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Why There Exists Rich and Poor Countries

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WHY THERE EXISTS RICH AND POOR COUNTRIES

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Some countries are poor whereas others are rich because of the geographical location of the said countries. Countries that is in places that are favored with minerals like oil, gold and diamond usually are stable thus rich as compared to countries that have no minerals on their land. In geographical consideration some countries have good climatic condition that favors food production and thus trading these products to enrich their status. Those that do not have good climatic condition with no minerals have to rely on others for support.

Another reason why some countries are poor is because the political environment in their country is unstable. War, corruption, trading ways and mismanagement of countries resources leads a country to poverty and underdevelopment. Rich countries usually have defined laws and they are politically stable thus giving way to development in the country. Social and cultural factors may also contribute towards development or under development of a country, Andersen (2011) . Discrimination, racism, technology, population size also contribute to the situation of a country, whether poor or rich.

Some countries are catching up with development because they are devising other option to improve their living and economic growth. Many countries are now introducing new technology, controlling populations and finding other ways to improve the economic stratus of their countries. If the level of development is low and there is over population, then the country may not be able to catch up with the rest of the world.

Generally, what makes a country rich or poor depends on the economic status of that country, the availability of resources and the utilization of those resources. This therefore implies that a country will be stable rich if it is able to utilize the economic factors available to be able to develop, a stable economy. Failure to that will lead to the poor and the rich and the underdevelopment of a country.

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