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Prime Minister's Private Industry and Investment Adviser Salman F Rahman gave the briefing at his residence. Minister of State for Information Mohammad Ali Arafat...

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What is the responsibility?

The whole world is shaking with the excitement of geopolitics! After Eid-ul-Fitr, Iran’s missile and drone attacks on Israel, many expressed fear that the third world may start directly. Although there is no such fear for now, there are no signs of abating. During the Corona pandemic, the world faced a suffocating situation for more than two years. After that, the Ukraine-Russia war began. Even though this war is not over, the Gaza war in the Middle East has made the people of the world panic. Pandemics and wars have taken the highest toll on the global economy. The vicious cycle in the world economy has not yet ended. Global supply chains have been affected by both these tensions. World trade is still threatened by Yemen’s Houthi attacks in the Red Sea. Due to economic sanctions and counter-sanctions due to the war, inflation has increased throughout the world.

In such a context Bangladesh is also affected like many developing countries of the world. The apprehension about the days ahead has not yet passed. However, in the meantime, Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, a prosperous country in the Middle East, visited Bangladesh. Qatar is a country that has consistently achieved success in world trade, sports, etc. as well as in the field of diplomacy. We are optimistic about the visit of the top leader of such a country to Bangladesh. Seeing all the agreements and agreements signed by the Emir of Qatar, we can hope that Bangladesh will turn around again. Before Corona, our overall situation was promising. If the impact of Corona and war did not touch us, we could have progressed far today without a doubt. Now we have to maintain all kinds of stability.

Our economy needs more time to come out of the wounds caused by the turbulent state of the global economy. Moreover, despite this situation, general elections are being held in half a hundred countries of the world this year. Generally due to national elections, unrest in the country increases. For this reason, economic concerns do not seem to last this year. Those who win the elections can set their own country’s new policies on subsidies, tax incentives, technology transfer, development of artificial intelligence, regulatory measures, trade barriers, investment, debt waivers and energy transition. The dynamics of the global economy largely depend on these principles. If the developed countries follow the path of imposing more controls on trade, investment and immigration, then the underdeveloped and developing countries will be in trouble. If the world trade decreases, the income of the people of different countries will also decrease. This will weaken the global economic growth. As in the 1930s, there is unrest all over the world. He is concerned about climate change and the various equations of the global alliance.

Bangladesh, a country of 180 million people, is trying to overcome the crisis amid all these tensions and worries. In this our growth is supposed to slow down. The World Bank has already predicted that the economic growth rate of Bangladesh may drop to 5.6 percent in the current financial year (2023-2024). It also remains to be seen how successful we will be in paying off foreign debt and reducing inflation. How geopolitics affects geoeconomics is a matter of concern. This is also a concern for the public and private sectors. In this, the message of peace, relief and optimism should be spread as much as possible in the public through initiatives such as increasing employment and purchasing power, reducing corruption and irregularities, establishing good governance everywhere, removing barriers to trade and investment, and increasing investment. Because not despair, people live in hope. What is the responsibility!’- But the addiction of this hope did not leave? I wish that peace returns to the world and wars stop in the world.