According to Fortune magazine, Walmart's revenue was more than $485 billion in 2016. This is almost double the sales of Toyota, and more than twice the sales of Apple. The revenue of Walmart surpasses the economy of a country with around 160 million people, Bangladesh. The US company has become an icon of capitalism, free markets, and power. Its market capitalization is also impressive, and higher than the international reserves of many countries. Walmart is loved by many consumers, but it's also hated by people who believe the US giant is a symbol of neoliberalism.
Walmart revenues surpass the GDP of Bangladesh
The economy of Bangladesh was almost $227 billion in 2016, which is less than half of the sales of the US company. This means that Bangladesh isn't using its huge potential, this country has a young and cheap labor force that could manufacture a lot of products at low prices. The Asian country could grow 6% or 7% per year when using its huge potential, thus, Made in Bangladesh would become common.
Market Capitalization vs International Reserves
Walmart has a huge market capitalization of more than $243 billion -- one of the largest in the world. According to the Bangladesh Bank, the international reserves of the Asian country totaled nearly $33 billion in July.
Bangladesh has to increase exports, productivity, and educate its workers in order to improve its social and economic indicators. Rich countries have a high level of both exports and productivity.
This is the moment to become a new economic engine in Asia
Taiwan, Hong Kong, South Korea, and Singapore were poor countries in the past but they adopted economic policies that promoted exports, investments, and free enterprise.
They used their cheap labor force to manufacture and export a lot of products -- achieving success as a result. In the past, they were countries populated mainly by poor farmers, but they eventually became countries with high per capita income. Today, these countries have also become an example on how to defeat poverty.
Bangladesh has some advantages
South Korea had a fierce war with its Communist neighbor many years ago, and currently, there is tension in the region. As a result, South Korea has to spend a lot on weapons. This is not the case for Bangladesh. Bangladesh is also bigger and more populated than these Asian countries, thus, it has the potential to become a big economy.
