| From 'Mills to Malls' |
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Prof Anu Muhammad ~ STWR Member
Abstract [There are two major interpretations of the term Globalization. The first, and the mainstream view, takes globalization as rational outcome of global economic 'progress'. Second, and dissenting view, gives more emphasis to the power and ownership aspects of the globalization process. This paper argues that the globalization process embraces elements of both the views, which is essentially capitalism, advancing on a world scale and is integrating peripheral economies into a single global system. As a peripheral economy Bangladesh has become more marketized, more globalized, and more urbanized; and in the process it now has a good number of super rich and increased number of uprooted poor people. Role of the state in major policy formulation is found marginal. Criminal activity, including grabbing public resources, became the main mode of capital accumulation. In this paper, an attempt has been made to understand the integration process of Bangladesh economy with the global economy. Alongwith historical overview of the country, quantitative and qualitative changes in different sectors of the country has been analyzed to identify the main trends of the economy and society.] Introduction The concept of 'Globalization' has the ability to indicate certain recent phenomena but it also has the ability to hide certain relations and conflicts within World economic/political system/s. It appears that the all embracing term 'Globalization' has replaced, especially in the recent years, many of the earlier economic and political discourses. It is fair to say that the ideas, programs, initiatives, planning and monitoring under the current phase of Globalization project have usurped most of the earlier development thinking in policy- making level, both within the State or Multilateral global agencies. There are two major interpretations of the term Globalization. The two appeared to conflict with, and even oppose, one another. The first, and the mainstream view, takes globalization as rational outcome of global economic 'progress'. This view describes it as a process of (i) 'expansion of free trade' (ii) 'more integration of all economies of the world' (iii) 'more communication amongst different regions' (iv) 'faster diffusion of knowledge' (v) 'increasing mobility of capital and labor' (vi) 'increasing competition' and (vii) 'emergence of global economy-global market'. They believe that there is no alternative (TINA) to this. Second, and dissenting view, gives more emphasis to the power and ownership aspects of the globalization process. It looks at the process as being increasingly dominated by Multinational Corporations (MNC) and Global Institutions (GI) like the World Bank (WB), International Monetary Fund (IMF), and World Trade Organization (WTO). Thus, according to this view, present globalization process is in fact the manifestation of the monopolization of power by large corporate entities, which are mainly centered in the North. They also argue that the worldwide expansion of the capitalist drive for profit has endangered environment, people's lives, local authority, biodiversity as well as diversity of culture. They also insist that an alternative to the present globalization process is there, a real and peoples globalization is only possible by coming out of global power. I would like to argue that the globalization process, in fact, embraces elements of both the views. It is essentially capitalism, which is advancing on a world scale and is integrating peripheral economies into a single global system. Since the last decade, when the globalization got the coin, world trade has been expanding, most of the economies have got more integrated into single global economic system, information and communication system have developed at a faster rate because of the rapid development of information technology; now the opportunity for greater diffusion of knowledge has emerged, and capital has become much more mobile. These facts support the mainstream version of globalization. But at the same time, we must not ignore the fact that the mobility of labor could not take place alongwith that of capital, and that competition, in most of the cases, is increasingly being replaced by monopoly or near monopoly situation. Global economy has become more a playing field of big corporate bodies of G-7 countries. Institutions like the World Bank, International Monetary Fund and the World Trade Organization have gained unprecedented authority over most of the nation states. All the processes of integration of peripheral economies into global economy have not been taking place through invisible hand, i.e., free market process. Moreover, the fact is increasingly coming into surface that the present globalization process, directed by corporate bodies and motivated by profit, has further endangered environment, people's lives, common property, local authority, biodiversity as well as diversity of culture. In this paper, an attempt has been made to understand the integration process of Bangladesh economy, a