Bangladesh is restarting its economy
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 8 August 2024
⏱️ 7 minutes
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Summary
From the BBC World Service: Following weeks of protests in Bangladesh, a new interim prime minister is being sworn in and the economy is reopening, including the crucial garments industry. Then, three Taylor Swift concerts have been canceled in Vienna, because of security concerns. It’s a big disappointment for local businesses expecting to benefit from Swiftanomics. And would you volunteer to pick up trash while on vacation? Copenhagen is incentivizing visitors to do so.
Transcript
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| 0:00.0 | After weeks of unrest, Bangladesh is restarting its economy. |
| 0:06.2 | Hello, this is the Marketplace Morning Report live from the BBC World Service. |
| 0:10.2 | I'm Leanna Byrne, and thanks for tuning in. |
| 0:13.2 | We begin in Bangladesh where the country's temporary leader Mohammed Yunus is being sworn in today |
| 0:18.1 | after weeks of unrest that led to the resignation of Prime Minister Sheikh Hasina. At least 400 people were killed in the protest. the now reopening including the crucial garments industry. The BBC's |
| 0:34.3 | Archinna Shukla has been following this. Hello. Hi Leanna. How significant is |
| 0:38.8 | this industry? It's quite a big deal that it's back up and running isn't it |
| 0:42.1 | because it's such a huge part of the |
| 0:43.3 | economy? Well yes for Bangladesh the government sector is definitely a lifeline |
| 0:47.6 | for the economy. It's their largest dollar earner about 83% of the country's exports are of governments. |
| 0:56.1 | So you can imagine the impact it has on the country's balance sheet. |
| 1:00.4 | About 4 million workers are employed in the sector. |
| 1:04.4 | Even a day of shutdown means losses. |
| 1:06.9 | It means loss of wages for the domestic workers. |
| 1:09.5 | And it also means disruption in the global government supply chain because Bangladesh as a country |
| 1:16.5 | is the third largest supplier, an exporter of clothing after China and European Union. |
| 1:22.2 | So a large part of the global fashion industry is dependent on Bangladesh. |
| 1:26.2 | So both domestically, as well as globally, it's crucial. |
| 1:30.3 | So how long do you think things are going to take to get back to normal? |
| 1:33.2 | Well in the last couple of weeks there have been about eight to ten days of |
| 1:37.4 | disruptions as far as factory production is concerned but as far as |
| 1:41.6 | yesterday about 70% of the factories had reopened. |
... |
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