Post
Topic
Board Economics
Re: The increase of dollar affecting underdeveloped countries economy
by
Jawhead999
on 01/03/2024, 13:48:10 UTC
What you said is true but I still blame this underdeveloped countries for such economic downtime, mainly this happens in African countries where the presidents and his appointees see public offices as a personal business that anything can be done without further questioning from the citizens, I strongly believe that many underdeveloped countries government knows what to do so that anytime dollar appreciates in the financial market they won't be affected, many countries lack production mindset and good policies, when there is production of both edible and other goods you will see that such currency will never be affected by the rise of dollar, stringent policies should be on ground in different parastatals, locally made made good should be encourage every purchase in the country should be done with the local currency, both payment in the hotels or worker in all level, import duties, with this policy such countries can stand without the wave of any currency.
Underdeveloped countries are full of corruption and nepotism, so the countries have no chance to changes. There are many great people in underdeveloped countries, but if those people doesn't have any relation of benefit for the civil servants, they won't support you or they will try to make you not able to show your potential because they're worried if you can take their sits.