INFLATION IN THE UNDERDEVELOPED COUNTRIES

[leftgirly]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

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[jrrsparkles]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

[Kakmakr]

The issue is a lot more complex than most people might think. The first world countries perfected the art to pull the wool over third world countries heads, because they arrange trade agreements to favor them and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

Some governments make bad political decisions and then 1st world countries would boycott them and this will hamper economic growth. The 3rd world countries are then forced to loan money to fund large infrastructure and development projects and the debt spiral will start pulling them down and they will start printing more money that would devalue their local currency. 

[fillippone]

Agree 100% with the above.
Ultimately the problem is always the same.
Easy, fiat money, create incentives for debt, who ultimately create distortion in allocation choices. While first world countries  put some effort in resisting those distortions (may be creating even bigger distortions, like QE's), 3rd world countries seldom go the shortest and more direct way of money printing and hyperinflation to get rid of such debt, at cost of their own economies. The accountability of their leaders being the main culprit.
Once again, hard money (BTC) can fix that.

[1Referee]

for example some Asian countries sell some regions rich in natural resources to developed countries, yeah they get big money from it, but their natural resources are exploited until they run out, their gold, their mines are dredged by these countries. selling natural resources is not a way out to make economy better.

Big money in relation to what they have, but it's a joke compared to what they would be able to get out of it if they could do everything themselves. No well developed country pays big money for a piece of ground when it isn't at least worth hundreds or even thousands of times more than what they put in.

These countries need to invest in themselves more so that they don't sell themselves for cheap to developed countries. I however doubt that they even realize it because this has been happening for decades. It's nothing new. Not sure where all that money goes, but it certainly doesn't seem to be going there where it's needed the most.

[el kaka22]

Those bad economies in small countries that have high inflation is not doing that because they would like to try their hand at being starving to death.

Those countries are forced for that because big countries take advantage of those places like a slave, they pay peanut money for their products and labor and all that and if you stop doing it because of price then they will go to another one, there are only a few huge nations whereas there are over hundred small tiny nations that could be exploited. Venezuela was loved by USA until they started to meddle with Oil prices and actually use it as a threat, you can't threaten USA with oil, those dudes literally went to war across the globe just to get some more oil from Iraq for Christ sake.

As long as big economies keep crushing small ones the inflation there will continue to go up.

[Ryker1]

Well, that's true. There is an inflation of the economy in undeveloped countries. In Asia, there's a lot of countries including the Philippines. If only the government will focus on the natural resources in this country maybe the economy will rise up. Indeed, it happens to all countries not only to those undeveloped countries I think. The fact there are small countries that can't stand alone and need help to those fully developed countries. Just like the country of the US, there are a lot of countries in Asia who rely on them.

[TIDOVEE]

i believe things will get better for the under developed countries if they add value to their natural resources for their personal benefit without selling to other country simply because, most of the foreign exchange services offered by many countries has no value adding to most citizens, and in the same vein, the underdeveloped countries need the developed nations to get developed too.

[sana54210]

I would not say that the in=inflation rate in all these under developed countries is as a result of them selling to countries with good economy, look at china, china has a very good economy and they are far developed, most of their produced are not only sold to countries with good economy, but also sold to countries that are under developed.

One thing that has jet china out of inflation is the level of their corruption that is low, china has been able to curtail corruption that every agencies knows the right thing to do, but these under developed countries, when they get the chance to sell their resources, they end up squandering the moment rather than them using it for something that will be of benefit to their country and things that would make inflation be controlled.

[adzino]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

The whole text sounds really hilarious. Do you really have any clue about how a country's economy actually work? You are saying the world economy is crashing due to inflation? As far as I am aware, only few countries are suffering from extreme inflation that is causing their economic growth to struggle down. How and what is your reason of partly blaming underdeveloped countries for high inflation?
So you are saying, without exporting anything a country can develop and get rid of inflation? -> LOL.

[Upgrade00]

...and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

A clear case of this, would be my nation Nigeria. Nigeria is one of the highest producers of crude oil in the world, and yet do not have the resources to refine the amount needed for the nation and definitely can not independently export to other nations, despite having discovered petroleum over half a century ago.

Developing countries would need to begin to act independently inorder to boost their economiiand livelihoods of it's citizenry.

[CryptopreneurBrainboss]

Those bad economies in small countries that have high inflation is not doing that because they would like to try their hand at being starving to death.

Those countries are forced for that because big countries take advantage of those places like a slave, they pay peanut money for their products and labor and all that.

I applaud you for this reply of yours, would had merited if i had spare smerits. This is exactly the situation those poor economy nation find themselves in especially those from Africa. Posted a thread once on the forum titled; Africa isn't poor - Africa is being raped, there you see numerous resources the countries in Africa have yet they can't utilize those resources to the fullest of potential to elevate the economy of the nation. You can't tell me an oil producing nation is still struggling to provide a conducive economy for her citizens yet this oil are been drained out of the country on a daily basis from the soil and distributed round the whole.

