Two thoughts: First, I have often wondered why the neighboring Indian state of West Bengal -- where I grew up -- never managed to spark its own industrial revival -- in garments or something else -- despite its obvious similarities with Bangladesh (which, incidentally, is where my parents were born, at a time the region was still part of British India). The report shows the role that plain old chance plays in things as momentous as the development of an entire national industry.
Second, the report also shows that a private profit-seeking company may unwittingly generate huge wealth that it does not get to enjoy, but others do. Daewoo, the South Korean conglomerate, trained a contingent of Bangladeshis to produce textiles, hoping to profit from its Bangladeshi venture; Richard Nixon had put a limit on textile exports from Korea to the US. But Daewoo did not get the profits it hoped for. Instead, the Bangladeshis trained by Daewoo ended up spawning a huge industry that all of Bangladesh is now benefiting from.
One final point: This report -- by Zoe Chace and Caitlin Kenny of the Planet Money team of National Public Radio -- also shows how good American radio journalism can be.
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