Antropology

Economies of Developing CountriesDeveloping countries are lagging behind industrialized nations collect to historical and frugal reasons . In the 16th century , dependable advancements made in the side material fabrication and crafty frugal strategies devote led to England s wealth . In appurtenance , modern financial institutions discombobulate created dire situations for develop countries or else of helping them prosperTechnological advancements in the English textile constancy have resulted in increased in production , which later on made the situation industry flourish . The rise of levels in production meant that products can be mass produced quickly and expeditiously to meet the growing demands of consumers . The give tongue to industry withal mobile millions of workers .[and] it transformed England into t he wealthiest countries in the world (48 . Unfortunately , this engineering was non available to developing nations until many years later . thence , the circumstance that developing countries did not possess the knowledge screen up then to create the technology nor obtain the technology veracious 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 market places , which provided higher taxation for themTo ensure a market for English textile products , the British political relation taboo imported Calicoes from India (48 . This also aided the local anesthetic textile industry to grow . Thus , the said industry survived by baseball swing dark opposed contest . However , the same stipulation could not be said for India , in particular , because the British government imposed that English manufacturers should be admitted without tarif fs in India (40 . The market control that En! gland has demonstrated , which also applies to most industrialized nations , smother the growth and expansion of foreign textile industries . This has resulted in few market shares which was directly amenable in the decline of financial income and stability of developing nationsBesides , government intervention of industrialized nations benefited and safeguarded the amuses of their manufacturers and products .

precisely governments of developing nations were more refer about gaining their independence at this point in term and dealing with the complexities that went along with it that frugal matters were neglected or conform aside . Later on , catching up depended unrealizable to do because as societies relegate , people tended to focus on developing technical skills that entrust enable them to work in the corporate worldEqually important is the fact that modern financial institutions choose it hard for developing countries to contribute off their loans . The financial interest , which will eventually stack away and get bigger over time that institutions like IMF and macrocosm Bank fit out on their loans are expensive and come out almost unattainable despite the efforts of developing nations . The interest set(p) on loans does not seem flexible as surface and take into consideration the economic stability of a particular country Paying off the interest and the loan itself unspoiled plunges countries more into debt instead of alleviating them from economic hardship . Also developing countries end up sacrificing go that they offer to their people because renegotiation of loans commo nly resulted in...If you want to get a full essay, or! der it on our website: OrderCustomPaper.com

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