All the nations of the world would be developed nations in the future depending upon several factors.
There are variations in the economic development of the countries due to historical, economical, social, geographical, political reasons.
The developed countries of the world such as the U.
S.
A.
, analysed the local conditions effectively and correctly at an early stage and thus their economic policies have been exactly suitable for their nations.
Hence it could become a developed nation at an early stage.
India would have been a developed nation had it not been a colony of Britishers, and had the population growth rates minimised.
India also has been spending huge amounts on defence due to internal and external strife.
For instance, it has been facing the problems of terrorism both within the nation and also from other neighbouring nations.
India possesses huge quantities of natural resources and also has favourable climate to grow a wide range of crops.
But political and administrative corruption seem to be one of the major obstacles for India's growth though the social and economic policies are effective on paper.
For instance, the mixed economic system soon after independence and the present market oriented policies are suitable for India's domestic economic and social conditions.
Lack of proper technology, scarce natural resources, ineffective economic and social policies, high growth rates of population, poor quality of human resources, depressing infrastructure quality, recurring natural calamities, high cost of production of goods and services thus low comparative and absolute advantage in certain products, dependency on external resources, lack of demand for their primary products in the international market, etc would delay the progress of nations.
Many African nations are in the process of development with the assistance from other nations.
For instance, India helps some of these nations in their social and economic development.
China has been involved in infrastructure development in some African countries.
Some of these countries frequently face the problem of diseases to the human resources and poor medical care, which is responsible for low production and productivity levels.
Most of the population of these countries depends upon primary economic activities leading to meager saving rates and investments which is responsible for low capital accumulation and economic growth.
Some countries of the world have been producing goods and services by using obsolete methods.
Such methods are responsible for low yields and thus very low quality of life, life expectancy of the human resources too.
For instance, in many parts of India, Pakistan, Bangladesh, Srilanka, etc farmers still depend on traditional methods of crop production.
Bangladesh, Srilanka do loss wealth often due to recurrence of natural calamities such as floods.
Some countries which are in the polar regions do not have favourable climate which has been retarding the progress of the civilisations.
Australia and other pacific nations have been facing threats from cyclones, floods.
Similarly world's third largest economy Japan would have been in a better position had it learnt to predict the devastating calamities such as earthquakes.
Thus natural calamities also play a role to delay the growth of economies.
The present unrest in the Arab world is due to the prolonged rule by some dictators who have not been innovative in taking measures for the speedy economic growth of these nations.
There are variations in the economic development of the countries due to historical, economical, social, geographical, political reasons.
The developed countries of the world such as the U.
S.
A.
, analysed the local conditions effectively and correctly at an early stage and thus their economic policies have been exactly suitable for their nations.
Hence it could become a developed nation at an early stage.
India would have been a developed nation had it not been a colony of Britishers, and had the population growth rates minimised.
India also has been spending huge amounts on defence due to internal and external strife.
For instance, it has been facing the problems of terrorism both within the nation and also from other neighbouring nations.
India possesses huge quantities of natural resources and also has favourable climate to grow a wide range of crops.
But political and administrative corruption seem to be one of the major obstacles for India's growth though the social and economic policies are effective on paper.
For instance, the mixed economic system soon after independence and the present market oriented policies are suitable for India's domestic economic and social conditions.
Lack of proper technology, scarce natural resources, ineffective economic and social policies, high growth rates of population, poor quality of human resources, depressing infrastructure quality, recurring natural calamities, high cost of production of goods and services thus low comparative and absolute advantage in certain products, dependency on external resources, lack of demand for their primary products in the international market, etc would delay the progress of nations.
Many African nations are in the process of development with the assistance from other nations.
For instance, India helps some of these nations in their social and economic development.
China has been involved in infrastructure development in some African countries.
Some of these countries frequently face the problem of diseases to the human resources and poor medical care, which is responsible for low production and productivity levels.
Most of the population of these countries depends upon primary economic activities leading to meager saving rates and investments which is responsible for low capital accumulation and economic growth.
Some countries of the world have been producing goods and services by using obsolete methods.
Such methods are responsible for low yields and thus very low quality of life, life expectancy of the human resources too.
For instance, in many parts of India, Pakistan, Bangladesh, Srilanka, etc farmers still depend on traditional methods of crop production.
Bangladesh, Srilanka do loss wealth often due to recurrence of natural calamities such as floods.
Some countries which are in the polar regions do not have favourable climate which has been retarding the progress of the civilisations.
Australia and other pacific nations have been facing threats from cyclones, floods.
Similarly world's third largest economy Japan would have been in a better position had it learnt to predict the devastating calamities such as earthquakes.
Thus natural calamities also play a role to delay the growth of economies.
The present unrest in the Arab world is due to the prolonged rule by some dictators who have not been innovative in taking measures for the speedy economic growth of these nations.
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