Bangladesh economy

By Ifty Islam of Asian Tiger Capital

A “patient in intensive care” or a “slow-moving train wreck” – I’m not sure which of these analogies best describes the state of democracy in Bangladesh – maybe both? But there can be little doubt that after a tumultuous 2013, the country’s political system is in trouble and a majority of country’s 160m people are desperate for a solution and end to the mindless violence.

The human tragedy in terms of hundreds of innocent civilians being killed – including many burnt to death by petrol bombs thrown at buses and trucks, and thousands injured, has been horrific. But the extent of polarisation between prime minister Sheikh Hasina and opposition leader Khaleda Zia and their increasingly bitter and entrenched “no compromise” mindset is perhaps the most worrisome aspect of the current crisis. Continue reading »

Five months after the Rana Plaza factory collapse that left more than 1,100 dead and caused international outrage, Bangladesh is trying to improve the working conditions of its garment workers and allow for greater labour representation. The FT’s Ben Marino reports from Dhaka.

The US has suspended preferential access to its market for Bangladesh because of what it sees as slow progress in enforcing heath and safety standards in the country’s largest export industry, ready-made garments, following the Rana Plaza factory disaster (pictured).

The move, announced by the Obama administration on Thursday, could damage the international reputation of the garment industry and hit Bangladesh’s exports. Continue reading »

Never give up hope: soldiers digging through the rubble of the Bangladesh factory collapse say a woman has been found alive 17 days after the disaster, the BBC reports.

That’s one life against the 1,000-plus that have been lost. It’s just very unlikely there will be more survivors to add to the 2,500 people who have escaped death. It’s virtually certain there will be more bodies. But rescuers deserve every credit for perseverance. Continue reading »

The deadly fire at a clothing factory in the Bangladeshi capital Dhaka in November, in which 117 workers died, could have consequences for the country’s exports as well as for its tarnished reputation as a manufacturing power. Continue reading »