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China’s technological advancement can deter Bangladesh’s competitive advantage

China remains the undisputed global giant in the textile and apparel industry. Its share of global apparel export is about 37 percent while the share of Bangladesh, the second largest readymade garment exporter in the world, is only about 6 percent. So, it is completely understandable that the actions of China will obviously influence the competitiveness of the other manufacturing hubs like ours.

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The high cost of cheap clothes

On the morning of April 24, 2013, a poorly constructed eight-storey garment factory known as Rana Plaza collapsed in Dhaka, Bangladesh, killing more than 1,130 people in a crush of brittle concrete and rebar. It was the worst industrial disaster in the country’s history, but the toll didn’t end when the building fell. Many later died from injuries sustained in the collapse or were permanently physically disabled. Others developed PTSD or other mental health conditions from witnessing the event.

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Bangladesh should focus on skills development for growth in labour market

For attaining sustainable and high growth rate of an economy and improving the living standard of its people, the role of skill development cannot be over- emphasised. Skill development not only enhances and expands an individual's capacity of earning, the formation has the potential of transforming the nation's workforce into a more productive one and thereby contributing immensely towards the growth momentum of an economy.

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Bangladesh in low growth category in 2025 Global Growth Projections

The Growth Lab at Harvard Univerity's Center for International Development very recently published the new 2025 Global Growth Projections, where Bangladesh was placed in the low growth category. The research organization works with the aim to understand the dynamics of growth and to translate those insights into more effective policymaking in developing countries.

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