At one stage in the history the colonial powers dominated the world. Now the US dominates the world. In terms of economy the westerns are dominating the world. Economists are forecasting that BRICS (Brazil, Russia, India, China, and South Africa) will overtake the western economy.
But according to an article published in UK based newspaper ‘The Guardian’ on 18th December some economists in the west believe that economy in BRICS are becoming saturated and some eleven countries are emerging; these countries are Bangladesh, Vietnam, Philippines, South Korea, Indonesia, Mexico, Argentina, Turkey, Egypt, Iran and Pakistan.
These countries have growing young population; they invested on infrastructure and education. These countries are termed ‘New wave economy’.
The article also emphasized on controlling inflation, budget deficit, investing on human capital and maintaining education standard.
Many negative forecasts on Bangladesh were made by many experts after the bloody liberation war in 1971. But Bangladesh managed to survive and now according to some experts Bangladeshis are going to overtake the west by 2050.
