Bangladesh could be a new 'Asian Tiger'

The Bangladesh economy has been one of the top performers in Asia over the past decade, averaging annual growth of more than 6%. Much like Hong Kong (Special Administrative Region of China), Singapore, South Korea and the Taiwan (Province of China) during the industrialization of their economies, most of of the growth that Bangladesh has experienced has come from garment exports, which the CIA World Factbook says accounts for more than 80% of its exports.

In a note sent out to clients on Monday, Gareth Leather and Krystal Tan, Asia economists at Capital Economics, wrote that Bangladesh has picked up about two-thirds of China's low-end manufacturing market share in Europe.

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