Expansion of BD economy
BANGLADESH became an independent country 50 years before, with negligible funds for economic development. It started progress with negative GDP growth rate minus 5.5% in 1971 and now it has achieved 8.17% in 2019. Thus, the country has become destined and also becoming the reference in the future economy of Asia. Dr Henry Kissinger, National Security Advisor of the US at that time, derisively referred to the country as a basket case which is a term used to describe a country or an organization whose economic situation is very worse. Also, many scholars and analysts feared that the country would remain a ward of the global community acutely dependent on foreign aid. Despite the dire expectations, Bangladesh has in fact made significant progress in reducing poverty and in promoting economic growth among South Asian economies. Thus, emerged as a rising star. The country has made strong trade relations with the US, European Union, India, Australia, China, Japan and ASEAN. From 1971 to 1976, Bangladesh had followed socialist policies. Onto the regime of the later governments, the private sector of the country was remarkably promoted; also, the free markets were restored. In 1991, Bangladesh adopted policies related to economic liberalization to which as a result many corporate sectors took charge of the economy and the private sector expanded rapidly. Bangladesh is probably the country that comes to mind when we talk about economic progress of a developing state. According to International Monetary Fund (IMF), its per capita income was $1969 in 2020 compared to $134 in 1971 and out of 166 million people, only 15 million live below the poverty line which is 1.90$ a day. But compared to Bangladesh a decade ago, the country is already on the upswing. Since 2009, Bangladesh’s economy has grown by more than 6% per year and its GDP per capita has almost tripled. In addition, the rate of extreme poverty in the country has dwindled from roughly 20% to just under 9%.
India targets net-zero carbon emissions by 2070, says Modi
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
COP26: What climate summit means for one woman in Bangladesh
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Why China's climate policy matters to us all
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
Deliver on promises, developing world tells rich at climate talks
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.