During our discussion class in Economic policy of development course, we tried to critisize characteristics of those countries which are stated as “poor” country.
When I think about a poor country, I realise them as China, India, Somalia, Ethiopia and so on.. In these kind of countries they have common characteristics like followings.
1. They are kind of colony who controlled by Europe or America
2. Labor intensive production is dominant
3. Agriculture, breeding, construction are common jobs that citizens interested with
4. Educational level is really low because of children obligated working environment
5. Low minimum wages & weak currency
6. Low gross domestic product
7. High rate of unemployment
8. High inflation
9. They may have petrol reserves ! (It’s really funny that having a petrol reserves and being poor.. But as you can guess that big brother never stops controlling these kind of mines like an “angel”)