Sure, I won't disagree if you tell me Africans are raping themselves too, that's to say we're stealing from ourselves. I won't doubt that but with the amount of wealth the soil is producing, the Africans stealing the wealth must had support from the Westerners (Ameriacns), Asians, Europeans etc before this level of stealing can be successful yet they call us poor when they're the ones stealing or providing shelter to those stealing to invest in their country. The inflation rate to the dollar is on the decline yearly, and all this are just master plan strategy to keep those country under their influence (control). They claim to be rendering humanitarian assistance with their left hand yet they take away wealth of the nation with their right hand.

[romero121]

That is wrong if we blame the under developed countries for the inflation that is found around the world. Purely the first world countries were the reason for the prevailing market condition. Inflation within the under developed countries can't be rectified within a short. It takes years, because we can see most of the third world countries go poorer just because their resources were evaded by the first world countries.

The economy of a country is its resource, when this is taken advantage by someone else then what the respective country gets is nothing. Here first world countries should not take the revenue, for which they should help with funding and support the citizens of that particular country to benefit. This will not happen, and until then first world countries doesn't have the right to state the global inflation is caused due to the under developed and third world countries.

[Kakmakr]

...and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

A clear case of this, would be my nation Nigeria. Nigeria is one of the highest producers of crude oil in the world, and yet do not have the resources to refine the amount needed for the nation and definitely can not independently export to other nations, despite having discovered petroleum over half a century ago.

Developing countries would need to begin to act independently inorder to boost their economiiand livelihoods of it's citizenry.

Well, that is just part of your problem. Not to disrespect you, but I did some contract work for your country a few years ago and our company had to pay several bribes to get things done there. You will know that certain things will never get done, if you do not pay these bribes to the corrupt individuals. <Note : I am saying individuals, because not everyone are corrupt there>

This is also not something that are unique to Nigeria, because even 1st world countries have corrupt government officials and private companies paying these bribes.     It is also these corrupt individuals that are causing the problems in their own economy. <Making it too difficult for companies to operate there and printing too much fiat currencies.>

[Vishnu.Reang]

Underdeveloped countries continue to print banknotes without any limit, to cover the increasing government expenses. So it is not very surprising that the inflation is very high. Even in my country, the inflation rate had touched 14% mark in 2014, when the UPA was in power (they were very corrupt). Now the inflation is down to around 3%, as no corruption scandals have been reported from the ruling coalition.

[MonsterV]

I think it could have been if government of that country was smart enough to spin economy without relying on other countries. One of them is in technology, technology provides hope that can restore a country's economy, but country must make an extraordinary innovation like what has been done by other developed countries such as US, Japan, China, etc.

From these technological innovations they are able to boost level of country's economy, without having to sell natural resources to other countries.

I would not say that the in=inflation rate in all these under developed countries is as a result of them selling to countries with good economy, look at china, china has a very good economy and they are far developed, most of their produced are not only sold to countries with good economy, but also sold to countries that are under developed.

One thing that has jet china out of inflation is the level of their corruption that is low, china has been able to curtail corruption that every agencies knows the right thing to do, but these under developed countries, when they get the chance to sell their resources, they end up squandering the moment rather than them using it for something that will be of benefit to their country and things that would make inflation be controlled.

Yeah right, corruption is indeed a major problem for every country, corruption hinders economic development that was previously well planned. China is one of developed countries, so naturally their country's corruption level is low, most of the biggest corruption is in developing countries. Developing countries still have many imperfect government systems, so this is exploited by irresponsible individuals who end up harming their own country.

[sunsilk]

How could you just blame those underdeveloped countries for having high inflation? no country can avoid inflation and everyone is bound to experience it. As long as you know the current stand of their gov't and how their officials run the gov't, well I guess you can blame them for their economy.

But notice also those underdeveloped countries that are trying to push themselves upwards by making alliances and partnerships. Those hardworking leaders knows what they do but if there's something that stops them to thrive their economy, it must be inside their gov't.

[carter34]

Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It will amount to nothing because everybody needs somebody, help to survive or grow just like kids get to adult and adults needs support in their old age. Therefore, countries need each other to get what they don't have.

Even what value they need to add to their resources might need to be sort, like technology and they need it somewhere 

[The Sceptical Chymist]

<snip>

Well said, all of it.

Now I'm no economist, but I didn't think inflation was that high--at least not in my country, though I don't live in a 3rd world one (and that's not tooting my own horn; we have problems aplenty here).  I know some countries like Venezuela and Zimbabwe are having a very hard time with inflation, but is it really a 3rd-worldwide problem right now?  For a thread like this, some links and data would be very useful instead of vague statements.

I think the economic problems of 3rd world countries is and always has been a problem of politics.  You can't say those countries are lacking in natural resources, and you'd think that they'd be more prosperous than they are--but the riches always seem to flow to those in power, leaving the citizens dirt poor.  And that's with or without high inflation. 

Those hardworking leaders knows what they do but if there's something that stops them to thrive their economy, it must be inside their gov't.

Yeah, and that something is greed and a complete indifference to the welfare of the citizens.

[TheCoinGrabber]

Services is definitely one thing that can be easily developed without the government spending much on infrastructure. They can just renovate existing infrastructure and maybe increase power supply. Much of the outsourcing business in India and Philippines received no government subsidy, it's all private. The company either build their own offices or rent existing ones.

