MANAGING THE GLOBALISATION SYNDROMES IN BANGLADESH: SOME OPTIONS FOR FUTURE

This article evaluates Bangladesh’s integration into global trade and finance, highlighting both benefits and vulnerabilities. It identifies globalization syndromes such as exposure to financial crises, widening inequality, and environmental stress. The paper reviews trade liberalization, garment sector dependence, and technology adoption, outlining how these factors create opportunities and risks. Policy options include diversification beyond garments, strategic industrial upgrading, human capital investment, and stronger institutional frameworks for financial regulation and social safety nets. The analysis underscores that globalization is not inherently beneficial or harmful but requires deliberate management for national interests.

The body begins with a conceptual framework of globalization, distinguishing between economic, social, and cultural dimensions. Section One reviews Bangladesh’s experience with WTO accession, tariff reforms, and export dependence on garments, highlighting vulnerabilities to trade shocks. Section Two explores financial openness, capital inflows, and currency risks, drawing lessons from the Asian financial crisis. Section Three analyzes socio-cultural impacts: migration of skilled workers, cultural exchanges, and identity debates. Section Four proposes policy prescriptions, including targeted education reforms, export diversification into IT and agro-processing, regional trade integration, and social protection systems for displaced workers. Section Five reflects on governance challenges—corruption, weak regulatory oversight, and bureaucratic inertia—that undermine globalization benefits. The conclusion argues for strategic globalization, where policy actively shapes integration to maximize development dividends while shielding society from volatility.