Antropology

Economies of Developing CountriesDeveloping countries be lagging behind industrialized nations due to historical and frugal reasons . In the 16th century , scientific advancements made in the English fabric fabrication and cagy economic strategies arrive led to England s wealth . In adjunct , modern monetary institutions save created dire situations for growing countries mannikin of of helping them prosperTechnological advancements in the English stuff industriousness have resulted in incr unbosomd in production , which later on made the event industry flourish . The rise of levels in production meant that products can be m stool produced quickly and expeditiously to meet the growing demands of consumers . The said industry also occupied millions of workers .[and] it transformed England into the wealthiest count ries in the world (48 . Unfortunately , this technology was not available to develop nations until many years later . consequently , the concomitant that developing countries did not possess the knowledge ass then to create the technology nor obtain the technology accountability away resulted in a huge gap in production and income . This is because large quantities produced in England also meant that English textile manu occurrenceurers could export their products to more trades , which provided higher revenue for themTo ensure a grocery store for English textile products , the British government out(p) imported Calicoes from India (48 . This also aided the local textile industry to grow . Thus , the said industry survived by escape off foreign competition . However , the same context of use 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 contro l that England has demonstrated , which also! applies to most industrialized nations , crush the growth and expansion of foreign textile industries . This has resulted in a few(prenominal) market shares which was directly responsible in the decline of financial income and constancy of developing nationsBesides , government intervention of industrialized nations benefited and safeguarded the bets of their manufacturers and products .

altogether governments of developing nations were more concerned about gaining their independence at this point in clip and dealing with the complexities that went along with it that economic matters were neglected or set a side . Later on , catching up seemed impossible to do because as societies bedevil , people tended to focus on developing technical skills that allow for 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 in the end 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 plastic 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 distress . Also developing countries end up sacrificing services that they spree to their people because renegotiation of loans normally resulted in.. .If you want to get a just essay, order it on our we! bsite: OrderCustomPaper.com

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