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Selling natural resources will only worsen the country's economy in the long run, they will only benefit momentarily without seeing the long-term effects that will occur. for example some Asian countries sell some regions rich in natural resources to developed countries, yeah they get big money from it, but their natural resources are exploited until they run out, their gold, their mines are dredged by these countries. selling natural resources is not a way out to make economy better.

Feels weird seeing this comment after watching a video about Nauru. Classic example of selling of resources and not preparing for when it runs out.

My opinion is that developing countries should develop their own manufacturing sector to add value to the product. You can charge more for a finished product than raw material and you get to keep all the profit rather than your raw material getting haggled.

[fiulpro]

It's not like the underdeveloped countries are to be blamed for their bad times ..to be honest the developing countries are actually to be blamed ...at some point of the other they use those underdeveloped countries for their resources , you know in Ukraine the government illegally pays money to the Ukrainian government to store their acid and waste that is harmful and in also periodically they cut off huge trees and wipe up the whole forest and they are supplied to Europe ... and guess what. ? No one will ever know about this because the news won't publish this .. the local knows ...the government knows and rest is corruption.

[mersal]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Inflation increases due to their government printing more and more money but its happening due to they are depending more on the other countries so they need to use other currencies like dollar to import things than in their local fiat.First underdeveloped country need to increase their export which make them less dependent or equally.

[pishite]

Inflation is not only due to the sale of minerals, but because the country that sold its resources does not see this money because it settles in the pockets of officials who do not want to develop business in their countries by building new enterprises and giving their people new work.

[el kaka22]

Inflation is not only due to the sale of minerals, but because the country that sold its resources does not see this money because it settles in the pockets of officials who do not want to develop business in their countries by building new enterprises and giving their people new work.

It is just known that there are enough resources for everyone in the world. Don't get me wrong I am not going to go full communist on you and tell you that everyone should own a lambo of their own, this is not like that. However, if people are starving to death then saying maybe we have enough resources not to let that happen is not communism.

People should learn the difference between helping people out and communism, if you are helping people not starve to death, you can still be capitalist, it is literally just food so they can live some more instead of die, otherwise keep making your Tesla cars and sell them months ahead of schedule in pre-order or keep making your workers work 16 hours a day in a warehouse without extra pay for extra profits of your amazon share holders, those capitalist horrible stuff could still go on (hopefully they shouldn't) but at least make sure people are not hungry.

It comes to nation to nation helps, if a country is too poor to stay alive like Venezuela and Yemen has been going through and people are literally losing weight because they can't find anything to eat, then other nations should send all their extra foods to there.

[iv4n]

Inflation is not only due to the sale of minerals, but because the country that sold its resources does not see this money because it settles in the pockets of officials who do not want to develop business in their countries by building new enterprises and giving their people new work.

It is just known that there are enough resources for everyone in the world. Don't get me wrong I am not going to go full communist on you and tell you that everyone should own a lambo of their own, this is not like that. However, if people are starving to death then saying maybe we have enough resources not to let that happen is not communism.

People should learn the difference between helping people out and communism, if you are helping people not starve to death, you can still be capitalist, it is literally just food so they can live some more instead of die, otherwise keep making your Tesla cars and sell them months ahead of schedule in pre-order or keep making your workers work 16 hours a day in a warehouse without extra pay for extra profits of your amazon share holders, those capitalist horrible stuff could still go on (hopefully they shouldn't) but at least make sure people are not hungry.

It comes to nation to nation helps, if a country is too poor to stay alive like Venezuela and Yemen has been going through and people are literally losing weight because they can't find anything to eat, then other nations should send all their extra foods to there.

What you mean by "other nations"? Why not USA help Venezuela? Why they don`t help Yemen? It`s a war out there, and that war is not fair. Big countries are bullying small countries, with bribery and corruption they come and take over for valuable resources, minerals, oil, precious metals, or just because strategical position.
Nike, Nestle, H&M, Philip Morris and many others still use child labor, to not mention that this big companies from big countries are paying minimal to people who works for them in this underdeveloped countries. Therefore we can assume that underdeveloped countries will never be free from big countries, when ever people decide to fight against it, big countries come with big, well armed armies.

[audaciousbeing]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Its unfortunate that the underdeveloped countries have been plagued by leaders who are just there because of their own pockets and not anything to do with the masses talk-less of the country. They so much love themselves that they are more concerned with ensuring their family wealth for the coming generation is well secured through any means necessary even at the expense of the people they swore to protect and defend. Its so bad that the leaders of these countries would prefer to patronize the goods and services of the developed economies at the expense of local industries while the companies that manage to set up despite the stiff economic conditions are made to pay via all forms of taxes to finance their luxurious lifestyle either directly or indirectly.

Unfortunately, its not a problem that there is end in sight at the moment as the problem is a fundamental one. Countries have equally learned to managed their inflation effect and the advance countries that have been responsible to a large extent are ready with aids and subventions in other to cushion the effect of such mis-management of the common wealth.

[Harlot]

You can't particularly blame the countries itself but the ones running it for putting their own country to the ground. One of the recent events is the countries who have fallen to the Chinese debt trap that led to China controlling the asset of their own country from their unpaid loans. This wouldn't really happen if this countries are smart enough not to accept the terms of China. Other mistakes underdeveloped countries are doing is overprinting their own fiat currency further devaluing it in its process. If only the government is smart enough they will know printing more money isn't really the solution to anything .