peripheral one in the global capitalist system, with the global economy. Alongwith historical overview of the country, quantitative and qualitative changes in different sectors of the country will be analyzed to identify the main trends of the economy and society. Legacy of Bangladesh Economy and Polity Bangladesh earned its status as an independent country through an armed struggle in 1971. The road map to Bangladesh's emergence as a Nation State began with the partitioning of British India into India and Pakistan in 1947. At that time, Pakistan consisted of two geographically separate territories. The Eastern section, later became Bangladesh, had been experiencing regional and ethnic discrimination in different forms. Pakistan, soon after independence, came under military autocracy, that had been all along ruled by big propertied oligarchy centered in West Pakistan. From the very beginning, Pakistan has been highly dependent on military-civil bureaucracy. Instability in civil governments and perpetual military rule was a reflection of that. It had also consistent patron-client relationship with the political and economic centers of global capitalist system. During the mid 20th century, Pakistan became a test laboratory for the western development theories that emerged during the period of swift decolonisation. Its client position was defined by the Pakistan-US military pact and by a long and decisive involvement of US consultants in shaping Pakistan?s planning, development and institutions. Although formal military rule started in Pakistan in 1958, the military had exerted power from the country?s beginning because of its fragile civil rule and institutions. Martial law, therefore, ?was brought about by men who were already participants in the existing political system and who had institutional bases of power within that system. Long before the coup, the military had been working as a silent partner in the civil-military bureaucratic coalition that held the key decision-making power in the country.? (Jahan, 1972, 52). This concentration of political power was well suited with the concentration of economic power. By 1968, distribution of resources showed a highly skewed picture. According to the then chief economist of Pakistan Planning Commission, ?66% of all industrial profits, 97% of the insurance funds, and 80% of the banks in the country were controlled by some twenty families.?1 And all these twenty families were from West Pakistan. Economic disparities, and regional and ethnic discrimination had given birth to long democratic struggle in the then East Pakistan. That struggle turned into a nine month long decisive armed struggle in 1971 when the (west) Pakistani military junta started barbaric military operation including genocide, rape, and loot against the people of the then East Pakistan. The junta took the path to stop the possibility of transferring power to the newly elected parliament, majority of which was from the eastern part, now Bangladesh. Integration with the Global Economy: Factors and Actors After independence, despite continuous promise and rhetoric, Bangladesh failed to alter the power matrix in social and economic fields that had prevailed in Pakistan period. The structures and hierarchies of civil and military institutions, created during the British rule, were kept intact in Bangladesh; similarly, the legal and judicial systems remained untouched; and the land administration, despite land reform measures taken in 1972 and 1984, remained unchanged until today. During the last three decades, Bangladesh has experienced different forms of governments: civil and military, parliamentary and presidential. Emergency was declared twice (1974 and 1997), Martial Law was promulgated twice (1975 and 1982). During the period two Presidents were killed. Since 1991, elected governments have been ruling the country. A form of non-party caretaker government has been introduced in 1991 to make the elections acceptable to all. Despite the changes in political power and governance and the bloody conflicts among groups wishing to govern, the economic front experienced a continuity of policy and ideology. One of the major factors behind this continuity could be the increasing authority of the Global Institutions (GI) that have been operating in Bangladesh and their decisive involvement in formulating policies and monitoring implementation of these policies. These institutions include the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB), United Nations development Program (UNDP), United States Agency for International Aid (USAID). Initial stage Process of integrating into global capitalism cannot be called as absolutely recent phenomenon for Bangladesh. Bangladesh economy, like other peripheral economies, has been in the process of integration with the world economy for long. During the last few decades, specially since mid fifties the integration process got momentum with the introduction of ?foreign aid? based development projects and huge intervention in agriculture and water resource management under the banner of 'green revolution' in the sixties (see Table 1 for a summary of historical