Hey, everybody, Peter Zion here coming to you from Colorado. Today we’re talking about a country we hardly ever talked about, and that is Bangladesh. There are nationwide protests going on there right now at least 20 people have been killed. And the protesters are literally saying that they’re trying to shut down the country and they’re doing a pretty good job. For those of you who don’t know what a Bangladesh is, it’s a small, physically small country, kind of nestled into the armpit of India to the northeast of Delhi. It’s that little chunk that kind of wraps around India wraps around it in Bangladesh is there at the mouth of the Ganges. Right on the Bay of Bengal. It’s got a huge population, very young, over 100 million people, and it is textile Central. As China moved out of textiles, or at least out of mass market textiles. Over the last 20 years, Bangladesh has picked it all up. Now roughly 20% of Textile Supply Chains involve Bangladesh in some way. And really 8% of global supply comes from there. Anyway, the protesters are attempting to do nothing less than overthrow the constitutional order of the country. So no kind of a big deal. short version is that back when Bangladesh got independence in 1971, one of the founding laws for the country was that roughly 30% of all government jobs, regardless of what they are, will are guaranteed to go to people who supported or fought in the revolution in the first place, or their families and descendants. Well, that is basically given some very, very politically connected people a chokehold over government contracts and jobs. And if you are, say, a college graduate in Bangladesh, your options are to try to compete for what’s left, you can go into the textile industry and be a wage slave, or he worked on a beach breaking old ships. And that’s it. That is the entire economy of Bangladesh. So there are several millions of people who are skilled, and kind of have no prospects whatsoever, because you know, Bangladesh, you can walk to maybe India, but Indian labor laws aren’t exactly welcoming for migrants, just like most countries where migrants are a portion of the the workforce. So the trigger shut the whole place down. Now,
this is both not a big deal and a very big deal. There’s nothing magical about textiles, especially when you’re talking about the relatively low tech level that the Bangladeshis do. However, the integration of textiles, typically, you know, a garment, especially things that involve a lot of stitching, and maybe something sewn on or stamped in like a button or a rivet, involve a dozen different countries. And if you have a significant disruption within what is actually the single biggest node in the world, any number of supply chains are simply going to break completely. It’s not that they can’t be repaired so that they can’t be rerouted. But none of that can happen quickly, because Bangladesh really has emerged as the singular node. So we’ve got a lot of cheesed off college graduates who are basically trying to overthrow what is like one step removed from the constitutional order of a country. And no matter how this goes down, we’re looking at disruption in global textiles for at least the next couple of years. And for those of you who have been watching China, there’s a couple of interesting years upcoming anyways, the Chinese system hits the skids. And the second largest concentration of textiles has problems. In the background, we have changed technologically and how textiles are being done, which is undermining both the Bangladeshi and the Chinese systems, specifically here in the United States, we figured out a way to automate a lot of the process and take everything from raw cotton, to turn it into thread third into yarn, turn into cloth, cut it into sections, and all of that is now cheaper than what goes on in Bangladesh. And we’re probably only a few years away from actually being able to stitch the clothes together into a semi finished process and make that cheaper as well. So this is the economic sector that matters in the country. And this is potentially the next big source of out migration as the sector fails anyway. What’s going on right now with the protests could simply make it fail faster.
Protests in Bangladesh signal more trouble ahead
By Straight Arrow News
Public protests in Bangladesh against government hiring practices — and against the government’s military response to those protests — have left at least 174 dead and 2,500 jailed. Bangladesh’s people face an acute jobs and unemployment crisis, so public disagreements over hiring practices carry significant weight. The regime recently enforced a nationwide internet blackout as part of the crackdown, even as protest leaders signaled a willingness to negotiate, stating that their protest was not worth “so much blood.” The rapid escalation of violence has alarmed international watchdogs and observers.
Watch the above video as Straight Arrow News contributor Peter Zeihan dives into the politics and protests in Bangladesh and explains what this means for the rest of the world.