[silversurfer1958]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

I suppose you are having confusion about the economy. For developing countries, they need to work with larger countries to make the export and import process easier and have a better price.
New trade makes a country richer, you should rethink your opinion.

[dengpei]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

What's killing developing countries is corruption, cronyism and toxic debt. In Africa, countries like Zambia have been heavily saddled with toxic Chinese debts that they cannot repay and as a result, their natural resources are at stake because they have been used as collateral to secure those loans!

[bryant.coleman]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

If you look at the "underdeveloped" countries all around the world, you will notice a very similar pattern. In almost all of these countries, the taxpayer base is very small and a small number of taxpayers are burdened with subsidizing the majority of the population that lives on welfare payments and benefits. And what happens once the government can't collect enough taxes? They will just print money without any control. And this is what causes uncontrolled inflation in these countries.

A prime example to this is the second most populous country in the world - India. I was told that only around 3% of the population (around 40 million individuals) pay income tax there. Effectively, this 3% is subsidizing the remaining 97%. I am not saying that the situation is this bad in the other developing nations. But the pattern is similar.

[LUCKMCFLY]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

The problem of underdeveloped countries with economies in crisis is due to bad management by their rulers, they have applied erroneous policies where it affects the internal financial system. In view of this, Bitcoin technology offers a deflationary economy, which solves the particular economies of what they use.

Some renewable and non-renewable resources are not enough to get these countries out of inflation crises, because their policies do not offer improvements for their workers and workers, they would only exploit more they would not fix.

[el kaka22]

What you mean by "other nations"? Why not USA help Venezuela? Why they don`t help Yemen? It`s a war out there, and that war is not fair. Big countries are bullying small countries, with bribery and corruption they come and take over for valuable resources, minerals, oil, precious metals, or just because strategical position.
Nike, Nestle, H&M, Philip Morris and many others still use child labor, to not mention that this big companies from big countries are paying minimal to people who works for them in this underdeveloped countries. Therefore we can assume that underdeveloped countries will never be free from big countries, when ever people decide to fight against it, big countries come with big, well armed armies.

I have said the exact same thing. Capitalist corporations could continue to do whatever they want, as long as its just making people poor there is a moral and ethical question there but there is no humanitarian question there.

At the same time, if a country is dying of starvation like Venezuela then all nations can get together and help, just to give an example 1 billion dollars to help Venezuela is not a big amount for USA, nor for UK nor for France or German, these countries can get together and spend 5 billion dollars all on food and bring it to Venezuela, not just in crates and all but also in shape of resources and seeds so the country can get back on its feet without other nations help after a while. All in all we just need nations to help each other out.

[wxa7115]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This is a lot more complex than that, developed countries used to be fiscally responsible but that is not the case anymore, some of the most indebted countries in the world are developed countries and this is creating huge problems for the world economy, in my opinion governments around the world have cornered themselves, there is no way out of this problem except with a massive crisis, the crisis is probably going to be so bad that governments are going to try to back their currencies with something like gold or silver.

But at that time most of the population will lose confidence in their currencies and it is likely that they will begin to trade directly with gold and if we are lucky they will begin to use also cryptocurrencies like bitcoin and will avoid any government printed currency as much as they can.

[yulchatar]

The issue is a lot more complex than most people might think. The first world countries perfected the art to pull the wool over third world countries heads, because they arrange trade agreements to favor them and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

Some governments make bad political decisions and then 1st world countries would boycott them and this will hamper economic growth. The 3rd world countries are then forced to loan money to fund large infrastructure and development projects and the debt spiral will start pulling them down and they will start printing more money that would devalue their local currency. 

This is the most clear and precise description of the situation that has developed in my country. Land, which is rich in an incredible amount of minerals, sold to foreign buyers and investors piece by piece. Everything that is mined is sold to abroad, and then the finished product goes to the local market at considerable prices. And it is clear that such cooperation doesn't make the country richer.

[shield132]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Problem in most of these countries is that they can't produce mostly anything and are importing things, for this reason they hugely depend on national currency / usd exchange ratio. So when they buy things from outside, more usd goes from their country, so national currency gets weak, because of weak national currency people try to stick with usd which makes it even weaker. So as a result we get increased prices on everything while work salary gets decreased or the same. In overall this causes huge economic fall.

[Gozie51]

The issue is a lot more complex than most people might think. The first world countries perfected the art to pull the wool over third world countries heads, because they arrange trade agreements to favor them and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

Some governments make bad political decisions and then 1st world countries would boycott them and this will hamper economic growth. The 3rd world countries are then forced to loan money to fund large infrastructure and development projects and the debt spiral will start pulling them down and they will start printing more money that would devalue their local currency. 

This is the most clear and precise description of the situation that has developed in my country. Land, which is rich in an incredible amount of minerals, sold to foreign buyers and investors piece by piece. Everything that is mined is sold to abroad, and then the finished product goes to the local market at considerable prices. And it is clear that such cooperation doesn't make the country richer.

This is saying simply that countries that can't manufacture things, products are those that are in such predicament. The third world countries are majorly found in this level of economic quagmire.

