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I like to think that countries that are rich have figured out things about themselves that they have and are really needed by the rest of the world, and so they
by smithmayowa 9y ago
I like to think that countries that are rich have figured out things about themselves that they have and are really needed by the rest of the world, and so they provide those services to the rest of the world for a price and use the proceeds from those services to develop the infrastructure and well-being of their country; for instance a very important well-being improving task is diversifying their economy, this they do to protect against unforeseen shifts in the global market.
The summary of this is that rich country figured out low hanging and easy fruits of services(for them that is, as if it was easy for others they could not hope to sell such services.) they could provide for a fortune and use those proceeds from those services to chase after high hanging fruits of services they could deliver to the world as those one's usually require intense capital.
Poor countries therefore either have not figured out services they could provide for the world or they have figured it out but are not investing the proceeds from it in the infrastructure and well-being of their country, being a Nigerian I would say most poor African countries are poor not because of the former but the later due to corruption,tribalism,e.t.c.