records). After becoming an independent State, Bangladesh experienced a massive increase in 'foreign aid' inflow and related projects. Soon after independence of Bangladesh 'Bangladesh aid consortium? was formed with the World Bank as its head' on the same lines as the Pakistan consortium(Sobhan, 1982). From a review of thirty years of the Bank's assessment of government?s policies, its suggestions and its policy recommendations to the government of Bangladesh, it is clear that the Bank has been consistent in its policy prescription and ideological framework. But it is interesting to note that the Bank always has worked to sell their agenda by keeping government in good humour, always keeping supporting tone to the government?s political agenda, no matter what the political philosophies of successive governments were (Muhammad, 2003). Such diplomacy proved to be an effective sales management technique for global institutions. World Bank's support and agenda Let me retrieve some documents of the World Bank in this regard. In Bangladesh?s First Five Year Plan (1973-78) document, which was explicitly biased towards public sector growth, Bank?s comment was very appreciative! For instance, it termed the ?socialist? Plan a remarkable document and analytically sophisticated (WB, 1974). In May 1975, after establishment of one party presidential rule, the Bank seemed to be happy. It argued favourably for the political change. It asserted that ?recent political changes have strengthened the hand of the Government in its attempts to put down lawlessness, smuggling, hoarding, and blackmarketeering.? They were satisfied because ?slum clearance in Dacca has gone on apace?. At the same time, they had issued mild threats. The Bank did not hesitate to say that, this report indicates a number of economic reforms which Bangladesh must consider urgently. They reminded the government that, .... Bangladesh would need about US$ 1.2 billion of disbursements of external aid in 1975/76. The willingness of donors to continue providing aid in generous amounts to Bangladesh will no doubt depend on its ability to demonstrate, by the implementation of satisfactory economic policies and measures...(WB, 1975). Within three months of publishing the above report a bloody political changeover took place. The President was killed and Bangladesh was placed under martial law. Again, the Bank seemed appreciative of the new government. The reasons given were the same as those given as supporting statements for the ousted government; those included serious efforts for law and order situation. It also stated that, on the industrial side, capacity utilization has improved in a number of sectors, as a result of a more liberal import policy and an enhanced supply of raw material and spares...There has been some movement in the direction of a more market oriented economy?. The report also expressed optimism about the continuity of reform program begun in May 1975, with the devaluation of the Taka and the agreement with the IMF. And finally it supported the new government by including assurances that, ?he new government confirmed that it intended to introduce such further economic reforms as subsidy reduction, agricultural taxation, and import liberalization? (WB, 1976). The process continued and accordingly different policies were born as national policies to echo the global formulation of the global institutions. Therefore it is not surprising that although Structural Adjustment Program (SAP) sponsored by the World Bank (WB) and the International Monetary Fund (IMF) appeared in the 1980s, the programs it covered were being prescribed by these institutions much earlier. The Structural Adjustment Programme, in fact, has brought all of their earlier reform programs in a single fold. From Krug to PRSP Since the early 70s international bodies including the World Bank have been emphasizing poverty related programs. Women related programs got attention from UN bodies since mid 70s. Funding in these areas started flowing which in many ways influence or guide government programs, as did the emergence and quick growth of NGOs. Perhaps, GATT agreement in 1995 was the single most important document that created a global foundation of integrating all economies. Table-1: Programs initiated in Bangladesh by global institutions in different periods:
As a whole the programs, sponsored by the global institutions like the World Bank, IMF etc, have played the key role in accelerating the process of integrating peripheral economies including Bangladesh with the centre economies. Those include:(i) the Green? Revolution (ii) Structural Adjustment Program (iii) ?Poverty Alleviation? Programs (iv) GATT agreement (v) Foreign aid supported trade, technical assistance, reform, consultancy, training and education. The current Poverty Reduction Strategy Paper (PRSP) is the latest in the series1. These programmes also have played crucial role in determining the shape and direction of the economy and creating strong support base amongst ruling classes. The direction of the Economy: polarization, decomposition and new formation During the last three decades, the political