Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare w

Economics
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Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. What are the differences between the two countries?

Dec 15th, 2014

Ethiopia has a literacy rate of around 39%,  Japan on the other hand has a literacy rate of 99%. Ethiopia is rich in resources but in order to extract and make use of those resources, you need to have a skilled workforce, which they lack. Illiteracy also adds to inefficient governance and bad policy-making which further hinders economic growth. Japan may be poor in natural resources but it more than makes up for this shortcoming by possessing one of the best skilled workforces in the world. It is one of the most technologically advanced countries in the world. World-renowned companies like Sony, Toyota, Mitsubishi, Honda amongst others are all Japanese companies and lead the way in their respective fields.

Dec 15th, 2014

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Dec 15th, 2014
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