Economy of Bangladesh, Top News

Bangladesh has gained quite a lot due to this phenomenon. Its impact on country’s communication, economy, and technology is incontrovertible. With the developing technology, and over smart transportations system, communication sector of Bangladesh has reached its peak.

Globalization is essentially the expansion of commerce and trade of countries. However globalization has hundred other effects on any country and its people. Bangladesh is no different. With high tech communication and rapid transportation system, the term globalization has reached billions of people and made them share anything in just minutes. The phenomenon has crossed its own barrier and spread in terms of relationship of nations, domain, trade and corporations.

Bangladesh has gained quite a lot due to this phenomenon. Its impact on country’s communication, economy, and technology is incontrovertible. With the developing technology, and over smart transportations system, communication sector of Bangladesh has reached its peak. Now the news of one corner of the country can reach the other almost instantly. Deliveries are only a matter of days, and conversation with any one in any corner of the country is simple and possible at a very low cost; even when compared to other countries of the world. This part of the affect of globalization is strongly dependent of the technological sector. Not only news and information from one part of the country is easily accessible to another part, but also information and news from overseas is easily accessible and available at a very low price.

Modern technology and the affect that globalization has bought to it also changed the banking and financial system; now foreign remittance can be received within minutes. Many people are taking advantages of it and contributing to the economic growth.

Interestingly, all issues that have been affected by globalization are very much inter-related. For example the economy has been affected from various perspectives. The technology that brings remittance also has a huge contribution to the development of the economy. The removal of a border in the market increases the GDP of the country. Improvement of technology and communication has helped garment industry to export more efficiently and thus also contributing to the increasing GDP. Due to a lot of other factors such as variety of exports, investments and employment there has been a significant success in the EPZs and elsewhere in the country.

With the success in international tournaments of various sports there has also been significant improvement in international relationship for Bangladesh. The participation through live broadcasts of the games brings worldwide recognition not only of the player but also the country. This is again interrelated with technology as is education.

The factors that has been affected by globalization are so many in quantity, it is seen everywhere every day. Starting from culture to people’s mentality, the term globalization has been so thoroughly integrated into the people’s mind and is continuously helping in the increasing Human Development Index. The more Bangladesh take benefits of globalization, the better it is for its people, economy and future.