KEY PLAYERS IN ANY ECONOMY
Introduction
In every country there are important determinants that decide the course of the economy. Nations shared prosperity is important to its global rating especially in terms of country poverty or prosperity index. This post will briefly highlights some of these key players:
Policymakers
Polices are the bedrock of any economy, they drive any economy. If the policies fail then the economy might fall surely. Policies guiding trade, currency, investment and loans acquisition go along way in influencing the outcome of any economy. This is also closely connected to leadership, because they are responsible for policies decisions.
Technology advancements
The technological drive of a country will determine how competitive the market will be both locally and internationally. Several people are against technological advancements because of unfounded conspiracy theories. If any country must succeed economically, they must invest in their technological growth and adoption by the populace. A major example is the 5G network innovative, which is designed with superb speed and network quality that can further driver the internet needs of the 21st century.
Import or export driven
The position and growth direction of any country should be towards attaining self sufficiency and subsequently exporting to other countries. These increase the GDP of any country, therefore boasting the economy. Countries around the world are maximising their human resources to industrialised, becoming the manufacturing hub of the world. The emphasis here is that a country should be known for a major products its export but beyond that it should also developed its educational system to equip their younger generation on what it takes to take the world.
International relations
Bilateral relations between countries cannot be underestimated when talking about boasting a particular country's economy. Investment from abroad are key to the development of basic amenities in their host communities. Countries that possess strong bilateral relationships tend to take a strong economy because they often exchange trades facilities for mutual interest.
Thank you for reading my write-up.
Hi @gboye1
The first point is the most complex "Responsible politicians, I think there is a lot of darkness on this issue, I dare to say that it is very difficult anywhere in the world to get responsible rulers, so this is the stone that blocks the sustained development of emerging countries.
Greetings, be well.
All the factors you name are important axes in the economy of any country.
Although I find that the aspect of international relations plays a very important role and of course the politicians have the baton and control there in this regard.
Well, they are the ones who decide the regulations and laws that are going to be applied with respect to all trade, the gross domestic product and other things.
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STOPThe points you mention regarding the economic course of each country are good, unfortunately there are variants that go beyond the theory that come into play, product of inequalities, then the ones that should not be paramount are put before the basic ones. The power game between powers and industrialized countries play the main role in the implementation of these points, since even if the economic policies are correctly oriented, the acquisition of technology, imports or exports depend on the political current of the government in power. @tipu curate 2