economy of Bangladesh has had fundamental continuities while experiencing several changes. Both the changes and the continuities are important to the understanding of the internal dynamics and external effects influencing Bangladesh. As these also show the shaping of the national economy, some selected areas are briefly discussed below. Transition from an Agricultural to Service Economy: Malls over Mills Until immediately after independence, Bangladesh's economy was chracterzed as an agrarian based one. Agriculture accounted for the largest share of both the labour force and of GDP. However, by the end of the century, Bangladesh ceased to have an agricurally based economy. Agriculture?s proportion of GDP came down from nearly 60% to 18%, with fisheries 23% (GOB, 2004). But on the other pole manufacturing has not captured the dominant position either. Service sector, as a whole, has emerged as the single largest sector contributing more than 50 per cent of the GDP. The movement of an economy from agriculture to service bypassing or degenerating manufacturing may not go with the text book notion of development but this is very significant to study direction of peripheral economy like Bangladesh. Growth of Malls has gained absolute authority over dismantled mills. In the process the country abandoned its tag of Adamjee, the largest jute industry in Asia with its closure and replaced that with Basundhara, the largest super market in South Asia. That is however a significant shift. Manufacturing: upward and downward There had been a traditional existence of large number of cottage and small industries in Bangladesh. But manufacturing sector was dominated, in terms of output proportion, by large manufacturing enterprises and public sector since 1972. This public sector emerged out of large and medium enterprises abandoned by the Pakistani big business houses after independence of Bangladesh. During the last three decades, proportionate share of manufacturing in GDP marked a little change. According to the old estimates of GDP, manufacturing was 7.90 percent in 1972-73, and 8.47 percent in 2003, less than 1 per cent increase in average in thirty years. With the new estimates figures go upward but trend remains the same. According to the new estimates in 1995/96 the share of manufacturing in GDP was 15.43, but it decreased to 14.68 percent in 2000 and again slightly increased to 15.97 percent in 2003 (GOB, 2001 and 2004). If we compare share of manufacturing from early 80s with the figure in 2003 than it would show a clear de-industrialization trend (Muhammad et al , 2003). Figures in 2004 show little change. Table 2 reveals different trends of growth for different types of industries. A positive growth is seen for export-oriented ones and construction while a negative growth is recorded for old industries in the country. Since the early 80s, many of old enterprises, public and private, were closed or downsized and gradually replaced by the export oriented ones.2 Due to closure of many large-scale factories and sickness of medium and small enterprises the number of industrial workforce shrunk despite new entry in export oriented garments and EPZs. Table 1: Ups and Downs within Manufacturing Sector
source: Bakht, 2000. Expansion of Trade Bangladesh's external trade has increased manifold. While total trade was 20.65 percent of GDP in 19e73 it increased to 30.77 percent of GDP in 2001(GOB, 2002). Both import and export has expanded, although the trade gap remains high as the volume of imports has increased faster than that of exports. The increase in imports took place consistently with reform measures to liberalize imports, i.e., lowering import duty and removing trade and non-trade barriers. While in 1992/93 the highest import duty was 150 percent, it has since been reduced to 30 percent in 2004. The average import duty comes to 15.65 percent (GOB, 2004). While Jute and jute goods dominated the export trade in early 70s, ready-made garments have dominated since the late 80s, capturing more than 60 percent. Although major export items shifted from agricultural goods to processed goods, (e.g., ready-made garments), it has only 25 percent value added components. Women in Labour Market Women participation in market oriented and income-generating activities were very low in the early 70s. Women in Bangladesh traditionally has been active in both cost saving and income generating activities, i.e., in agri- processing, handicrafts, gardening, poultry and cattle care, management of household, preparing goods for marketing by male members etc. However the activities of NGOs including microcredit during last two decades have actually added inputs to the traditional activities of women and small scale businesses of men. The participation of women in economic activities outside household has been expanding since early 80s. Both push and pull factors contributed in this. On the one hand, family level income has often faced severe crisis due to decline in real wage and stagnation in the demand for male labour. Such crises have pushed female members of the family to work outside the family domain. Moreover, there