Thomas Friedman’s bestseller The World Is Flat highlights the strong forces pushing the world towards a single economic platform. The technology-fueled globalization in the provision of services, and the widespread organization of production processes as global value chains are part of his narrative.
As the Carnival in Brazil kicked off last weekend, Brazilians were ready for a party. They have reasons to celebrate. Despite a lackluster GDP performance in the last two years, unemployment rates remain at record low levels.
Today, we're launching an online discussion on Exports in Bangladesh at the World Bank Bangladesh facebook page. Through the online discussion, we hope to hear from YOU on how Bangladesh can accelerate and diversify exports in order to achieve its aim of becoming a Middle Income Country.
Dr. Sanjay Kathuria, Lead Economist, World Bank Bangladesh is answering your questions and moderating the discussion. Let us know what you think!
What? Exports in Bangladesh: How can Bangladesh accelerate and diversify exports?
When? Today, August 07, 2012 (12:00 AM – 11:59 PM Bangladesh time)
Helping African exporters survive in international markets should be a high-priority item on the agenda of development agencies. African exports suffer from high “infant mortality” compared to other regions of the world: Figure 1 shows that the life expectancy of export spells originating from sub-Saharan Africa is about two years (half the level for East Asia and the Pacific), with a median—not shown—around one year. That is, half of the continent’s exporters don’t make it past the first year. Such “hit-and-runs” on international markets cannot establish networks, relationships, and credibility.
Figure 1: Average Spell Survival, by exporting region
Source: Author's calculations, from COMTRADE data
|Umbrella factory in Chiang Mai (courtesy of rustybadger under a Creative Commons license). Thailand's workers need to contribute more complex tasks to the su|
How China’s current account surplus will evolve in the coming years is one of the key questions on the economic outlook, both for China itself and for the global economy. China’s increasingly competitive manufacturing sector will continue to power ahead, to expand exports and to gain global market share. At the same time, China’s domestic economy should continue to grow rapidly, thereby drawing imports. However, how this will on balance play out with regard to the current account surplus is less certain. It will largely depend on how much progress is made with rebalancing the economy.
China has been the fastest growing country in the world over the past two decades and as it gains economic clout, it is worthwhile to envision where the country is going and how it has gotten to where it is today.
In 1990, while China was home to 20 percent of the world’s population, it commanded a mere 1.6 percent of global GDP. Now it is the world’s second largest economy and produces 8.6 percent of global GDP (in 2009). Even after that extraordinary leap forward, the country still has the advantage of backwardness and it has the potential to have another 20 years of rapid transformation.
To a tourist visiting Cambodia, or to a French consumer living in Cambodia (whose food habits require a complement of pasta and potatoes), rice will mainly mean the stunning landscapes of rice fields, yellow at harvest time, bright and liquid during the rainy season, with shades of green meanwhile.