Many poor economies are poor not because they do not have the resources to become rich, but because they do not have the means to tap their available resources.
How far is this true in your opinion?Jaypeesdoc. 26/3/09


The major factors that decide the strength of an economy are human resource, natural resource and market resource. If we look at the poor economies around the world, we can see that they all have enough such resources. But, they do not have the means to tap them so that they could be rich. 55 words

Many poor economies are suffering not from resource crunch but from poor support resources to tap the resources they have. Many poor economies are blessed with great natural resources. For example, African countries have great gold and oil reserves, but they do not have the means to tap them as it demands a lot of infrastructure and technical know-how. Though the rich nations have them, poor nations do not have access to such facilities. Naturally their resources remain untapped and they keep going poor. 85 words.

To make it clearer, let us look at another example. India is a huge manpower destination. But it does not have the infrastructure to accommodate this much educated manpower. So, excellent manpower and their contributions go waste leaving the nation poor. So is the case with its enormous tourism potential. India is not fully equipped for tapping all the tourism prospects it has. And finally, it is equally known that third world nations are huge markets. But these market resources are exploited by the rich. 85 words.

The above points and examples make it right to conclude that poor economies are poor due to their inability to tap their available resources. If the rich nations around the world could extend a helping hand to these economies, they may slowly become rich nations in the coming days. 45 words



270 Words. Jaypees. 26/3/09