes up with new perspectives for Bangladesh. The main imports from the EU consist of transport equipment, textile and textile articles, food stuffs, beverages and tobacco, machinery and appliances, and chemical products. The balance of trade with EU, over the years, remained hugely in favor of Bangladesh.

Conclusion: The United Kingdom has finally decided to leave the European Union (EU) as per results of a referendum. Although it is still too early to predict the fallout of the Brexit which means British exit, it's true that the tumbling of the British pound to a 31- year low will affect trading of like It's true that it could put a negative impact on the Bangladeshi exports to the UK, which is the third largest export destination for Bangladesh products.

Bangladesh would have to go for bilateral negotiation to avail trade facilities. But then if the Brexit brings positive results for the economy of the UK it would not hit Bangladeshi exports, but if the exit leads to any adverse impact on the economies of the UK and the EU then the South Asian country. Bangladesh enjoys duty-free benefits for all products and flexible rules of origins for readymade garments in the EU. Due to Brexit, Bangladesh would have to need bilateral agreements to avail the the UK. If any crisis takes place in the economy of EU and UK due to Brexit, it will hit hard Bangladeshi export business. 

9 months ago

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7 months ago

Cluster Villages

 

A majority of the Bangladesh population are farmers who are settled in villages. They toil to make both ends meet and produce crops for the entire nation. Bangladesh has about 68,000 villages, which are scattered throughout the country.  A village is called the rural part of the country. It is called rural because it does not have modern facilities like cities. The main occupation of the villagers is farming. They are the primary source of the nation's agricultural production.

 

Description of Villages

Villages have either tiny hamlets of thatched huts or large settlements of tiled roofs, stones, and brick homes. An impression has been created by artists and filmmakers that an Indian village is a simple cluster of mud-plastered walls, shaded by trees, overlooking the large expanses of green fields with a few people moving slowly and of course, bullock carts. They portray a village woman with a pot on her head and walking gracefully, her skirt swaying gently. The reality is that a village is the hub of nonstop activity, with their stronger work ethics. Agriculture is tough and requires hard work. The villagers work very hard and are always trying to find innovative methods of growing wheat, rice, and lentils. 

 

Importance of Village

The village is important because it is the primary sector of agricultural production for our country. The village is the backbone of Bangladesh economy. It also plays a major role in maintaining the ecological balance of the environment. Villages are mostly covered with trees and plants. They are covered with green grasslands. One can see acres of green fields as far as the eyes could see. They provide shelter to many animals. 

Life in Village

The village life is full of contentment and happiness, as people are not in a hurry like in city life. Village people live a very simple life. Villages are mostly situated far from the hustle and bustle of urban civilization. The beauty of nature can be experienced in a village as it is surrounded by trees, flowers, mountains, streams, and farmlands. There is no pollution in the village and one can feel the freshness in the breeze. The demands of the villagers are not too high but they are still deprived of basic facilities. Clean drinking water, electricity, health center, schools, proper sanitation are a few facilities that are lacking in the villages. Their poverty is always visible in the atmosphere. 

Conclusion

My village is a small abode for happy people.  Here they live in harmony and peace. The village people are very hardworking and thus they must have a good source of upliftment. Like the village’s schools and clinics should be maintained and increased in number. The farmers should be facilitated by helping them to leverage their sales, make them notified about the modern techniques used in farming, and give them compensation and knowledge of the true market price of their crops. Thus, I would request governmental authorities to come forward and uplift the medical, educational, and farming facilities in the village.

7 months ago

Problems of urban living in Bangladesh

Cities in Bangladesh are faced with the challenges of rapid population increase characterized by crises such as lack of economic dynamism, governance failure, severe infrastructure and service deficiencies, inadequate land administration, massive slums and social breakdown. However, urban centers continue to grow, despite the severity of these obstacles. As a result, urban areas in Bangladesh have exceptionally high population density, but relatively low economic density. High population density, combined with rapid urbanization, implies a large and fast-growing urban population to manage. Dhaka city, the largest urban conurbation in Bangladesh, is one of the most densely populated urban areas in the world. However, the economic density of Bangladesh’s urban areas (GDP or value-added per square km) is relatively low from an international perspective. Economic activity is concentrated in Dhaka and Chittagong. About 9% of the Bangladesh population lives in the Dhaka metropolitan area, which contributes to 36% of the country’s GDP. An additional 11% of the Bangladesh GDP is generated by Chittagong, the second-largest city and home to 3% of the population. The economic gap between Dhaka and Chittagong compared to other medium  and small-size cities is large and widening.

 

Bangladesh needs to build an urban space that is capable of innovating, is better connected and more livable in order to make cities competitive. Bangladesh’s urban space is falling behind in all three of these drivers of competitiveness. The Dhaka metro area needs to evolve into a diversified economy with skilled human resources and an innovation capacity fueled by the cross-fertilization of ideas typical of large metropolitan areas. Dhaka metro area also needs to be better connected internally and with its peri-urban areas, and both Dhaka and Chittagong have to strengthen their connection to the global economy. Improved connectivity within Bangladesh’s system of cities is also important for productivity and export competitiveness. The development of an economically dynamic urban space, in particular in the Dhaka metro region, has occurred at the expense of livability. The livability of the urban space will become an even more binding constraint to sustained growth as Bangladesh transitions to a new business model based on higher-value industries and services, which need a highly skilled and internationally mobile workforce. This  is a tall order for Bangladesh, but planning needs to start today for Bangladesh’s cities to become more competitive in future.

 

Urbanization have crucial role to play in the economic development of Bangladesh. The circumstances under which population in Dhaka and Chittagong are growing without proportionate infrastructural development will begin to wipe out most of the gains associated with urbanization. That is, relative high levels of urbanization may not be sufficient to ensure higher levels of economic welfare in Bangladesh. This has happened in Latin America with levels of urbanization, above 80%, yet with real per capita incomes about a third that of developed nations. It could happen in Bangladesh as well unless the urban managers rise from their prolonged slumber.

8 months ago

My school days

School is said to be a temple of knowledge, the very first place that introduced you to the world and more so your own self. My school life is all about the memories I deeply cherish. The memories of not only the fun, friendship and all the sport and extracurricular but also the way it helped me find my interests. I owe it all to my school life. It has made me who I am today.

My school life has been full of different experiences over the years. It gave various opportunities to develop not only my scholastic abilities but also the art and sport side. It supported me in my sports as well as exposed me to numerous types of people. All of this accounted to make me understand how to behave socially and in building a personality which I have today.

There are numerous things that make school life the best phase in one’s life. All of this eventually is because we are young to do mistakes again and again till we realize, dumb enough to not think about people and do what we feel like doing, curious to know everything we can and most importantly still not exposed and contaminated with the evil feelings of this world. And all of this makes us build a personality of our own.

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