Build an economy where growth is shared evenly by all: Dr Yunus

Chief Adviser Dr Muhammad Yunus on Saturday called on everyone to build an economy where the ‘fruits of technology and economic growth are shared evenly by all people, not monopolised by a privileged few’.

“As we debate and share our thoughts in this gathering over the next few days, I encourage you to think about how to build a new world, as our youth have set us on a path to create a New Bangladesh,” the Chief Adviser said while inaugurating the ‘Bay of Bengal Conversation’ in Dhaka city.

Urging all to ‘create a new civilisation,’ Dr Yunus said that the present civilisation has failed the inhabitants of the world. “From an environmental perspective alone, it has turned out to be self-destructive. From an economic perspective, it has led to extreme accumulation of wealth,” he noted.

“I am always a compulsive optimist. I always believe in the power of ideas, the power of imagination. I keep on insisting [that] if we can imagine together it becomes irresistible,” he hoped.

 “I am a compulsive optimist. I always believe in the power of ideas and imagination. If we can imagine together, it becomes irresistible,” he said.

Stressing the need for social business, he added, “We need to create a world of three zeros, zero net carbon emission, zero wealth concentration by introducing social business to solve people’s  problems, rather than maximising profit, and zero unemployment by turning young people into entrepreneurs rather than jobseekers, which we do now”.

“Nothing is impossible for human beings if only we pursue it hard enough,” he added.

Describing the July revolution as a ‘unique political upheaval’, he said, “This was a student-led revolution to bring down a fascist regime which ruled the country for last sixteen years.”

He welcomed international guests to ‘a freshly emerged country, calling herself a New Bangladesh to highlight the distance it wants to establish from the old Bangladesh.’

“A hundred days back, nearly 1,500 students, workers, and common demonstrators were killed by the old regime, nearly 20,000 were wounded,” he said, calling on the international gathering to pay respect to ‘all those who sacrificed their lives, those who lost their limbs, eyes, and many physical capacities for the rest of their lives, and those who are struggling with their lives right now’.

He called upon the ‘foreign guests not to miss an historical opportunity to walk through Dhaka streets and watch the walls along the streets painted with the colourful paintings expressing the emotions and aspirations of young people, painted while there was a lull between the killing spree’.

“Anybody watching them cannot but be amazed by the power of the expressions young people came up with, right at the killing fields. There was no designer, there was no central planning, and nobody was funding it,” he added.

About the Bay of Bengal Conversation organised by the Centre for Governance Studies, Dr Yunus said, “This convention is more than just a meeting of minds; it’s a testament to our shared resilience.”

“Bangladesh has always been a land of dreams, hard work, and an unbreakable will. It is more so now, as the aspirations of the revolution are fresh in minds”.

It’s the work of millions of voices, almost the voices of the entire nation, —voices that have demanded change, voices that continue to push us all to build a future based on human rights, freedom of speech, justice, and inclusion”.

He observed that the theme of this year’s convention, “A Fractured World,” resonates deeply with him.

He said, “We live in times marked by challenges and complexities. Whether it’s economic disparity, social injustice, or the threat of climate change, we face issues that are overwhelming.

“And yet, in Bangladesh, we know something about resilience, about facing adversities and creating opportunity from it.

“It’s a lesson I personally learned decades ago, working with villagers, seeing their courage, and being inspired by their strength”.

He mentioned that his grassroots-level experiences taught him that every problem has a solution.

“There may be more than one solution if we have the patience to peel it out, the courage to try, and the persistence to keep going”.

“We know what it’s like to be punished severely for no fault of yours, to face forces far bigger than ourselves. But we also know that when we come together, when we work as one, we have the power to change the course of history like we have done in Bangladesh 100 days back,” he observed.

Referring to the adverse impact of climate change on the country, he said, “Our region is on the frontlines of climate change. Every year, our coastal communities face rising waters and shifting weather patterns that impact lives, homes, and livelihoods. This crisis is not something that can be put off for another day; it’s something that requires our immediate and united action”.

Highlighting the prospects of the country, he said, “At the same time, we are a region of immense potential. Ours is country of the youth. Out of 171 million people half the population is under the age of 27 years. What a great force. This makes the country very powerful in creativity”.

“Our youth have the power to lead the world in sustainable development, to create models of green growth protecting and promoting our environment. But this requires cooperation, courage, and an unshakable belief in our shared future,” he noted.

The Centre for Governance Studies (CGS) organised the 3rd edition of the Bay of Bengal Conversation (BOBC) 2024, an international geopolitical conference.

Chairman of CGS Munira Khan presided over the inaugural session of the 3rd edition of the Bay of Bengal Conversation (BOBC), which was moderated by its Executive Director of CGS Zillur Rahman.

Rahman said that over 800 delegates from home and abroad are participating in this year’s conversation, titled “Fractured World.

Foreign Adviser Touhid Hossain cautioned in his address that if the Rohingya crisis is not resolved immediately, it may destabilise not only Bangladesh but also the entire region.

He lamented that the regional actors capable of influencing Myanmar to resolve this problem failed to do so as they wanted to keep good ties with Myanmar for their own interests.

“There is no light at the end of the tunnel and I don’t think it (Rohingya issue) is going to be resolved very quickly and easily,” he said, adding that each country has its own interests and Bangladesh has become a victim of circumstances.”

The adviser was speaking at the opening ceremony of the Bay of Bengal Conversation at a hotel in Dhaka.

Chief Adviser Prof Muhammad Yunus delivered the inaugural speech at the event.

Bangladesh is now hosting over 1.3 million Rohingyas in Cox’s Bazar and Bhasan Char.

Talking about the roles of India and China, Hossain clarified that he is not blaming anyone as everyone looks after their own interests.

However, those interests do not seem to align with Bangladesh’s interests on the Rohingya issue, which is why the issue has been lingering, and there is no light at the end of the tunnel, said the adviser.

“Unless this issue is resolved, it is going to become an issue for the rest of the world,” he said.

Hossain said Bangladesh has not received the expected level of support from its major neighbouring countries regarding the Rohingya crisis.

“During the last eight years, the amount of or the level of support that we expected from our neighbours, big neighbours, has not been forthcoming,” he said.

China has not forthcoming in resolving the issue on the side of Bangladesh because Myanmar remains very important for China access to the Bay of Bengal, Hossain added.

Similarly, the adviser said, India thinks that the Kaladan project is important, and for this project, it has to keep good relations with Myanmar.

He said Bangladesh has been caught in the crosshairs of competing geopolitical interests.

Regarding growing concerns over the future of the Rohingya youth, Hossain said the young generations who have no hopes for the future are not likely to sit idle and watch what others do.

“There will be a point in time when they will become a serious problem not only for Bangladesh but also for our neighbours and people from far away,” he said.

The adviser said there are three important players—the United States, India and China—in the Bay of Bengal, apart from Bangladesh, where dominance remains an issue.

He said the Bay of Bengal is extremely important for Bangladesh due to the access it offers to the rest of the world and due to its resources.

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