What Makes a Country's Economy Stronger then Any Other?

[Ask99]

Re: What Makes a Country’s Economy Stronger then Any Other?

@teggy

Isn’t it a ‘bit later’ already

We wanna know who passed. :halo:

I apologize for the a little bit turning into …well when:)

@Sa1eem

Well, a country needs many things to have strong economy. That includes education, natural resources, hard working population, value for merit (no nepotism), peaceful and secure environment, tolerance and justice in society, blah blah blah … but most important is:

Good governance, full of visions and free from corruption.

You really summed it about right:)

@teggy

A few factors in my opinion contribute to a crisp economy

1. Import:Export ratio

2. Working people (A family of 7, out of which 5 work) not the other way around

3. Less spending/acquiring of loans, and more investments (Coal, Natural Gas, Education)

4. Mass production of basic goods

5. Cater to other countries needs; make them depend on your production (China to the world)

6. Implemented policies that scrutinize every decision taken at a Provincial and National level.

7. Expansion of roadways, thus providing nonstop access within the country. (A trucker can get from Karachi-Peshawar 4X quicker than before, hence more flow of goods from one end to to another, which will directly lead to a close on demand-supply, leaving more to be exported).

8. Invest in industry; Grow your own, process your own, use whatever’s need, and then sell the surplus. It will reduce the dependency of for example, Computer, Auto parts, etc…to be shipped, in some instances on a short notice, that take a chunk out of the country’s already slim revenue. If it were produced locally, it would not only benefit the locals by providing jobs, but give the consumer opportunity to purchase at a lower price, while exporting to others at a slightly higher rate and profitting from it.

You really have some Keen points there Teggy. I really agree with the infrastructure of transportation is really important.
As the answers I posted, with the rule of law and political stability more and more investment is brought in for the future as people and companies believe that they can invest there. I just wish Pakistan’s economy would get better by achieving the two key components that are missing.Ameen