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In an article titled "East overtakes West" published on September 7, 2017 the Economist, a reputed British weekly, puts Bangladesh ahead of Pakistan in terms of GDP per capita and containment of population growth.
Last month, it was revealed that the GDP per person in Bangladesh was higher than that in Pakistan. Converted in dollar at market exchange rate, it was $1,538 in past fiscal year (end-June) for Bangladesh while for Pakistan it stood at $1,470.
A census report on August 25 in Pakistan updates the country's population to 207.8 million, nine million more than previously thought. This makes Pakistan the fifth most populous country in the world. In contrast, Bangladesh's population has been contained at around 162 million by most international estimates. The growth rate per annum here is estimated at 1.4 per cent which is regarded as exemplary among populous developing countries. Bangladesh, of course, needs to firm up its grip on net reproductive rate given the existing high base level of population (especially the young generations).
The new population count in Pakistan has 'lopped 4-5 per cent off Pakistan's GDP per person.' That is the direct upshot of an unbridled population Pakistan faces in a twist of irony for they used to resent 'baby boom' in the then East Wing of the country.
The Economist, however, points to a 'caveat' in regard to the per capita GDP differential tilted towards Bangladesh by as much as $68. It adds that the prices in Pakistan being 'lower', purchasing power per capita will be that much higher. So it dilutes the advantage to Bangladesh. Still, overall, the Economist dubs it a moment of celebration for Bangladesh.
Indeed, the rising trend in per capita GDP in Bangladesh is set to continue because as the Economist notes Bangladesh posted GDP growth rate of more than 6.0 per cent over the past ten years and over 7.0 per cent during the last two years.GDP growth rate in Pakistan is 4.7 per cent ,according to 2016 estimates).
With our population size contained, and efforts to improve the purchasing power parity prioritised vaunted by a creative and bold policy mix , Bangladesh's position as one of the Emerging Next-11 economies along with BRICS is not a question of how but when.
Tracing the origin of Bangladesh's growth, the Economist takes the benefit of hindsight to highlight the huge difference independence has made to Bangladesh. The report harks back to Bangabandhu's words after the 1970 cyclone: They did not (the then central government) "share a bumper wheat crop, and not even a yard of cloth for our shrouds."
Then as the country left devastated in the aftermath of a Liberation war was trying assiduously to find its feet, it was airbrushed with a deliberately tainted image of being a 'basket case' by Henry Kissinger.
But now as a fitting response to the adverse, largely unsympathetic publicity that she had received earlier on, Bangladesh has long since risen from the ashes to become self-sufficient in food with a surplus, to the exception of the current year. But what is more to the point, Bangladesh today exports more readymade garments to world market than India and Pakistan combined.