[bitmover]

Some governments make bad political decisions and then 1st world countries would boycott them and this will hamper economic growth. The 3rd world countries are then forced to loan money to fund large infrastructure and development projects and the debt spiral will start pulling them down and they will start printing more money that would devalue their local currency. 

If that were true, 3rd world countries would be in a better situation. Unfortunately, the situation is much more related to public debt and irresponsible politicians, like Greece experienced.


In Brazil, for example, take a look at this article published in a domestic economic magazine. I will translate the last paragraph using google translator

Oil mega-auction is held for November 6, says ANP director general


Under the bill approved by the Senate, which needs to go through the House, $ 33 billion will be discounted to cover a federal government debt with Petrobras; R $ 10.95 billion (15%) will be passed on to states, following the criteria of the State Participation Fund (FPE); another R $ 10.95 billion (15%) will be distributed to the municipalities, according to the criteria of the Municipal Participation Fund (FPM); R $ 2.19 billion (3%) goes to Rio de Janeiro; and R $ 48.9 billion will be with the Union.

According to the proposal approved by the Senate, the governors and mayors will be obligated to allocate all the values in investments and contributions in pension funds.
https://www.infomoney.com.br/mercados/megaleilao-de-petroleo-esta-mantido-para-6-de-novembro-diz-diretor-geral-da-anp/

What does this means? That we are now going to make a big auction of our giant oil fields and use that money to build a new infrastructure? No. Education? No. Technology? No. We are going to spend all that money to pay pension funds, i.e., current expenses and personnel expenses.

This is not an investment. This country is never moving foward, and it is not 1st world countries faults. This is not capitalism or greedy companies fault. Who can we blame? Irresponsible government that spent and promised to spend more money than it actually have. Solution? Sell our property to pay current expenses.

[Hydrogen]

This topic invokes something known as imperialism.

The hierarchy of nations is defined within social order resembling a caste system. Wealthy and powerful nations retain their status through adopting measures to ensure poor(er) nations are unable to elevate their own standards and become competitive. This is reflected by leaders of underdeveloped countries receiving financing and support from foreign powers in exchange for guarantees to keep the population repressed.

As mentioned, the end goal of imperialism is to limit competition between wealthy and poor nations, to guarantee the wealthy retain their status as king of the mountain. It enforces the status quo of the wealthy remaining rich, and those living in poverty remaining poor. This is one reason why many brutal and repressive dictators are found to receive billions in support from foreign sources. It is cheaper for wealthier nations to fund a dictator who is guaranteed to regress educational and economic standards so their country can never compete on a global scale. Cheaper than it would be to compete directly with said nation if they made a legitimate effort to strengthen their economy and elevate standard of living.

The second issue relates to design flaws in how governments are structured. Governments are structured as the largest and most powerful monopolies in the world. Any negative criticism that can be said about US big tech or amazon being a monopoly would apply far more to governments as they lack competition and are not incentivized to produce intelligent nor efficient solutions to problems.

Being a monopoly implies if state issued fiat currency hyperinflates, there are no alternative options. If governments implement poor economic policy or poor regulatory standards, there are no alternative options. The centralized design of state authority is flawed from inception due to it being monopolistic in origin and implementation.

One way to improve conditions relating to inflation would be for governments to issue more than one fiat currency to create a competitive environment. That way if one state issued fiat is poorly managed and devalues, there are other superior options for consumers to fall back on. Governments and leaders need a competitive environment to produce their highest quality work and demonstrate why they deserve to make decisions that affect the lives of millions.

Breaking up state monopolies and forcing them to compete on some level has potential to produce a superior state format in contrast with the way things are now.

[davis196]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Most of the underdeveloped countries have populist governments,that spend a lot more money than they can gather from taxation.This creates more debt and weakens their national currencies even more.
Another problem is the "poverty trap".There are too many young people and not enough money for education,so most of the young people grow up uneducated and therefore poor.
I don't believe that anything positive can happen in the underdeveloped countries.

[deisik]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

If you ask me, that would completely bring down their economies (and very fast at that)

These countries have to export their natural resources "as is" because there is not much else they can do (or sell) as they lack the required technologies as well as expertise "to add value to their natural resources themselves". Remember, they are underdeveloped, which basically means natural resources are their only available means of keeping up their level of welfare

If they didn't export natural resources as you suggest, they wouldn't receive the financial means (read, dollars) to buy thousands of other things which they don't produce themselves since they are underdeveloped (but I repeat myself). Then they would quickly turn into a North Korea of sorts. In simple terms, selling whatever they have is their only option (other than developing their economy the "hard way"). It is just how things stand in the world

[yoseph]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It's high time that third world countries realise that it is industrialization and not natural resources alone that is going to make them leap from being a third world country to maybe an economic super power, They are over reliant on their natural resources and all they tend to do is to export them, if they are able to build factories that could transform their raw materials to finished products like developed countries do, they will end up being getting 10x the profits they make from exporting just the raw materials alone.

