FACTORS THAT DIFFERENTIATE THE ECONOMIC WEALTH OF COUNTRIES

When it comes to global economic power, various countries have different economic power and active resources. Despite the fact that every country has natural resources, some countries are known to be wealthier than the other.

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News have carried it that every country is growing in one way or the other, but what distinguishes these countries from each other is that some countries growth rate is on a very fast level and some countries are growing very slowly.

There must be reasons why some countries have continued to grow and other countries keep struggling with growth. In order to enjoy the better life available in other developed countries, so many people prefer to abandon their countries and run off to those countries that are growing well, this will help them enjoy certain life luxury and even secure a better future for their kids.

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Characteristics of poor countries.

Poor countries are noticed to have high percentage of corruption, everything and almost everyone in the country is corrupt as citizens of those countries are either trying to steal from one another or trying to steal from the government’s purse. A country like this is usually characterized with only a certain group of people who know how to play ‘’smart’’ looting all the money meant for the provision of good roads and good life for its citizens.

Poor countries are usually failures in terms of academic institutions as funds for the academic institutions are looted by the top officials. A country without a good academic institution is a failed nation and the top officials who know that already, get their kids to study in other countries who have worked on developing its own academic institution.

Poor countries do not get access to have intelligent people in governmental offices, because in poor countries if you have to get a good paying government job then you must be related to the top officials despite the fact that you have a good certificate.

Poor countries usually have most of their population believing in the religious fact that it is wrong to build wealth and the right place to gather wealth is when you pass to the world beyond, so they sit idle and enjoy poverty hoping that they will get to enjoy when they die and go to the next world.

The presence of mineral resources in a poor country makes the country poorer because the greedy top officials see it as an opportunity to make more money for themselves and instead of placing focus on development, it is considered a fast money making facility.

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The characteristics of rich countries.

The situation is however different in rich countries as they experience the opposite of what happens in the poor countries. Rich countries have good political institutions with leaders who are concerned about the growth of the country, their kid school in their country so they understand the importance of building their educational system very well.

Rich countries are particular about using the tax paid for continuity and building up new structures unlike the poor countries who do not use their tax for the growth of the country. The rich nations are also filled with citizens who believe in their own ability to develop or build something that could help them gather wealth unlike poor countries who only believe in the world beyond.