https://www.nytimes.com/2020/03/31/fashion/coronavirus-bangladesh.html?action=click&module=RelatedLinks&pgtype=Article
Bangladesh is the second largest exporter of garments to most of the clothing and retail industries in the West. With the onset of lockdown of non essential businesses, most of the retail businesses including Primark, H&M, ZARA, and so on halted the orders, earlier placed by them. This impacts greatly to Bangladesh's economy, as it earns around $40.5 billion from garments exports. Most of the factory owners are facing financial losses, and are in no position to pay salaries to their workers. In addition, with the nationwide lockdown in Bangladesh, most workers are sent home, with little hope of receiving any wages.
Bangladesh is the second largest exporter of garments to most of the clothing and retail industries in the West. With the onset of lockdown of non essential businesses, most of the retail businesses including Primark, H&M, ZARA, and so on halted the orders, earlier placed by them. This impacts greatly to Bangladesh's economy, as it earns around $40.5 billion from garments exports. Most of the factory owners are facing financial losses, and are in no position to pay salaries to their workers. In addition, with the nationwide lockdown in Bangladesh, most workers are sent home, with little hope of receiving any wages.
2 comments:
If the Bangladesh government does not pass something similar to a stimulus package, or provide national relief for certain expenses, then the economy will take a dive that will be hard to recover from. The Bangladesh government should waive housing expenses for the time being, and if that happens then the Bangladesh economy can recover quickly as people will be able to afford spending once this pandemic blows over.
This is sad to see in Bangladesh. Many countries are suffering around the world in this manner and it is difficult to help and establish solutions to all. In the time being, I agree with Austin in terms of the government stepping in and doing all they can to relieve the impact of this pandemic on the economy. It is always easier said than done though.
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