[deisik]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It's high time that third world countries realise that it is industrialization and not natural resources alone that is going to make them leap from being a third world country to maybe an economic super power, They are over reliant on their natural resources and all they tend to do is to export them, if they are able to build factories that could transform their raw materials to finished products like developed countries do, they will end up being getting 10x the profits they make from exporting just the raw materials alone

If only things were that simple

The problem is that countries which are already industrialized have a competitive advantage while the third world countries can't just proceed from exporting raw materials and natural resources to manufacturing finished products and retail-ready goods because they simply would not be able to stand the competition with the developed countries. So, instead of getting 10x the profits from exporting natural resources, they would only incur losses by producing subpar goods that will fail to market

To do what you suggest requires a lot more than just building factories as it also requires highly qualified labor force, technologies, capital, etc, as well as support from the big guns like the US opening their markets (see Japan as one such example) and it takes literally decades to go in that direction till finally getting there (or just somewhere)

[Shenzou]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

The main reason why most of these countries suffer from inflation is due to bad economical strategies set by the governments, if we take for example Venezuela which represents one of most countries that suffers from inflation due to its economy heavily  relaying on oil back in the 90s so when the prices went down so it did and they had to get in debt and because of that all their earning had to go directly to paying them, there was no liquidity in the market so they just kept on pumping and printing more and more of the currency until it is worth noting compared to a dollar,  there are many ways to fight inflation but most of them revolve around reducing the currency supply directly and indirectly, and adding value to natural resources without selling to other countries is only gonna make things worse, because one thing leads to another and it will cause more inflation.

[ShooterXD]

Brazil is going to hell.

We have a crazy president, the inflation is big and rising. Our economy minister is a dumb shit and the things will get worse.

The brazilian real is going down day by day and, a lot of people without job.

This shit govern want to give our things to USA. FUCK THE SYSTEM

And now, the governament want set tax to deposits and withdraws

[beerlover]

I know Brazil looks like the only country like that but I can count at least 10 countries who are having the same problems. Yes Brazil was never a big huge economical country so going even worse meant a lot worse things but look at USA, even they are not doing that well and in a world where USA is not doing well because of idiots at power, it is not a wonder that third world countries like Brazil and all others not doing well neither.

I would personally wait it out, I know it is really difficult to manage financially right now but as a person who has seen multiple economical crisis all around the world thanks to my age, I can tell you that after the crisis is always the best time to make money, you have to just not make any debts during the crisis itself.

[abhiseshakana]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

An underdeveloped country is a country gripped by poverty with low income per capita. This is reflected in the very low standard of living of its people. About 75% of income is spent on food. Usually, poor countries are ex-colonies and they inherit the economic and political system from colonial countries. Their poverty and backwardness were caused by economic and political exploitation by the invaders. The colonizers dredged the natural resources of the colonies and sold them on foreign markets at high prices and allowed the colonies to remain poor.

Poor countries find it difficult to break the bondage of colonial heritage. After decades, even though developed countries did not do physical colonization, but they continued to carry out economic colonization by imposing free trade ideology on poor countries even though they knew poor countries were not ready for it. Developed countries through the IMF and World Bank under the guise of assistance control and even control loans and infrastructure projects for poor countries. Globalization has caused wider economic imbalances between developed and developing countries. To put it simply like this, you are born with the condition of your parents being poor and leaving a debt with daily interest. To buy food is difficult. So it is impossible to escape from the snares of poverty.

Inflation in poor countries occurs due to declining food production and ongoing war. Processing raw materials into finished goods or semi-finished goods, of course, requires adequate facilities and infrastructure. To support production, of course, requires a very large cost and competent experts, and even then they depend on developed countries.

To overcome inflation in a poor country, in my opinion, stability, and supply of basic needs must be fulfilled. although conventional food self-sufficiency must be planned to tackle various serious problems in poor countries.

[ShooterXD]

I know Brazil looks like the only country like that but I can count at least 10 countries who are having the same problems. Yes Brazil was never a big huge economical country so going even worse meant a lot worse things but look at USA, even they are not doing that well and in a world where USA is not doing well because of idiots at power, it is not a wonder that third world countries like Brazil and all others not doing well neither.

I would personally wait it out, I know it is really difficult to manage financially right now but as a person who has seen multiple economical crisis all around the world thanks to my age, I can tell you that after the crisis is always the best time to make money, you have to just not make any debts during the crisis itself.

LOL, Bolsonaro just enter in the war against China to get aproval from USA, now, China stoped importations of soy from Brazil, and will buy it from USA. Thats funny.

The problem is keep safe without any debt during the crisis. Its really hard, no job, supermaket prices rising like a bitch. Lets pray for our governaments. =D

[teosanru]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

The heart of the fact is that if you see the history " development" has been defined as a phase with respect to the contemporary technological and economical aspects. I mean to say there was a time in 1300s when Indian subcontinent was too flourished and was conisdered a developed economy but now it's called Developing. While the west was nowhere in the picture at that time now the centre of development. In 1600s China was greatest economy of the world under the Qing Dynasty. My point is that every good economy was bad in the past while many good economies have blown themselves up. You cannot blame the underdeveloped countries for high inflation. Moreover many a times countries with great natural resources have failed as a great Economy example being Venenzuela.

Also the bitter truth is that economy crashes root themselves from Major Economies only. The 2008 Housing debt bubble was created by America itself. So basically no small countries can effect the world Economy that easily. It's the giant nations which are the cause.

[wxa7115]

Brazil is going to hell.

