6 But the critique against globalization point out that,it may increase the inequality between rich and poor as the people having more access to resources, better economy, and enhanced communication technologies will have the upper hand over the others. In the Neoliberal point of view globalization process have the potentials to help the world as a whole by ensuring economic growth with “deregulation, liberalization, privatization- which are to roll back government and reduce market-distorting interventions and in effect ‘annual development’”. This has been facilitated by dramatic improvement in communications technology, especially electronic interchange facilitated by personal computers”. It is ‘new' and ‘revolutionary' and is mainly due to the ‘massive increase' in financial foreign exchange transactions.
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“Globalization is political, technical and cultural, as well as economic. In simple words globalization is the ‘compression of the world’ with ‘the intensification of the consciousness of the world as a whole’. 3 One of the reasons for this economic growth is globalization process in Bangladesh. 2 In the 1990s GDP grew at the annual average rate of 4.8 per cent in the 1990s compared to 3.7 per cent in the 1980s. Poverty has reduced from 56.6 percent in 1991-92 to 31.5 percent in 2010. 1 Although Bangladesh have been making significant progress in eradicating poverty over the last two decades. In the last one decade Bangladesh have experienced GDP Growth rate 5% or above. Introductionīangladesh for the last three decades the economy of Bangladesh keeps a constant positive growth. This article argues that the public policy should go beyond the pursuit of globalization and create adequate opportunity for the vulnerable group of people and make them capable to take better advantage put forth by the globalization. This paper has concluded that, globalization mostly had positive impact to poverty reduction in Bangladesh especially in the rural areas during 1990s but it is also reality that, the inequality between the rich and poor broadens within this period of time in Bangladesh. It also portrays a brief idea how globalization could play an important role in the poverty situation in a developing economy. This paper will try to look at the impact of globalization on poverty situation in Bangladesh in the 1990s. One of the reasons for this economic growth is globalization. In the last three decades Bangladesh has been showing steady economic growth rate. In a developing economy like Bangladesh the impact of globalization is diverse and complex.
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Globalization is a recent issue which has its pros and cons.