In Recent Years Some Countries Have Experienced Very Rapid Economic Development

In recent years some countries have experienced very rapid economic development. This has resulted in much higher standards of living in urban areas but not in the countryside. This situation may bring some problems for the country as a whole. What are these problems? How might they be reduced?

Economic development is referred to the situation when the trade and commerce of the country rises, and there is credit growth, better infrastructure facilities, advanced healthcare and education facilities, efficient transport facilities in a country, higher birth rate than a death rate.

However, for instance, the states of Northeast India and North India are not as developed as the cities like Mumbai, Delhi or Bangalore. Despite having a pleasant and healthy living atmosphere, these states do not have good infrastructure in terms of roads, faster modes of transport, recreational facilities, healthcare, constant power and water supply etc. Due to these and various other problems, the government, private business players, and international investors are not attracted and motivated to set up their production plants or additional branches in these states, leading to low income and poor standard of living among the habitants, higher unemployment rate, mental and health abuse.

To bring these states at par with the other metropolitan cities, there must be training workshops conducted by the central and/or the state government, wherein the residents are updated with the latest technologies and methods. They should be given equal job opportunities and other rights. The government must provide encouraging subsidies to families to limit the number of children to avoid overpopulation. There can also be talent exchange programs wherein the workers of the company interchange locations to encourage sharing of knowledge, ideas and perspectives.

By adopting such measures, a country can compete with its peers more efficiently than ever. Such a developed economy attracts overseas investments leading to the overall betterment of the country.

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