Risks and Challenges
Much of the recent growth and development in Bangladesh has been narrowly based; it has been primarily propelled by what is labeled in this study as the four drivers of development: ready-made garments; international migration and remittances: agriculture; and nongovernmental organizations. While these drivers have served the economy well in the past, their robustness is likely to be challenged in the future. This chapter identifies a trifecta of major risks, which are exogenous to the government and largely beyond its ability to manipulate. These are rooted, first, in the rapid changing technology in robotics and artificial intelligence; second, in the evolving global political and economic environment; and third, in climate change and natural disasters. Going forward, for sustained growth, the country needs to further diversify, which will require addressing various social, political, policy, and institutional challenges facing the economy, including poor governance, inadequate physical infrastructure, skill and educational bottlenecks, demographic burden, dwindling social capital, and lack of transformational leadership.
KeywordsAutomation Climate change Arabization Grant financing
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