We have a crazy president, the inflation is big and rising. Our economy minister is a dumb shit and the things will get worse.

The brazilian real is going down day by day and, a lot of people without job.

This shit govern want to give our things to USA. FUCK THE SYSTEM

And now, the governament want set tax to deposits and withdraws

This is a huge warning sign, when a government begins to try to restrict the way people use their wealth you know there is something terribly wrong with the economy, that kind of tax is obviously an attempt to try to keep people away from the money that they have deposited in their bank accounts, I will not be surprised that during the next years you see the Brazilian government passing laws to limit the amount of money that you can withdraw from your bank account.

As if we did not have enough reasons to use bitcoin and other cryptocurrencies that is yet another reason to use them, banks think that they can do whatever they want with money that is not even theirs but fortunately for us we have an option that we did not have before in the form of bitcoin and no one can tell you what to do with it no matter what they do.

[zhekinsp]

I know Brazil looks like the only country like that but I can count at least 10 countries who are having the same problems. Yes Brazil was never a big huge economical country so going even worse meant a lot worse things but look at USA, even they are not doing that well and in a world where USA is not doing well because of idiots at power, it is not a wonder that third world countries like Brazil and all others not doing well neither.

I would personally wait it out, I know it is really difficult to manage financially right now but as a person who has seen multiple economical crisis all around the world thanks to my age, I can tell you that after the crisis is always the best time to make money, you have to just not make any debts during the crisis itself.

Inflation is the main problem of this paper money but economist claims that its good to have inflation in the least rate but in the modern days inflation keep increases every year and many developing countries facing huge economical crisis and soon it also will after the developed nations as well.What you said is right main cause of this problem is idiots at poor and theory poor financial management of total economical funds.

[micher143]

I know Brazil looks like the only country like that but I can count at least 10 countries who are having the same problems. Yes Brazil was never a big huge economical country so going even worse meant a lot worse things but look at USA, even they are not doing that well and in a world where USA is not doing well because of idiots at power, it is not a wonder that third world countries like Brazil and all others not doing well neither.

I would personally wait it out, I know it is really difficult to manage financially right now but as a person who has seen multiple economical crisis all around the world thanks to my age, I can tell you that after the crisis is always the best time to make money, you have to just not make any debts during the crisis itself.

Inflation is the main problem of this paper money but economist claims that its good to have inflation in the least rate but in the modern days inflation keep increases every year and many developing countries facing huge economical crisis and soon it also will after the developed nations as well.What you said is right main cause of this problem is idiots at poor and theory poor financial management of total economical funds.

When the government keeps on printing money for their own good, the money will just break down. Inflation is a serious problem in a lot of countries, poor leadership will result to breakdown of the community and economy. But I think it's not Government is to blame, even you are the smallets part of the community you can do something to get a better life.

[teosanru]

Brazil is going to hell.

We have a crazy president, the inflation is big and rising. Our economy minister is a dumb shit and the things will get worse.

The brazilian real is going down day by day and, a lot of people without job.

This shit govern want to give our things to USA. FUCK THE SYSTEM

And now, the governament want set tax to deposits and withdraws

This is a huge warning sign, when a government begins to try to restrict the way people use their wealth you know there is something terribly wrong with the economy, that kind of tax is obviously an attempt to try to keep people away from the money that they have deposited in their bank accounts, I will not be surprised that during the next years you see the Brazilian government passing laws to limit the amount of money that you can withdraw from your bank account.

As if we did not have enough reasons to use bitcoin and other cryptocurrencies that is yet another reason to use them, banks think that they can do whatever they want with money that is not even theirs but fortunately for us we have an option that we did not have before in the form of bitcoin and no one can tell you what to do with it no matter what they do.

Even in India there is tax on cash deposit and withdrawal in excess of certain amount. But What's happening in Brazil is more drastic. Now the thing is that it's just a Myth that coming on Cryptocurrencies will solve these problems because currently Cryptocurrencies are Highly volatile so when people try to keep their mainstream money into crypto prices could fall by a lot daily so what you could buy today with your money can get you much more tomorrow because it's a deflationary currency.

[1Referee]

banks think that they can do whatever they want with money that is not even theirs but fortunately for us we have an option that we did not have before in the form of bitcoin and no one can tell you what to do with it no matter what they do.

I'm truly glad for Bitcoin to be an option we can tap into, but we have to look at how it is impossible for people to have all their funds in Bitcoin so that we have total control over what we own. Volatility is a major concern right now and will be that in the forthcoming years as well. I wouldn't even put all my money in Bitcoin if it has Gold's 'stability'.

What we need is a decentralized unit of account that maintains its value no matter what. I like the DAI stablecoin because it aims to solve that problem. The only thing we can't solve is scalability, therefore have to accept that Bitcoin and other cryptos will likely never reach a state of total mass adoption. Perhaps that we can have some sort of a workaround through interoperability between various networks, but we haven't seen it be put to the test yet.

