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Author Topic: What boosts a country's economy?  (Read 1901 times)

Offline Celsius

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Re: What boosts a country's economy?
« Reply #15 on: March 31, 2024, 01:32:20 PM »
In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
A country's economic condition is strengthened only when the country's natural resources and man-made resources grow greatly in that country. No matter how productive a country is, the economic condition of that country will not be good unless it is able to utilize its man power properly. But the economic condition of my country Bangladesh is so bad that no matter how productive the economy is in my country, no matter how advanced the manpower of my country is, the political condition of my country is not good at all. Bad language that is not in a state to express.
I basically think that if the political context of a country is good and if there is less corruption in that country, if that country does not have manpower then that country must achieve economic prosperity and solvency in one way or another. Even though our country has 100% manpower positive we are one of the least developed low income countries in the world only because of political instability.

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Re: What boosts a country's economy?
« Reply #15 on: March 31, 2024, 01:32:20 PM »

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Offline DabsPoorVersion

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Re: What boosts a country's economy?
« Reply #16 on: March 31, 2024, 01:44:00 PM »
What do you think is the main factor that affects a country's economy positively today?
Natural resources is for me the main factor here since it is available within the country's control. Explorations of these resources and utilizing all of it will boost the economic growth if found to be abundant of minerals, oils and natural gases. Example to this is the middle east as they is rich in oil and natural gases.

Ideally, natural resources can boost a country's economy since they can bring prosperity to a country by attracting investors thereby paving the way for citizens to work and improve the economy but in Nigeria, our natural resources have not brought about prosperity in the country. Sadly, we export our natural resources to different countries and these countries will process the natural resources and then we import the finished product at a higher cost.

So, basing my argument on Nigeria, I disagree with you that natural resources are the main factor that can boost a country's economy. Natural resources cannot harness itself and bring prosperity to a country but rather policies in place as mentioned by the OP are what matters. Whether natural resources become a cause or a blessing to a country depends on government policies regarding its importation and exportation or how it can be harnessed locally to boost the country's economy.
That's unfortunate. If the government of Nigeria only knows how and what correct policy to implement, importing it to other countries will not be the only option to sustain the economy of the country. What the government needs in your country is to give more attention and invest in those natural resources to make it grow and be one to be the biggest possible sources of income to boost the economy.

But we cannot remove the fact that in some other countries, the same as stated above, the government is making use of their natural resources for the better of their country's economic status. It can be the main factor or not, mainly depending on the governance of different countries.
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Offline abhiseshakana

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Re: What boosts a country's economy?
« Reply #17 on: April 01, 2024, 05:01:17 PM »
In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?

Micro, small and medium enterprises are the main drivers and pillars of the economy in Indonesia, and these MSMEs have proven to be resilient in facing the Covid pandemic. This is because MSMEs produce consumer goods and services that are close to people's needs. MSME business actors generally utilize local resources, whether for human resources, capital, raw materials, and equipment and do not use imported raw materials and finally MSMEs do not rely on capital from the banking sector, so they are not affected by interest rates or dollar fluctuations.

Offline Uruhara

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Re: What boosts a country's economy?
« Reply #18 on: April 03, 2024, 03:00:03 AM »
In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.

Offline 0t3p0t

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Re: What boosts a country's economy?
« Reply #19 on: April 03, 2024, 03:51:16 PM »
In our society today, different countries have their own economy and some are better than the others because of their government policies to the economy.
Import and exchange today isa key factor that improves a country's economy, but many people do not know what it is all about.
For me I will say that government policies play a key role in the economy and also import and export of natural resources and cash crops too helps to boost the economy.
What do you think is the main factor that affects a country's economy positively today?
In my opinion, a positive thing that can be seen as progress in a country's economy is when the unemployment rate decreases and the level of people's purchasing power increases. And the characteristics of a country's economy declining are when people's purchasing power decreases. Usually the increase in people's purchasing power is also marked by an increase in the number of small businesses and the emergence of private companies owned by local communities that can absorb more workers in the surrounding area. Export and import do play an important role too, but that's at an advanced level.
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.

Offline Alston Liu

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Re: What boosts a country's economy?
« Reply #20 on: April 12, 2024, 05:03:10 AM »
I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.

Offline 0t3p0t

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Re: What boosts a country's economy?
« Reply #21 on: April 12, 2024, 09:11:21 AM »
I would say the industry level of the country and young people. Besides, a high level of consumer is necessary to activate the economy.
Here in my country, we send people abroad to work and then these workers send money back home and that has huge impact in our economy. I just forgot the exact term for that but that is one factor that boosts our country's economy.

