Obstacles for Economic Development

All countries in the world will be developed in the future depending on several factors. There are variations in the economic development of countries for historical, economical, social, geographical, political reasons. Developed countries in the world such as u.s.a., analyze local conditions effectively and correctly in the early stages and thus their economic policy is very suitable for their nations. Therefore it can be a developed country at the initial stage.

India will be a developed country that has not become a British colony, and has a minimized population growth rate. India has also spent a large amount of defense due to internal and external disputes. For example, it has faced terrorism problems both in the nation and also from other neighboring countries. India has a large amount of natural resources and also has a favorable climate to grow various plants. But political and administrative corruption seems to be one of the main obstacles for India’s growth even though social and economic policies are effective on paper. For example, a mixed economic system immediately after independence and market-oriented policies are currently suitable for domestic economic and social conditions of India.

The lack of appropriate technology, rare natural resources, ineffective economic and social policies, high population growth rates, poor human resource quality, sad infrastructure quality, recurrent natural disasters, production costs of goods and services are so low Comparative and absolute advantages of certain products, dependence on external resources, lack of demand for their main products in the international market, etc. will delay the progress of the country.

Many African countries are in the process of building with assistance from other countries. For example, India helps some of these countries in their social and economic development. China has been involved in infrastructure development in several African countries. Some countries often face problems with disease against human resources and poor medical care, which are responsible for low levels of production and productivity. Most of the population of these countries depend on primary economic activities that lead to the level of savings and investment responsible for the accumulation of low capital and economic growth.

Some countries in the world have produced goods and services using obsolete methods. Such methods are responsible for low results and thus very low quality of life, life expectancy of human resources too. For example, in many parts of India, Pakistan, Bangladesh, Sri Lanka, etc. Farmers still depend on traditional methods of plant production. Bangladesh, Sri Lanka conducts a wealth of losses often because of the recurrence of natural disasters such as flooding. Some countries in the poles do not have a profitable climate that has slowed the progress of civilization.

Australia and other Pacific countries have faced threats from cyclones, floods. Likewise the third largest economy in the Japanese world will be in a better position if he learns to predict a great disaster such as an earthquake. Thus natural disasters also play a role in delaying economic growth.

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