Business Finance
economic question, 1 - 2 page

Question Description

I’m studying for my Economics class and don’t understand how to answer this. Can you help me study?

You are a nice director, you want your country to move from 3rd world status to developing country status. what do you plan to do? Be specific. Assume whatever you want.

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Final Answer

The recent achievement of the Third World proposes that we can have a solid expectation that developing nations will develop. As a director let me go deeper and plan how, nations that seemed caught up in poverty are now growing. Over the last several decades light industry has been a main route into the First World. A big trouble with this route has been that the people of the First World hardly ever wear more than one pair of underwear at one time. As there is inadequate demand for the products of low skill, light industry, most countries had to more or less stay as light industry transformed a few countries at a time, for instance, China. The speedy growth of India depends on Internet outsourcing proposes a second route. Thus while a large portion of the Third World can grow to First World status through light industry, another big portion can grow via this second route, the Internet, without hampering the first group. Actually if the countries that are growing through outsourcing obtain the light industrial goods of the light industrial exporters then the new group the outsourcers will really assist the old group, the light industrial exporters to develop. At last, the success of these two routes is raising natural resource prices which are providing a third route to the First World, the export of natural resources. Numerous routes to success mean that Third World nations may not have to wait for their turn, to get on a path to swift development. In addition, there is a compete between the higher birth rate of the Third World compared to the First World and the approach of Third World countries to First World status through economic growth. The chance of new routes to the First World, mostly through the Internet, may considerably shift the benefit to economic growth. The population of the Third World will turn down as the excess of births over deaths in Third World countries is over matched by people physically moving to developed countries, and Third World economies gaining First World status.

hinanoureen (1820)
University of Virginia

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