No one wins in the final trials of trade war, people are just at the rate

• Jose Vinalos served as Deputy Governor of Spain for 25 years

• In December 2016, he took over as chairman of StanChart

• In 2009, the International Monetary Fund (IMF) joined

• He was the chief spokesman for the financial issue

• Started as a teacher of economics, at Stanford University of the United States.

Jose Vinculas

Recently, Bangladesh has visited Bangladesh in four-day tour of the Standard Chartered Group Group Chairman Jose Vinculas. This was his first visit to Bangladesh. On the last day of his visit, he met in a five-star hotel in Dhaka on Thursday, with the first light, two English daily. There are talk about global and Bangladesh economics, financial sector and various issues.

No one wins in the final trials of trade war, people are just at the rate

Group Vincent, Chancellor of StanChart Bank, believes that for the continuity of economic growth and to keep it dynamic, the most needed is a strong financial system, prudent monetary policy, financial integrity and structural reform. The economy of that country, the more powerful it is, the more stable and rapid growth will be. He said this while talking to journalists during his recent visit to Bangladesh.

Jose Vinculos said, "Bangladesh is a very important market for us. In our country, our business practice is to conduct business in such a way that it can play the most effective role in economic and social development here. Standard Chartered Bank does business in prosperity. We do so in Bangladesh, we want to make this country more prosperous. '

Speaking at the meeting, the chairman of the Stanchart spoke about the global economic situation. In spite of that, he was asked about the impact of the trade war between the United States and China. On this question José Vinnals' forehead looks a bit. He thinks that the way it is going, it can take a full trade war. In this, the countries of China's supply chain, including the countries of Asia, will also be affected by the negative impact of war between the two countries in war. The trade war is not a good news for the world in the final judgment. Because, many countries in this could risk trade security.

According to Jose Vinculas, no one wins in the final trial of trade war. In this kind of war, people are only hurting. And everyone will be damaged if the global economy rattles confidence. He said that in many countries, trade and investment are already seen slow. The impact of global growth could fall to 3.7 percent. Although global growth forecast was 3.9 percent.

There are also negative aspects of trade warfare, as well as some advantages. Former deputy governor of Spain thinks that Bangladesh's exports may increase if China's export to the United States decreases due to the United States and China's trade war. Bangladesh may benefit from it. But due to the lack of confidence of the global economy, the demand for Bangladesh's export product may fall further if the demand decreases.

Responding to a question that whether the factory transfer will take place in Bangladesh during the trade war and global economic scenario, Jose Vinculas said, "Yes, there is such a possibility." Not only Bangladesh, other countries can also take this opportunity. Those who are out of US-China trade war, they can take this opportunity. But it will not happen overnight so that's like him. Because, for this one has to make human resources, on the other hand, necessary investment will be required. Build infrastructure. It is not possible in a short time. This will take time.

Meanwhile, Europe's other nature's crisis is clouding. Apart from the uncertainty of the breakthrough, Italy's debt crisis and the crisis in the Saudi Consul of Istanbul have also created a crisis over the killing of journalist Jamal Khasogir. Even if sanctions on Iran are implemented in March, oil prices may increase as well, as well.

The teacher and economist at Stanford University of the United States think that there is a huge potential for Bangladesh to progress in the global crisis. But to implement it, it will take appropriate government policy and private sector cooperation. For this, investment must be increased to create jobs, growth and wealth.

He said that the Standard Chartered by bringing foreign direct investment (FDI) to the country is causing the Bangladesh's bridge with the outside world. Stanchart will do this work in the future. Bangladesh is going to be a middle income country. That's why, according to Jose Vinculas, the direct foreign investment will increase. He said that the rule of law, stability, and futures - not only attract foreign investors. If these things are confirmed then domestic investors will also be benefited. Bangladesh's position on the World Bank's index of easy business is 177th among 190 countries. He said, in this context it is understood, how important it is to improve the investment index for Bangladesh. The main goal of the foreign investment that is currently coming up is export. For this, we have to ensure that the export system works properly. It is possible to send goods quickly out of the country, to arrange them. Infrastructure is the most important thing for this.

Jose Vinculos thinks that the people of Bangladesh are the biggest asset of Bangladesh. The number of young people in this country is also huge. So people have to be used to get this demographic advantage. They will need to make necessary skills. However, the achievement of the economic and social indicators of Bangladesh so far is very jealous, José Viñalas thinks. Now it is time to improve the fundamental of the economy. For this, the bank's policymaker emphasized the need to create a suitable policy for sustainable and rapid growth.