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Advanced and Developing Economy Countries: Germany and Bangladesh
Research
Economic disparities are generally connected to a variety of societal factors determining the conditions of the environment for promoting progress. The link between the two areas can be supported by conducting an analysis of the situations in two different countries, one of which is an advanced economy, and another one is developing. For the purposes of this research, Germany and Bangladesh are selected as examples of such locations varying in their available resources and issues preventing them from further growth.
World Bank Data Collection
The main source of economic information for the suggested study is the World Bank containing statistics regarding the countries general indicators in different spheres. This solution allowed us to define the principal reasons why the disparities between Germany and Bangladesh exist in the first place. Thus, for example, the comparison of their circumstances showed that in all aspects directly related to the economies under consideration, the latter is less favorable than the former (see Appendix A). Bangladesh is reported to have lower GDP, external balance, and exports and imports; however, this situation cannot be examined isolated from other factors related to the population and their daily lives.
The social indicators alongside the mentioned economic conditions reflect the reasons why the situations in Germany and Bangladesh drastically differ. From this perspective, the formers higher numbers of urban residents implying greater participation in business life as well as lower population densities, in general, serve as evidence of better living standards for citizens (see Appendix A). In contrast to Germany, the challenges of Bangladesh directly affecting the countrys economy include declining life expectancy, no access to the Internet for the majority of individuals, significantly higher adolescent fertility rate alongside undernourishment (see Appendix A). In other words, the impossibility of the latters people to improve their position compared to more advanced countries positively correlates with Bangladeshs unfavorable conditions for personal development in terms of education and employment.
Data Collection: Articles
Further conclusions on economic and social differences between Germany and Bangladesh will be made on the basis of the two articles selected for this purpose. Their selection was conditional upon the inclusion of information regarding citizens participation in respective societies and their potential based on the conditions of the present-day world developmental patterns. Both publications were searched by the terms Germany, Bangladesh, economy, and diversity via the EBSCO database. Initially, the search was based on society and diversity but refined in the process due to the need to pay attention to the economic aspects of the matter.
Both publications are recent as the parameters for their location were set as the papers issued between 2017 and 2021. In the article submitted by Klüver & Zeidler (2019), the scholars are experienced in comparative political behavior, social sciences, and public administration confirming their competence. In the piece written by Lewis (2019), the expert also has a background in economics and politics. These sources are included in peer-reviewed journals, Political Studies, and Third World Quarterly, respectively. In turn, sorting the topics was guided by the considerations of their feasibility for explaining the connection between the mentioned spheres of life of the studied populations. Moreover, each of the studies narrates solely about the analyzed countries, which makes it possible to avoid excessive generalizations in making further conclusions. In this way, the determination of factors contributing to economic disparities between Germany and Bangladesh will be based on this evidence.
Conclusions
Differences Between Germany and Bangladesh
Cultural, Social, and Political Diversity
The varying conditions in terms of cultural, social, and political diversity can be viewed through the lens of these components. Thus, for instance, the significance of involving people from different backgrounds emphasized in the article, written by Fensham (2017), is easier to apply to Germany rather than Bangladesh. This standpoint is based on the fact that, in the former country, citizens are more concerned about participating in public affairs through memberships in interest groups without making distinctions in ones origin (Klüver & Zeidler, 2019). On the contrary, in Bangladesh, individuals rely more on external aid due to the lack of sufficient resources and the lack of diversity (Lewis, 2019). These considerations determine a more favorable economic position for Germany since these barriers in culture existing in Bangladesh do not prevent people from political activity and societal progress.
Economic and Social Disparities
The mentioned differences are underpinned by economic disparities stemming from varying indicators. First, Germanys GDP is $3.356 trillion compared to Bangladeshs $195.079 billion, meaning that the presence of more significant resources for the populations development in the former case (see Appendix A). Second, this conclusion is supported by the GDP per capita, which is 41,086.73 and 1,248.453 for Germany and Bangladesh, respectively (see Appendix A). Third, exports in Germany are 1.575 trillion, whereas, in Bangladesh, this amount is 33.82 billion reflecting the latters limited capability in producing goods (see Appendix A). Fourth, the imports in Germany are $1.32 trillion, and in Bangladesh, they are $48.281 billion, implying the latters complications in delivering scarce resources (see Appendix A). Fifth, Germanys balance of payments of $288,261 billion contrasted with Bangladeshs $2.58 billion added to the latters restricted national operations ( World Bank open data, n.d.). In turn, the three critical social indicators include Germanys lower population density, Bangladeshs lower life expectancy, and Germanys lower adolescent fertility rates (see Appendix A). They contribute to the described Bangladeshs problem of limiting access to education and, consequently, individual impact on society.
Political Structure and Key Factors for Long-Term Economic Growth
The described differences are accompanied by similar political structures of the examined countries, which, nevertheless, are insignificant for their economic prosperity. Thus, both Germany and Bangladesh are parliamentary republics, while the formers ethnic composition is more complex, which is a benefit for promoting societal diversity ( Bangladesh government, n.d.; Germany, n.d.). This circumstance serves as the key factor promoting Germanys comparably faster pace of economic progress in the context of globalization (Arocena & Porzecanski, n.d.). It also means that receiving education in this environment is easier, and the lack of ethnic conflicts due to the sufficiency of resources is another condition contributing to growth (Kivoto, n.d.). Statistically, in Germany, 1.289% of individuals have a doctoral degree, whereas, in Bangladesh, this indicator is 0.158% ( World Bank open data, n.d.). Also, greater social responsibility because of the inclusion of more significant numbers of female workers in Germany explains the problems of social responsibility in Bangladesh (Donelly, 2015; see Appendix A). Thus, the experience of these two countries correlates with that of other regions, and the main issues are social organization and a globalized approach to business.
Conclusion
To summarize, the varying international trade situations in Germany and Bangladesh, alongside the differences in cultural diversity and political participation due to levels of education and adopted practices, confirm the latters less privileged position. The observable disparities reflected mainly in the countrys social indicators are directly linked to its economic limitations due to the above factors. Therefore, it can be concluded that there is a clear relation between the growth of businesses in the context of globalization, societal issues, and politics.
References
Arocena, F., & Porzecanski, R. (n.d.). Ethnic Inequality, Multiculturalism, and Globalization. The cases of Brazil, Bolivia, and Peru. Web.
Bangladesh government. (n.d.). Country Reports. Web.
Donnelly, R. (2015). Tensions and challenges in the management of diversity and inclusion in IT services multinationals in India. Human Resource Management, 54(2), 199215. Web.
Fensham, P. (2017). Planning in Australia: Economic benefits of cultural diversity. SGS Economics & Planning. Web.
Germany. (n.d.). Country Reports. Web.
Kivoto, E. (n.d.). Ethnic conflict and its impact on economic development in Africa: A case study of Kenya. Web.
Klüver, H., & Zeidler, E. (2019). Explaining interest group density across economic sectors: Evidence from Germany. Political Studies, 67(2), 459-478. Web.
Lewis, D. (2019). Big Dand little d: Two types of twenty-first century development? Third World Quarterly, 40(11), 1957-1975. Web.
World Bank open data. (n.d.). The World Bank. Web.
Appendix A
Table 1: Economic Disparities Between Germany and Bangladesh (2015)
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