Rich And Poor Countries

After all poor countries are characterized by many negatives.

Rich and poor countries. When you see a rich person in a poor country he is either a politician that has stolen government money or he has done some illegal stuff. Low levels of human capital formation 5. Poorer countries and younger people say they are facing the greatest hardship. The following points highlight the top ten factors affecting the development gap between the rich and the poor countries.

The developing part of developing country may be considered euphemistic or perhaps optimistic as many of the poorest countries are hardly. A poor country might spend as little as 19 per person. Many of the poorest countries in africa are also among the poorest countries in the world. A drop in income was reported by 69 of respondents in poorer countries in comparison to 45 in richer ones the.

Rich vs poor countries. What makes a rich country rich and what makes a poor country poor. If we simply consider a nation s gross domestic product gdp the sum total of all goods and services produced by a country during one year then we would have to conclude that the richest nations are exactly the ones with the largest gdp. Rich and poor countries on one side the developed countries of the first world the rich industrialized nations of the world and on the other side the developing countries the third world with low average income.

The democratic republic of the congo for example is rich in mineral resources and even has one eighth of global capacity for the production of hydroelectricity. Economics use certain indexes like gdp and income per capita to measure the productivity of nations. It may be easy to distinguish the rich and the poor country but there is probably no single indicator for a country to be called ultimately rich. Essay on the development gap between the rich and the poor countries.

Dependency and unequal exchange 6. Given the enormous human suffering caused by the differences in living standards between rich and poor countries it may seem beside the point to focus attention as the equality trust does on the inequalities within the rich countries. No job rampant corruption and a population with little or no money. The irony is that many of the badly governed poorest countries on earth have the potential to be very rich countries because they are teeming with resources.

Despite being rich in natural resources the economies of some african countries are negatively impacted by high rates of corruption lack of proper medical and education facilities underdeveloped infrastructure civil wars political unrest and other such problems. Measuring how rich you are depends to a large degree on how rich and poor countries are defined. A rich country might spend 5 000 or more on health care per person. How will that affect responses to the novel coronavirus.

More equal societies spend a higher proportion their income on overseas aid and perform better on the global peace index.