Antropology

Economies of Developing CountriesDeveloping countries atomic number 18 lagging behind industrialized nations due to historical and frugal reasons . In the 16th century , scientific advancements made in the English fabric fabrication and smart economical strategies arrive led to England s wealth . In accessory , modern fiscal institutions gull created dire situations for growing countries test of of helping them prosperTechnological advancements in the English material manu accompanimenture have resulted in incr tranquilityd in production , which later on made the event industry flourish . The rise of levels in production meant that products can be m ass produced quickly and expeditiously to meet the growing demands of consumers . The said industry also engaged millions of workers .[and] it transformed England in to the wealthiest countries in the world (48 . Unfortunately , this technology was non available to growing nations until many years later . why , the concomitant that developing countries did not possess the knowledge ass then to create the technology nor obtain the technology duty away resulted in a huge gap in production and income . This is because large quantities produced in England also meant that English textile manufacturers could export their products to more trades , which provided higher revenue for themTo ensure a trade for English textile products , the British government tabu imported Calicoes from India (48 . This also aided the local textile industry to grow . Thus , the said industry survived by evade off foreign competition . However , the same set could not be said for India , in particular , because the British government imposed that English manufacturers should be admitted without tariffs in India (40 . The market control that England has demonst rated , which also applies to most industria! lized nations , subjugate the growth and expansion of foreign textile industries . This has resulted in a couple of(prenominal) market shares which was directly responsible in the decline of financial income and stability of developing nationsBesides , government intervention of industrialized nations benefited and safeguarded the avocations of their manufacturers and products .

solo governments of developing nations were more concerned about gaining their independence at this point in meter and dealing with the complexities that went along with it that economic matters were neglected or set aside . Later on , catching up seemed impossible to do because as societies pull in , people tended to focus on developing technical skills that leave enable them to work in the corporate worldEqually important is the fact that modern financial institutions make it hard for developing countries to ease up off their loans . The financial interest , which will at long last pick up and get bigger over time that institutions like IMF and humankind Bank set on their loans are expensive and seem almost unattainable despite the efforts of developing nations . The interest located on loans does not seem flexible as advantageously and take into consideration the economic stability of a particular country Paying off the interest and the loan itself vertical plunges countries more into debt instead of alleviating them from economic rigour . Also developing countries end up sacrificing services that they adduce to their people because renegotiation of loans normally resulted in...If you want to g et a well(p) essay, order it on our website: OrderCustomPaper.com

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