TRANSFORMING THE ECONOMIES OF DEVELOPING COUNTRIES

A closer look at the Economies of Developed Countries shows as high as 98 percent of the Labor force is engaged in the Secondary and Tertiary Sectors combined while the remainder 2-4 percent is engaged in the Primary Sector. Conversely, in Least Developed/ Developing Countries between 50-80 percent is engaged in the Primary Sector while a much smaller percentage can be found in the Secondary and Tertiary Sectors. This situation is an irony because despite the fact that the bulk of the Labor force is engaged in the Primary Sector in Least Developed /Developing Countries, they have on several occasions been vulnerable to food insecurity, poverty, diseases and “near” to bankrupt Economies. Despite this most Developing Countries still continue to rely heavily upon several primary goods whose prices have perpetually remained low. On the flip side most Developing Countries are potentially rich with their richness coming from a wide range of natural resources encompassing fantastic climatic and weather systems with a few exceptions, minerals, bio-diversity and fertile lands. Despite these advantages the paradox is that most of the poorest people on earth today could be found in Developing Countries.

Based on Sectoral analysis of statistical data on GDP in the Economies of Developing and Developed Countries it is logical to conclude that there is a correlation existing between the Sectoral distribution pattern (of Labor/GDP and overall GDP creation) in the Economy where a slimmer Labor force/smaller GDP in the Primary Sector and the subsequent increase in the Labor force and GDP creation with progression from the Secondary to the Tertiary Sector resulted in phenomenal cumulative GDP growth per nation.

Could the disproportional distribution pattern of Labor/GDP skewed toward the Primary Sector be the obstacle to autarky; or could it be because of corruption at the highest levels in African, Latin American and South East Asian government circles be the culprit; or further could it be attributed to lack of Technological Engineering efficiency and Economic Efficiency; or could it be attributed to lack of value addition methodologies and processing of commodity goods and lack of export diversification platforms in Developing Countries or a combination of the above-mentioned factors?  The only way to find out is to read this book to unravel this mystery!

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http://www.amazon.com/dp/1475155298

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