Economists at the launch event of the book “Fifty Years of Bangladesh: Economy, Politics, Society, and Culture,” emphasized the country’s struggle with a low-wage economic trap despite visible development. They pointed out that laborers, including farmers, RMG workers, and migrants, have been the main contributors to economic growth. However, due to institutional dysfunctionality, especially in the banking sector, good governance remains elusive. Professor Rehman Sobhan highlighted the advanced deterioration in the banking system, noting the crisis of bank defaulting. Dr. Hossain Zillur Rahman emphasized the need for investing in quality education to break free from the cheap labor economic trap. Other concerns raised included corruption, inequality, and the need for inclusive economic growth. Looking ahead, the economists stressed the importance of transitioning to high-technology-based production and exports to avoid falling into a debt trap.
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