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On differences between rich  and poor countries...

Published : Wednesday, 3 June, 2020 at 12:00 AM  Count : 217

On differences between rich  and poor countries...

On differences between rich  and poor countries...

According to the United Nations recent statistics, there are 195 countries in the world. At least 25 of the 195 countries are very rich. The average per capita income in these countries is incredibly high, more than $100,000 a year. On the other hand, at least 20 countries in the world are poor, and the average per capita income is about $1000 per year, which means $3 a day for per person. Prosperous countries are growing more than in developing countries. For example, if Zimbabwe continues to progress as it is now, it will have to reach a GDP of $100,000 in 2722. However, from the above statistics, it is clear that 102 countries are located in Africa and Asia, where most people live in the world with extreme poverty and unpleasant livelihood experiences.

The question is why rich countries are progressing and why developing countries are stagnant and facing all obstacles? Three things determine whether a country will become rich or poor; these are Institution, Culture and Geography. First, rich countries have large and stable institutions where the necessary services are provided for the citizens of the state. In contrast, poor or emerging countries have unstable and rudimentary institutions where primary facilities are not available for citizens of the state. Developing countries are corrupt, and it comes mainly from weak institutions. On the other hand, rich or developed countries are less corrupt, and their institutions can perform independently and democratically.

Developing countries often fail to collect adequate taxes, which hinders the development process of the states. Most importantly, financial institutions in developing countries are inferior. Many developing countries like Bangladesh have failed to control money laundering in the recent past. In developing countries, about 10 to 20 billion dollars are illegally transferred to foreign accounts every year. As such, the health, education, safety and transportation sectors of developing countries remain underdeveloped.

Another critical issue is that developing countries do not follow the right strategy in the talent recruitment process. Political background, nepotism and personal preference are the main methods of selecting candidates for the best position. In western and european countries, on the other hand, select candidates mainly based on their honesty, dedication, qualifications, education and real-life experience, which is severely lacking in developing countries. As a result, most developing countries, such as Bangladesh's institutions, are not well-developed and well-governed by democratic principles.

Another critical issue is the culture. Culture can be and should be considered as one of the main pillars of community development and livelihood, and in its absence, no society can progress. It is an identity where common values, attitudes, preferences, knowledge is blamed for the behaviour of a particular social group and have a positive impact on social development in a specific country.

Cultural events are fun, entertaining and educational. Due to the proper cultural atmosphere, individuals can integrate physically and mentally. At many levels of society, it has been noticed that the dynamic cultural field needs a well-equipped organisation with arenas for critical debates and exchange of ideas. Identity expressed through culture is a necessity of all human development. It creates the basic building blocks that connect us to our personalities and our communities and nations.

In developed countries, more than 70 per cent of people believe that religion is not essential to them when it comes to their role. An interesting debate in the social sciences relates to the relationship between religion and economics, especially in the fields of economic development. The two sides are so different that they often come into contact with a stream of suspicion. Religion would expect one to move away from this world by associating it with a supreme-experience and spiritual concern, and by immersing oneself in the process of development, it leads to its growth. If that happens, many Asian and African countries will not face extreme poverty, corruption, nepotism and social barriers. Religion has become part of this practice in many developing countries. Poor people mostly misinterpret religion, and some people take advantage of this process.

Geographically, most poor or developing countries are located in the tropical region. Poor or tropical countries face severe challenges in agriculture due to climate change, high levels of salinity and rapid urbanisation and industrialisation.On 16 May 2020, cyclone Amphan formed over the Indian Ocean and began to move over the Bay of Bengal to the northeastern Indian coastal region and the south of Bangladesh. This is a common issue that the country faces every year, mainly during the monsoon season. More or less, 149,000 hectares of agricultural land and the fishing sector has been destroyed, costing BDT 3.25 billion, which is equivalent to approximately (USD-36 million). Trees are expensive and lost in farm areas. 150 km of protection dams have been washed away in 13 districts of Bangladesh. More than 200 bridges and culverts, including at least 100 kilometres of roads, were completely damaged.

So it can be said that a country like Bangladesh is facing a great challenge due to natural calamities. Nevertheless, developed countries also face catastrophic challenges due to natural disasters. Yet, it is challenging for developing countries to face losses every year, which hinders significant development for the nation and livelihoods because they lack natural resources and insufficient resources to tackle their real problems.

Finally, despite some real challenges, developing countries like Bangladesh have not been able to formulate appropriate strategic policies for future sustainable development. Most importantly, culture is an influential element for both the organisation and society.
Therefore, every stakeholder of the state must ensure an ethical and democratic culture is being adopted in their daily and corporate life, which is very crucial for the overall development of Bangladesh.

The writer is an Australian Academic

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