Country - No natural resources?
Why can a country that has no natural resources still have good economic development?
- 2 months ago
Because they can still add value to those natural resources, take China - they purchase the natural resource of copper from Zambia, they then add value to this product by turning into cables to then be sold across the globe and back to Zambia itself.
- 2 months ago
Because their people are smart and productive. Like South Korea and Japan.
- ?Lv 62 months ago
National resources are only a type of capital goods. To be developed, the country needs man-made capital goods. The most important thing has been proved is capital goods. Japan and South Korea for example are poor at national resources. It uses the export oriented policy, import raw material, and improve human capital inland, to process more value-added products for export. Great human capital like Singapore can be a big hub, without its own natural resources. The most richest natural resource country like Australia has been on the contrary independent of China for years.
- ZirpLv 72 months ago
A multilingual highly educated workforce helps
or being a taxhaven
- What do you think of the answers? You can sign in to give your opinion on the answer.
- busterwasmycatLv 72 months ago
Valuable human resources are one way.
- NotLv 52 months ago
Low taxes, less regulation, no corruption, and nice well-mannered people.
How could that not foster good economic development?
- Anonymous2 months ago
They can process raw materials from neighboring countries, provide services.