are many instances when female member is forced to work outside household after male head left facing economic crisis. On the other hand, export-oriented industries (eg., garments sector, shrimp farming) and other export oriented activities, informal sector and growing urban demand for different types of cottage goods and jobs constituted a demand for women labourers (Muhammad, 1998, 2004). Rural Non-Farm Activity Landless labourers constitute a vast majority of the population in rural Bangladesh. Landlessness increased from 33 percent in 1972 to nearly 60 percent in 2000 (BBS, 2002). Given this supply agricultural employment is not capable of accommodating all, or even a majority of them. There are months when demand for agricultural labour approaches zero. Non-farm activity has always been a part of rural life, but population involved in such activities were very small in number. Moreover, non-farm activity remained a family based traditional job. Since 1980, however non-farm employment has grown fast. The jobs include: petty trade, small shop, transports like rickshaw and van, and other non farm daily wage labor. Increase in Market Orientation Rural works program in the sixties contributed to add road connection from countryside to urban areas. Although that paved the way to expand market and market oriented activities, but latter activities remained modest until late seventies. Since then these activities, i.e., production and processing for market and profit, grew fast. This happened not only in crop production, but spread to other areas as a result of institutional, financial and otherwise support. Commercial production increased significantly related to Poultry, Dairy and Fisheries since early 80s. Export oriented production of Shrimp expanded. NGO microcredit contributed significantly to market oriented activities of low income rural people.1 From Multicrop to Monocrop Bangladesh had a rich diversity of crops. For example, there were hundreds of varieties of rice grown. This too has changed. In the process of green revolution IRRI became the maincrop and also effectively monocrop in agricultural landscape. Expansion of the use of monocrop has also been linked to the increasing market orientation for crop production, fertilizer-irrigation equipment marketing, and expansion of the credit market. Urban Informal Sector In the early 70s, the service sector consisted of a small, informal sector that was insignificant in size and employment. Urbanization was low. But urban migration from the countryside has grown since the early 80s. The influx of people could not be absorbed into the manufacturing sector, since it was in the process of shrinking employment opportunities. So, they in an attempt to find the way out found their livelihood in self-employment and informal sector. Communication Although rail and water transport, traditional mode of transport in this land, remain neglected and stagnant till today, road transport developed rapidly since the mid 80s. Telecommunication also had a breakthrough in early 90s by linking all thanas. By late 90s a good portion of rural areas was brought under mobile and satellite TV network. The expansion of this communication network helped fuel demands for many other consumer items. In the rural areas, many imported consumer items are now readily available. Foreign Direct Investment In Bangladesh Foreign Direct Investment (FDI) had been very small and limited in some selected areas till early 90s. Governments have consistently been expanding incentives for foreign investment. Those include: removing the ceiling on foreign equity participation; allowing the repatriation of invested capital, profit, and dividends; allowing foreign investors to obtain working capital from local banks; removing the obligation to sell shares through public issue irrespective of the amount of paid-up capital; providing tax-exemption to royalties, technical know-how and technical assistance fees; and providing tax exemption on the interest on foreign loans and on capital gains from the transfer of shares. However, since 1993, foreign direct investment has been increasing. It got a boost with establishing Karnaphuli Fertilizer Company (KAFCO). Since the early 90s interests of Multinational Corporations (MNCs) for investment in gas, electricity, port, hybrid, telecommunication became visible, and new contracts were being signed in gas, telecommunication and electricity sectors. The fields of these investments were long prepared by major global institutions. Foreign Direct Investment (FDI), in these cases is proving to be burdensome on the economy2. NGO: New corporate Body The growth of Non-Government Organizations(NGOs) in Bangladesh has been spectacular. NGO model of development in Bangladesh, which has included group formation, the target group approach, participatory development, and microcredit, has added a new dimension to development thinking. The model is treated by global institutions as a safety net for the people who are the victims of other development measures prescribed by the same institutions. In Bangladesh, NGOs means not merely a non-governmental organization. The