Lessons from China's economic recovery

By this time, the world seems to have forgotten that China is the first country to be affected by the novel coronavirus. The Chinese economy nosedived due to mandatory shutdown to contain the spread of the virus. The economic giant has, however, managed to overcome a number of challenges when other nations could not even get ready to meet the health-related challenges posed by the virus.

China's exports and imports have increased significantly in recent times, although the country has recorded fewer deaths after the initial shock. Countries like Bangladesh might have been encouraged by this to reopen all activities to ensure economic recovery.

Before doing so, we need to look at how China has made it possible - how it minimized health risks and saved millions of lives and then ensured that the economy does not suffer. Bangladesh has shown resilience but the country still needs to review the situation and formulate the most prudent policy for economic recovery, especially during the post-pandemic period. Education and skills development, inclusive growth, investment targeting job creation, support to the poor through income generating activities and safety-net programmes, and overhauling the national health system are some of the priorities for Bangladesh in the coming days.

SM Badal

Shyamoli, Dhaka

[email protected]