Factors Which Improves the Countries Economy
By: Sana Haroon Posted on Tue, 19-04-2016
There are 196 countries in the world in which 25 of them are very rich which shows that they are having an average wealth for person of over a hundred thousand dollars a year. But far more countries are quite poor, which shows that there wealth falls under thousand dollars a year or under three dollars a day. The industry expert translation services provider mostly examines these countries’ yearly census, the country income in the form of datasheet and the datasheets to stay up to date.
This documents translation services provider provides with several types of services to translate different types of data sheet for example Portuguese (Europe) safety datasheets translation services. Every country now more or less is on the path to growth but the poor once are growing very slowly. For example if Zimbabwe continuously increase its growth rate, it will qualify as a rich country in 2722 years.
Why some countries prosper and other stagnate?
There are basically three factors that determine whether a country will be rich or poor,
Institutions
Institutions are beyond important, broadly speaking that rich countries have outstanding institutions and poor once have very bad. A correlation between poverty and corruption is direct; the richest countries in a world are simply invariably also the least corrupt. The most corrupt countries are also really poor. When countries are corrupt they can’t collect enough taxes to get the good institutions they world need to escape the poverty trap.
Half of the wealth of world’s poorest twenty countries goes into offshore accounts because of which they lost revenues between 10 and 20 billion dollars in a year. Meanwhile without an adequate tax base poor countries can’t invest in police, education, health and transport.
The more generous way to look at corruption is that it’s a really a case of clan based thinking. Suppose if you are hiring someone, in the rich countries you will simply do it on merit, after viewing lots of candidates and then pick the best one, the respective of any personal connections.
In poor countries under the way of clan based thinking, that approach itself be seen as corrupt. As result poor countries don’t allow themselves access to the intelligent talents of the whole population.
Culture
What goes on in people’s minds and there outlooks and believes, a sticking statistics pops up in relation to religion. The exception here unfortunately is the United States, which manages to combine great religiosity with huge wealth and conversely the poor nations in the world are also, extremely believing once. In the world’s poorest countries simply everyone is believer.
So you should focus on the spiritual and look forward to the next world. In the rich world on the other hand, people are generally great believers in that capacity to alter the destiny through effort and talent.
Geography
Poor countries are located in the tropical regions, this is just a coincidence life is very difficult there. The problems began with agriculture; tropical plants are generally lot less packed with carbohydrates. Poor countries have also the verso soil. Also surprisingly a tropical climate can be disadvantageous to photosynthesis. Historically key determine a likely hood of societies growing rich was the possession of their large domesticated animals.
In tropical Africa domesticated animals throughout time have been devastated by further appalling scourge. That was a fly; a small fly is exclusively present in Africa because of heat and humidity. This fly knocks out animals at enormous scale by making them sleepy or inactive. It has profound effect on the ability of the Africans to develop technology, increase agriculture or productivity and a mass wealth.
It is not just plants and animals that suffer in the tropics, in the middle latitude humans are opened to terrifying rave diseases including dengue, yellow fever, bacterial infection, less a fever, Marburg etc. The magical temperature which has helped to make countries rich is 16 degree centigrade. However superficially unpleasant that drop from 16 degrees and autumn starts to bite. It is literally a foundation stone of civilization.
Geography also in compasses transport and poor countries are on the whole is very badly connected. Such as Africa has only one major navigable river that has 15 land locked nations, 11 of which has average income of $600 a year or less. Not coinsidently the poorest country in Asia is Afghanistan is also land locked.
Then there is the matter on natural recourses can be real dilemma and paradoxically poor countries tend to have them in spades. These natural recourses are called intensifiers; they will help to make country good institutions richer.
But one with bad institutions gets ever poorer, precipitating the recourses trap. Such as the Democratic Republic of the Congo are the richest countries holding much of the world’s popular material contained in a mobile phone. Natural resource wealth helps to grab money, without requiring the collaboration of whole country society.
So how should one way off the relative significance of all these aspects, institutional, cultural and geographical in determining the wealth of nation? There are no hard and fast rules, but as a guide one can suggest that 50% of nation’s wealth comes down to its state of institution. 20% is due to its culture and 10% each can be allocated to the latitude, connectivity with the rest of the world and geological fortune.
Industry expert translation services company are really helpful in that regard to know the right ratio of every subject in the country by providing services like Portuguese (Europe) Safety Datasheets translation services. If you are a policy maker, this discussion has wide implication. Things you can take away from the personal level are as follows.
Modesty, you should have a better idea of what you awe to your individual success. As a border society you in which was produced over centuries and which you now draw benefits from unknowingly. At the same time, sympathy an ability not to see failing society just as basket cases, but rather as countries facing comprehensible and hugely the difficult problem.
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