Third World Planet: The Third World Economies Introduced
Third world economies are as different as the countries, well over a hundred nations make up the third world and their economies vary dramatically. Many of them are what you think of as the traditional third world nation with people who are dirt poor and relying on subsistence farming to survive. On the other hand there are third world countries have some of the largest economies in the world. Because of their enormous populations they are still quite poor on a per capita basis. A number of third world countries have some of the fastest growing economies and will soon be first world nations.
There are a number of reasons that a country is a third world nation. The main one is poor policy on the part of the government. In most cases it is the greed of the government officials who are trying to line their own pockets that cause the nation to remain poor. This is most commonly seen in countries that produce cash crops. In many cases all of the countries arable land is used to grow crops for export so that the government can earn cash. The result is that any food has to be imported and the vast majority of people live in poverty while a small percentage get rich.
In a lot of cases the problems that cause countries to be poor are well meaning but misguided government policy. This usually occurs when the government tries to manage the economy and becomes too involved. This tends to lead to a lack of investment in the country as there are too many rules that need to be navigated. The result is that the economy never gets the investment that it needs to grow.
In many cases third world nations are poor because for years they have been exploited by the wealthier nations of the world. This is especially true of nations with large reserves of natural resources. Many developed nations have pressured third world nations into agreeing to bad deals that really only benefit the developed nation. The result is that the developed nation gets their hands on the natural resources they need at a cheap price and the third world nation remains poor.
Being a third world nation does not have to be a permanent situation. A number of formerly poor nations have become developed nations in recent years. This is something that looks to be increasing as more and more third world nations are moving towards development. In fact it is happening at a much faster rate than it did in the past. It is used to take many decades for a country to become developed it is now happening in as few as two or three decades. In the not to distant future former third world countries like China and India will be the true economic powers of the world.
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