12:00 AM, December 23, 2012 / LAST MODIFIED: 12:00 AM, December 23, 2012

Bangladesh rated high

Guardian places it among some countries that could overtake west by 2050

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Star Report

Bangladesh is among a number of emerging countries that could overtake the west by 2050, as they are growing fast, according to The Guardian newspaper.
"As the west remains mired in gloom and even the BRICS start to plateau, attention is turning to this group of countries, many of which not so long ago were rudely dismissed as basket cases," said Larry Elliott, economics editor of the London-based newspaper, in a write-up on Tuesday.
As even BRICS [Brazil, Russia, India, China and South Africa] plateau, other countries, from Bangladesh to Mexico, are coming up fast and could overtake the west by 2050, he said.
"They are big. They have young and growing populations. They have invested in infrastructure and education. And they are growing at the sort of rates that make them the envy of the recession-hobbled west."
"…when growth rates for 2013 are chalked up, these are the countries that will dominate the top 20," Elliot said.
While some emerging countries, such as Vietnam, have been hit hard by falling western demand for their exports since the financial crisis of 2007-08, others have been sustaining strong growth rates, he wrote.
"Bangladesh and the Philippines have been helped by remittances sent home from expatriates working overseas. Mexico and Indonesia have generated strong domestic demand from their large populations."
John Hawksworth, chief economist at PricewaterhouseCoopers, said, "There are countries beyond the BRICS that have quite strong long-term growth potential."

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