term means a type of development agency that is funded by foreign agencies. Horizontal expansion as well as qualitative changes in its composition characterized the last fifteen years of their activities. Initially, NGOs appeared with a promise to: work on social issues, struggle against exploitation and discrimination, work outside the domain or influence of local or national power structure.3 Since early 80s micro credit operations started getting priority among some NGOs and by early 90s it became main focus of most of the sectors. In the process NGOs became polarized between few very big NGOs and many small, where the small ones have reduced to subcontractors of the big. The big NGOs have become corporate bodies.4 Significant number of NGOs led by big ones like BRAC, PROSHIKA are now involved in several businesses projects. Big NGOs are also in the process of forming alliances with multinational corporations. To give a few examples: BRAC work with UNOCAL and Monsanto; the Grameen Bank5, which initially intended to work with Monsanto but failed due to resistance, is now intensely working with multinational telecommunication companies and is involved also with shrimp cultivation. It should be noted that the involvement of NGOs in business activities became a matter of discussion years before.6 Criminal Economy The share of black7 economic activities in the economy is yet to be accurately estimated. However, there are some rough approximations. United Nations Development Programme (UNDP) finds it to be around 30 per cent of the country?s GDP. But a top leader of the business community found it to be more than 50 per cent of GDP.8 This particular economy encompasses bribery, crime, the arms trade, production of arms, the employment of professional criminals, corruption and grabbing, illegal commissions, leakage from different governments projects, specially ?foreign aided? ones. Governments of Bangladesh have displayed very lenient attitude towards both this stolen money or chora taka and the Mafia lords of the illegal economy who, in fact, now also dominate the political arena. The rise of the super rich and Mafia lords and their domination over policy makers make the task easy for the global institutions to sale their agenda without any resistance from the ruling elite. From Poverty to Poverty Although Poverty alleviation has always been the top objective of successive governments and global institutions, and although foreign aided poverty alleviation projects are in abundance the poverty scenario has hardly changed. The number of population living under income poverty line increased from 50 million in 1972 to 68 million in 2003. From 1990/91 allocation for poverty allocation increased more than 700 percent and GDP increased by nearly 50 percent but poverty ratio in this period increased from 47.5 per cent to 49.8 percent (GOB, 2004)9. On the other hand inequality has also been increased during this period. In 1983/84 lowest 5 per cent of the population held 1.17 per cent of national income but it came down to 0.67 per cent in 2003, while the share increased for the highest 5 percent, from 18.30 percent to 30.66 percent of national income during the same period (GOB, 2004). Class Composition At the time of independence, Bangladesh?s society, both rural and urban, was mostly composed of small owners: petty traders, low and middle-income professionals, small and medium farmers, small entrepreneurs. Except large farmers and jotedars big propertied class based on industry or on trade was almost non-existent. That societal composition has radically been changed during the last three decades. Big propertied multimillionaires have grown in number to thousands in this period and new occupations related to service sector emerged. However, this super rich class has either little or negative relations with the growth of manufacturing (Siddiqui, 1995). In rural areas, business, not land has become the determinant of one's economic position. The big propertied classes in the rural area, therefore, are those who alongwith landownership involved with business of different kind. Landless people in rural areas has grown in number and proportion. As a class, they emerged as a group of single majority of the population. A large segment of this, however, has been delinked from farm work. Migration to urban areas happened mostly from this group. While industrial labour pool shrunk in size, new workers change its gender composition. In addition to that, the growth of the informal sector gave rise to the floating labourer who recieved a lower wage than did the industrial workers.10 Conclusion: Growth and Erosion, Affluence and Poverty Therefore, after its first three decades, we find Bangladesh is more marketized, more globalized, and more urbanized; and, has a good number of super rich and increased number of uprooted poor people. We also smell increasing role of international agencies in governance of the state, see increasing presence of funding organizations including NGOs. Role of the state in major policy formulation is rather marginal. Bangladesh is now dominated by a power oligarchy. Criminal activity, including grabbing public resources, has become the main mode of capital accumulation. This has also gained strength in determining mainstream politics. This scenario has been told as success of development projects by the global institutions and successive governments. Table-3 summarizes the scenario. Table 3: Rise and fall scenario in Bangladesh with the Globalization and Modernization process
