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Interview: China shows employment vital to economic recovery, expert says

Abstract : China has shown that a path to recovery entails a drive for direct job creation as gainful employment can bring a rise in income and keep the economy on track, a Bangladeshi scholar has said.

DHAKA, March 15 (Xinhua) — China has shown that a path to recovery entails a drive for direct job creation as gainful employment can bring a rise in income and keep the economy on track, a Bangladeshi scholar has said.

China has adopted a series of measures and policies, and constructed a whole set of systems covering policy, work and institution, Rashed Al Mahmud Titumir, chairman of Unnayan Onneshan, a think tank in Bangladesh, told Xinhua in a recent interview.

China has demonstrated that industry-driven poverty reduction brings employment, said Titumir, who holds a Ph.D. degree in Economics from the School of Oriental and African Studies at the University of London.

The COVID-19 crisis necessitates a new roadmap to salvage humanity, highlighting the importance of bringing a qualitative change in people’s life in terms of good health, quality education, decent work, gender equality and strong institutions, he said.

The COVID-19 pandemic has had an unprecedented impact on people’s livelihood in Bangladesh, with the emergence of new poor, unemployed and working poor, said Titumir, also a professor of Economics at Bangladesh’s top Dhaka University.

China-Bangladesh relations can evolve to a partnership in production networks that create employment, particularly in the labor-intensive cottage industries, as well as micro, small and medium-sized enterprises, he added.

The partnership can start with textiles, textile-related goods and capital machinery, he said, adding that the next step can be in the fields of light engineering and assembling industries, covering smartphones, televisions, refrigerators, motorcycles and other home appliances.

Emphasis upon skill development and the improvement of labor productivity is therefore required to help develop the economy, said the professor, adding that China can be a partner in building educational institutions, including technical and vocational training centers in Bangladesh.

A universal social security program suitable to the life cycle of the public, involving children, mothers, the youth and the elderly, is urgently needed, he said, adding that the program has to be for everyone and should include income support, national health services and job seekers’ allowances, among others.

“China has shown resilience in its recovery, and thus in order to avert a diverging K-shaped recovery path, a policy regime of active restraint, involving provision of public goods, and equitable distribution of resources are needed for a relatively equitable recovery,” said Titumir.

“These would allow countries to move towards achieving sustainable development goals,” the scholar added. Enditem

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Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: Interview: China shows employment vital to economic recovery, expert says

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