Opportunities and Challenges of Globalization for Bangladesh
Recent Trends in Design and Manufacturing Technologies (RTDMT - 2005), Kumaraguru College of Technology, Coimbatore, Tamilnadu, March 17-18, 2005
11 Pages Posted: 18 Nov 2008 Last revised: 10 Jul 2014
Date Written: March 17, 2005
The essence of economic development is the transfer of technology from the industrially advanced country to the developing world like Bangladesh. It was argued that knowledge is a heritage of humanity. None should block its spread, as it blocks progress and prosperity particularly for the poor of the world. Not much has happened to cheer in this regard. One of the ways the multinational companies exploit the developing countries is by transfer pricing - showing higher invoice prices of raw materials imported from its own plants elsewhere and thus transfer in hard currency its undeclared profit. Another widely used practice was to produce a good number of commodities and sell the substitute competing products of developing countries at a price lower than the cost of production of the latter's products. Jute and synthetic substitutes were an example of such unwholesome marketing policy. The control and regulation of these multinational companies were urged on the advanced countries for healthy development in trade and investment. For the sake of development of their multinationals, developed countries have introduced Globalization whereas developed country have got the maximum benefit from it. However, after open the its market and globalize his business, Bangladesh may introduced as a beneficiary country or nor. This is why, the researchers tried to focus on secondary writings relating impact of globalization in Bangladesh to find out the real challenges and opportunities for Bangladesh through Globalization in International market.
Keywords: Keyword: Globalization, Challenge, Bangladesh
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