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Old 07-22-2017, 09:18 PM
 
Location: Sydney, Australia
9,781 posts, read 5,723,510 times
Reputation: 4755

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Rich: Australia started as off a penal colony. It's isolated from the world. And yet it has a strong economy and is one of the most livable countries in the world. New Zealand too, for the reason of isolation (although it didn't start out as a penal colony).

Poor: Some countries in subsaharan Africa have excellent natural resources. I'm not sure why they're so poor (particularly South Africa). Mexico, although not that bad by world's economy standards, can also be a lot more richer, considering that its neighbour is the US.
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Old 07-22-2017, 10:52 PM
 
109 posts, read 61,066 times
Reputation: 72
Australia is a country full of rich, natural resources (and so is my country, Argentina). No wonder Australia is developed, they've taken advantage of those resources in a smart way.

Argentina should be as good or even better than Australia but due to high level of corruption from our previous governments we couldn't. Now on October 22 there are legislative elections (it's "all or nothing") which could reinforce Mauricio Macri's government and lead us to a stable and sustainable path towards development (and make the reforms that are needed).

As a side note, next year Argentina is hosting the G20 meeting and also wants to be a full member of OCDE.

Argentina has literally everything to give its full potential. Everything is yet to be seen.

You guys are doing what we should have done from the very beginning.

An article related to this: http://theconversation.com/argentina...c-success-7032

And another one: https://economix.blogs.nytimes.com/2...-to-argentina/

Last edited by adrianf91; 07-22-2017 at 11:41 PM..
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Old 07-22-2017, 11:00 PM
 
6,128 posts, read 1,623,093 times
Reputation: 2243
Australia is an enormous country with vast resources, and a relatively small, civilised population. It's obvious why it's rich. New Zealand started out with good government, and it actually isn't as rich as a lot of people seem to believe, but still a well-off nation.

Despite vast resources, sub-Saharan Africa has been playing catch-up for a very long time. European pillaging didn't help, but it did also leave behind modern technology, nation states, and democratic forms of government. The problem now is corruption and very high birthrate.
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Old 07-22-2017, 11:04 PM
 
6,128 posts, read 1,623,093 times
Reputation: 2243
Quote:
Originally Posted by adrianf91 View Post
Australia is a country full of rich, natural resources (and so is my country, Argentina). No wonder Australia is developed, they've taken advantage of those resources in a smart way.

Argentina should be as good or even better than Australia but due to high level of corruption from our previous governments we couldn't. Now on October 22 there are legislative elections which could reinforce Mauricio Macri's government and lead us to a stable and sustainable path towards development.

Argentina has literally everything to give its full potential. Everything is yet to be seen.

An article related to this: Argentina can learn from Australia's economic success
Before WWI Argentina was one of the ten weathiest nations in the world, ahead of most of Europe, but decades of politcal instability and general bad governance have held the country back for a very long time.

The nation in South America with the greatest potential for wealth is Venezuela, due to its enormous oil reserves. But as usual, it's held back by a bad government that stubbornly clings to discredited economic theories.
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Old 07-23-2017, 03:26 AM
 
Location: BC Canada
737 posts, read 726,690 times
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It's true that since WW2, Argentina has been the biggest world under achiever.
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Old 07-23-2017, 04:01 AM
 
Location: London, UK
1,772 posts, read 766,674 times
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Venezuela should be richer than Saudi Arabia and United Arab Emirates. Instead its plagued by fanciful socialist policies and corrupt & egotistical leadership.
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Old 07-23-2017, 06:23 AM
 
Location: Great Britain
5,054 posts, read 1,556,019 times
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Africa is full of natural resources and parts of it are verey beautiful.

Sadly civil wars and tin pot dictators have played a part in Africas current situation as have unfair trading conditions with the West.
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Old 07-23-2017, 07:56 AM
 
Location: western East Roman Empire
5,591 posts, read 9,339,854 times
Reputation: 4176
Quote:
Originally Posted by Razza94 View Post
... civilised population ... good government


... corruption ... general bad governance
These are the keys here.

Also sense of purpose and social organisation are very important, including resource transformation entities (e.g. businesses, business management practises).

Good Luck!
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Old 07-23-2017, 08:13 AM
 
3,990 posts, read 4,893,732 times
Reputation: 1910
Quote:
Originally Posted by Ethereal View Post
Rich: Australia started as off a penal colony. It's isolated from the world. And yet it has a strong economy and is one of the most livable countries in the world. New Zealand too, for the reason of isolation (although it didn't start out as a penal colony).

Poor: Some countries in subsaharan Africa have excellent natural resources. I'm not sure why they're so poor (particularly South Africa). Mexico, although not that bad by world's economy standards, can also be a lot more richer, considering that its neighbour is the US.
Australia is rich in natural resources. Also it has a small population for its size and that is an factor of why it is wealthy. Also it has a stable government as well.

New Zealand is wealthy but not as wealthy as Australia. It has a stable government as well.

South Africa is not really poor for African standards. It is developed however a majority of the population still lives in poverty.

Botswana is also wealthy for African standards. It is also the best country in Africa to do business according to surveys.

Iran should be as wealthy as Saudi Arabia and unlike Saudi Arabia it has a lot of fertile land.

Israel is a surprise as the land there seems more fertile than other regions close by, even though they have the similar climate.

United Arab Emirates is a surprise and they have used the wealth they made wisely.

Venezuela should be wealthy as well, but has massive social and economic problems.

Last edited by other99; 07-23-2017 at 08:29 AM..
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Old 07-23-2017, 08:16 AM
 
1,847 posts, read 1,048,442 times
Reputation: 1083
* Nigeria is oil rich, 50% Muslim, yet far poorer than UAE or Quatar, Kuwait;
* Monaco compared to neighboring Genoa, not that Genoa is poor but the big contrast...;
* Russia, given their natual resources and the fact that they were never ruled by someone else for long periods of time;
* Greece should be richer too.
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