NOa asked in Social ScienceEconomics · 2 months ago

Country - No natural resources?

Why can a country that has no natural resources still have good economic development?

7 Answers

Relevance
  • 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.

  • Oiy
    Lv 6
    2 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.

  • Zirp
    Lv 7
    2 months ago

    A multilingual highly educated workforce helps

    or being a taxhaven

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  • 2 months ago

    Valuable human resources are one way.

  • Not
    Lv 5
    2 months ago

    Low taxes, less regulation, no corruption, and nice well-mannered people.

    How could that not foster good economic development?

  • Anonymous
    2 months ago

    They can process raw materials from neighboring countries, provide services.

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