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Re: What boosts a country's economy?
« Reply #21 on: April 12, 2024, 09:11:21 AM »


Offline EluguHcman

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Re: What boosts a country's economy?
« Reply #22 on: April 12, 2024, 02:26:29 PM »
It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.

Offline Emmanuel1

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Re: What boosts a country's economy?
« Reply #23 on: April 13, 2024, 12:10:51 AM »
What do you think is the main factor that affects a country's economy positively today?
The major thing that will boost the economy of a country is good leadership. When you have good leaders in the country they will enact good economy policies, that will cause the economy of the country to be strengthen and grow stronger. So the major criteria,for economy of the country to grow is good leadership. That's my opinion.

Offline 0t3p0t

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Re: What boosts a country's economy?
« Reply #24 on: April 14, 2024, 12:06:54 PM »
It is as simple as that to say infrastructures produces economy revenues and also attracts foreign investors including cooperative affairs.
True but that if there were no anomalies or corruption happening in a specific country. Taxes and investments will fall just because of unstable economy caused by the mismanagement of politicians and foreign investments will no longer give a try due to the fact that there is an economic instability and conflicts.

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Re: What boosts a country's economy?
« Reply #25 on: April 14, 2024, 01:53:59 PM »
....
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.

Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value.  A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.

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Re: What boosts a country's economy?
« Reply #26 on: April 19, 2024, 10:17:07 AM »
....
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.

Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value.  A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.

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Re: What boosts a country's economy?
« Reply #27 on: April 19, 2024, 03:48:43 PM »
....
Yes import and export is where most countries rely on especially on commodities, technology and machineries. But what really is the root of export and import is the abundance of resources.

Unfortunately a controversial statement - there are many examples of countries that have excellent resources, but the population lives very poor. Resources in "crooked hands" are just a resource for corruption schemes and building a primitive raw material economy aimed at the primary processing of raw materials (scooti its extraction and "packaging"). The main income is obtained when the resource is transformed into a final product with a HUGE added value.  A simple example is oil. It is extracted, poured into a tanker, sold. Between the cost of extraction and the selling price, let's say 50%. But if you take gasoline as the final product - between the cost of oil and gasoline - the difference will be huge. Or silicon - extracted, purified and "poured into boxes" - the margin is also tens of percent. And between 1 kg of silicon and processors that will be produced from it - the difference is many orders of magnitude! Therefore, the modern world is dependent on resources, but the main beneficiary is the one who has the technology to transform it into a product with a huge added value.
Yeah exactly that is actually had happened here in my country a lot of corrupt politicians I think majority of them has anomalies. Our country is rish in natural resources but we are having a hard time extracting and processing it to the final product so that's where we rely on other country's high technology which will also be having shares from the profit of extracted mineral. This actually a never ending problem if we are talking about politics which controls the entire country including those resources.

The problem of corruption elevated to the status of power, through the construction of an oligarchic system of power sharing, is also well known in my country ... I am ashamed and unpleasant, but it is true. But I have to note that the population of my country's "patience broke" at the end of 2013, and the oligarchic-corrupt government was destroyed. No, I will not make up a fairy tale that such a model of power was completely destroyed, but there are still elements of it. But if no action is taken, after some time the power in the country will become absolute, total, and it will no longer have the slightest interest in the population. And we can observe many such examples. It should be added - having TOTAL power, local "gods" do not think about the efficiency of the economy, they are interested only in money. The disenfranchised population will extract resources for pennies, the authorities will sell it at their discretion, and 99% of the income will remain in their pockets. And the population will be told about "external enemies", "world conspiracy", "insidious capitalists", etc. "fairy tales". Therefore, we must realize that the population of the country is the power. Presidents, ministers, deputies are hired managers, hired by the population of the country and paid by the population of the country. And the population of the country, as an employer, should manage these "hired personnel" but not vice versa.
And hired managers should offer solutions to increase efficiency:
- economy and industry
- social, domestic and foreign policy
- defense
etc.

Offline emmybd

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Re: What boosts a country's economy?
« Reply #28 on: May 15, 2024, 04:04:57 PM »
These days there are various factors that aid to the economic development of a country. Good political relationship with Western countries are very important for economic growth. If a country is to grow consistently then it has to have long term plan; moreover political stability is also very important.

Offline Zed0X

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Re: What boosts a country's economy?
« Reply #29 on: May 16, 2024, 10:34:39 AM »
These days there are various factors that aid to the economic development of a country. Good political relationship with Western countries are very important for economic growth. If a country is to grow consistently then it has to have long term plan; moreover political stability is also very important.
LOL Yeah, I guess a strategic relationship with the West is also a big factor. If a countries' political leader is not aligned with them, expect various accusations thrown at him/her and, of course, economic sanctions. Destabilization is also like a common practice among developed countries to force their way in developing countries.

 

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