source: revised table earlier presented in Muhammad (2000a)
In the last thirty years Bangladesh had plenty of ?development? projects and accumulated a huge international debt for attaining this ?development?. During this process, a number of consultancy firms, think tanks and hundreds of NGOs emerged, and many experts in different fields were born. Different projects have provided opportunities for bureaucrats, consultants to travel to other parts of the world to have training from or consultation with experts in the centers. We now have plenty of experts, consultants and researchers in different fields who have become a part of international community hungry for the projects and blessings of the global institutions. Poverty alleviation projects gave enough affluence to foreign-local consultants, bureaucrats, NGO owners, and researchers. Agriculture and Water development projects could ensure enough business to international and national construction firms, bureaucrats, consultants and agribusiness corporate bodies. Energy and power development projects ensured disastrous investments and quick high profits for the MNCs. Research and education programs have succeeded in creating an ideological hegemony by giving birth to a lot of clone intellectuals and experts. Affluence and poverty have grown in parallel. The fate of Bangladesh is now being determined by not any elected bodies, not from any initiative from within but by bureaucratic global institutions which have authority here but do not bear any responsibility for their actions. The policies of different governments regarding industry, agriculture, education, health, trade, environment, poverty, women have only given legitimacy to the policies outlined much earlier by the bodies not accountable to the people of this land. And through these actions, jointly taken by the local governments and the global institutions, Bangladesh has been moving ahead to be a more and more integrated region into global capitlaist system. Since the local ruling class does have a strong lumpen features and cannot be characterized as productive bourgeosie, Bangladesh is moving as a blind, mindless follower, and therefore is standing on a very vulnerable state. This is one of the faces of peripheral capitalism in late global capitalism. The lumpen ruling class has been fattened, strengthened and internationalized by the support of the global institutions at the expense of the people and the environment. References Bakht (2000). Zaid Bakht: ?Growth Performance of the Manufacturing Sector: A review of the Revised Industrial GDP under SNA `93? in Abu Abdullah(ed), 2000: Bangladesh Economy 2000, Selected Issues, BIDS. BBS (2002). Bangladesh Bureau of Statistics: Household Expenditure Survey. GOB (2001 and 2004). Government of Bangladesh : Bangladesh Economic Review, June. Jahan (1972). Rounaq Jahan (1972): Pakistan Failure in National Integration, Columbia University Press. Muhammad (1998, 2004). Anu Muhammad: Nari, Purush o Samaj, Sondesh, Dhaka. Muhammad (2000). Anu Muhammad: Bangladesher Unnyan Songkot ebong NGO Model, 2nd edition, Protik, Dhaka. Muhammad (2000a). Anu Muhammad: Bangladesher Arthinitir Chalchitra, Sraban, Dhaka. Muhammad (2001). Anu Muhammad: ?Occupational Matrix: Dynamics and Direction of a Peripheral Economy: A Case of Dhaka City.?, Proshashon Sameekhya, PATC. Muhammad (2003). Anu Muhammad: ?Bangladesh?s Integration into Global Capitalist System: Policy Direction and the Role of Global Institutions?, in Matiur Rahman (ed) Globalisation, Environmental Crisis and Social Change in Bangladesh, UPL, Dhaka. Muhammad (2004). Anu Muhammad: ?Foreign Direct Investment and Utilization of Natural Gas in Bangladesh? in http://www.networkideas.org/featart/jul2004/fa26_FDI_Gas.htm Muhammad et al (2003). Anu Muhammad, Nurul Huq and Amir Hossain: ?Manufacturing in Bangladesh: Growth, Stagnation and Erosion?, Journal of Economic Review, Jahangirnagar University, June. Roundtable (1997). The Daily Star Roundtable in association with Prince of Wales Business Leaders Forum(PWBLF): Towards a Creative Business-NGO Partnership, Daily Star. Siddiqui (1995). Kamal Siddiqui et al : Social Formation in Dhaka City, UPL, Dhaka. Sobhan (1982). Rehman Sobhan(1982):The Crisis of External Dependence, UPL, Dhaka. WB (1974). World Bank (1974): Bangladesh: Development in a Rural Economy, September. WB (1975). World Bank (1975): Bangladesh: The Current Economic situation and Short term Outlook, May. WB (1976). World Bank (1976): Bangladesh: Current Economic Performance and Short term Prospects, March. WB (1996). World Bank: Agenda for Action. WB (1999). World Bank: Foreign Direct Investment in Bangladesh: Issues of long run Sustainability, October.
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