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The following is an excerpt from Peter’s July 23 “Zeihan on Geopolitics” newsletter:
There have been significant protests in Bangladesh over a law reserving a significant portion of government jobs for supporters of the 1971 independence revolution and their descendants. The job quota has been suspended, but protests continue.
For context, Bangladesh has a young population of over 100 million and accounts for nearly a tenth of the global textile supply. The current protests revolve around the chokehold on opportunities that this job quota has caused, forcing many college grads into low-wage textile jobs or something of similar stature.
The protesters have been met with curfews, arrests and worse, but it appears they will continue to push back against the government. Depending on the resolution of these protests, the Bangladeshi textile sector could be in trouble… which would be amplified by the technological advances hitting the industry.
Hey, everybody, Peter Zion here coming to you from Colorado. Today we’re talking about a country we hardly ever talked about, and that is Bangladesh. There are nationwide protests going on there right now at least 20 people have been killed. And the protesters are literally saying that they’re trying to shut down the country and they’re doing a pretty good job. For those of you who don’t know what a Bangladesh is, it’s a small, physically small country, kind of nestled into the armpit of India to the northeast of Delhi. It’s that little chunk that kind of wraps around India wraps around it in Bangladesh is there at the mouth of the Ganges. Right on the Bay of Bengal. It’s got a huge population, very young, over 100 million people, and it is textile Central. As China moved out of textiles, or at least out of mass market textiles. Over the last 20 years, Bangladesh has picked it all up. Now roughly 20% of Textile Supply Chains involve Bangladesh in some way. And really 8% of global supply comes from there. Anyway, the protesters are attempting to do nothing less than overthrow the constitutional order of the country. So no kind of a big deal. short version is that back when Bangladesh got independence in 1971, one of the founding laws for the country was that roughly 30% of all government jobs, regardless of what they are, will are guaranteed to go to people who supported or fought in the revolution in the first place, or their families and descendants. Well, that is basically given some very, very politically connected people a chokehold over government contracts and jobs. And if you are, say, a college graduate in Bangladesh, your options are to try to compete for what’s left, you can go into the textile industry and be a wage slave, or he worked on a beach breaking old ships. And that’s it. That is the entire economy of Bangladesh. So there are several millions of people who are skilled, and kind of have no prospects whatsoever, because you know, Bangladesh, you can walk to maybe India, but Indian labor laws aren’t exactly welcoming for migrants, just like most countries where migrants are a portion of the the workforce. So the trigger shut the whole place down. Now,
this is both not a big deal and a very big deal. There’s nothing magical about textiles, especially when you’re talking about the relatively low tech level that the Bangladeshis do. However, the integration of textiles, typically, you know, a garment, especially things that involve a lot of stitching, and maybe something sewn on or stamped in like a button or a rivet, involve a dozen different countries. And if you have a significant disruption within what is actually the single biggest node in the world, any number of supply chains are simply going to break completely. It’s not that they can’t be repaired so that they can’t be rerouted. But none of that can happen quickly, because Bangladesh really has emerged as the singular node. So we’ve got a lot of cheesed off college graduates who are basically trying to overthrow what is like one step removed from the constitutional order of a country. And no matter how this goes down, we’re looking at disruption in global textiles for at least the next couple of years. And for those of you who have been watching China, there’s a couple of interesting years upcoming anyways, the Chinese system hits the skids. And the second largest concentration of textiles has problems. In the background, we have changed technologically and how textiles are being done, which is undermining both the Bangladeshi and the Chinese systems, specifically here in the United States, we figured out a way to automate a lot of the process and take everything from raw cotton, to turn it into thread third into yarn, turn into cloth, cut it into sections, and all of that is now cheaper than what goes on in Bangladesh. And we’re probably only a few years away from actually being able to stitch the clothes together into a semi finished process and make that cheaper as well. So this is the economic sector that matters in the country. And this is potentially the next big source of out migration as the sector fails anyway. What’s going on right now with the protests could simply make it fail faster.
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