[STT]

If the stable coin is relying on Dollar for its stability then its not going to work out long term, stablecoin is fine to hedge short term and to avoid exit costs but its not really a solution to just hold.    People are already exposed to dollar or their own national currency, they dont need more of that especially if inflation is the worry.

they make sure that they extract as much raw resources as possible

The 3rd world countries should really invest in their own particular commodity and only commit to one or two years of agreed pricing when doing deals.   Its a mistake to make any commitment to debt rather then the raw commodity, the problem being the countries no doubt dislike the irregular prices many commodities suffer from.     Its the job of their own national economy to account for the variance in commodity worth and to benefit when price peaks and be strong enough to survive the drop in prices.   Venezuela is demonstration of the terrible fallout of relying on a high oil price but it applies to every commodity dominated economy, they have to build stability and savings not debt or promises from the west that are external to their economy and can become a liability
  The problem is its not a fair relationship, the world is dollar centered and its hard for countries to operate independently of that.  I dont believe its impossible just requires discipline, I know Russia, China maybe other countries are trying to build reserves in gold but gold has no yield so really investment in productive industry is required also.

[Hydrogen]

This topic invokes something known as imperialism.

The hierarchy of nations is defined within social order resembling a caste system. Wealthy and powerful nations retain their status through adopting measures to ensure poor(er) nations are unable to elevate their own standards and become competitive. This is reflected by leaders of underdeveloped countries receiving financing and support from foreign powers in exchange for guarantees to keep the population repressed.

As mentioned, the end goal of imperialism is to limit competition between wealthy and poor nations, to guarantee the wealthy retain their status as king of the mountain. It enforces the status quo of the wealthy remaining rich, and those living in poverty remaining poor. This is one reason why many brutal and repressive dictators are found to receive billions in support from foreign sources. It is cheaper for wealthier nations to fund a dictator who is guaranteed to regress educational and economic standards so their country can never compete on a global scale. Cheaper than it would be to compete directly with said nation if they made a legitimate effort to strengthen their economy and elevate standard of living.

The second issue relates to design flaws in how governments are structured. Governments are structured as the largest and most powerful monopolies in the world. Any negative criticism that can be said about US big tech or amazon being a monopoly would apply far more to governments as they lack competition and are not incentivized to produce intelligent nor efficient solutions to problems.

Being a monopoly implies if state issued fiat currency hyperinflates, there are no alternative options. If governments implement poor economic policy or poor regulatory standards, there are no alternative options. The centralized design of state authority is flawed from inception due to it being monopolistic in origin and implementation.

One way to improve conditions relating to inflation would be for governments to issue more than one fiat currency to create a competitive environment. That way if one state issued fiat is poorly managed and devalues, there are other superior options for consumers to fall back on. Governments and leaders need a competitive environment to produce their highest quality work and demonstrate why they deserve to make decisions that affect the lives of millions.

Breaking up state monopolies and forcing them to compete on some level has potential to produce a superior state format in contrast with the way things are now.

Someone give me feedback on the above plz.

[boltz]

Inflation happen all over the world currently not only in the underdeveloped countries and the best examples are the football players transfer as some years ago the most expensive transfer was 120 mil $ now a regular player cost like 100 mil $ this will lead to a new recession in the end, maybe even next year when we might see crazy low prices and people fired from jobs and so on.
Personally I take extra measures from now as the charts don't look good so speaking of underdeveloped countries, I don't see them in any good positions and instead I see new civil wars rising on Africa and also big money are moving to Asia from America. Speaking of Africa, I see they are desperate getting into bitcoin and trying to make legit projects and work hard like they never did before which is another strong sign that something shady is happening in underdeveloped countries. I would exclude Venezuela as there is a conflict zone first and then we can speak of the massive inflation that they are currently experience.

[Murat]

When you have got a badly intended people on the upper level of your country then it must be shown they way various type of hazard on your country, I think some underdeveloped countries always try to follow the decision from the developed countries by this reason they always remain the same position because of the capitalist policy. You know that the first world countries always try to extract the valuable thing from the poor counties and this is the way they wanna make a good relationship among these underdeveloped countries. so the situation will never change. this is the way we are going to face a huge crisis in the future.

[SummerBliss]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It is easy to say on paper but not possible to apply in practical. Underdeveloped countries like African and Asian countries are rich with natural resources and can do wonders if they get good value for their products. But they fall prey to the first-tier countries and their manipulative practices. First-tier countries especially European Union countries and USA have manipulated WTO to come to the arrangement where there is almost negligible import/export duty on raw materials but levy high duties on finished goods. So first-tier nations buy cheap raw materials from underdeveloped countries but sell them finished goods at inflated pricing. This leads to further depreciation in the value of fiat currencies of undervalued countries. Also they lack machineries and resources to consume natural resources in their own countries. 

[djsugar]

See, there could be many reason behind high inflation in developing countries.

One of them is huge trade deficit. Depreciating exchange rates can bring high inflation in a country. In this case, yes, the long term policies by the government where they can support people in developing such products themselves.

Second is the excessive credit. This can be controlled by tightening the monetary policy. Sometimes excessive credit is required in the economy to push the manufacture sector.

And the third is because of some natural disaster which corrects itself in mid run.

[Wexnident]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

A lot of underdeveloped countries have natural resources that could compare to those developed ones but they lack the technology or resources to develop them. Either that or their government would just rather quickly be rich by selling resources to developed countries and then pocket a huge amount of profit from there. The people can't really do anything about it since the government are the ones whom control almost all of the products that can be imported and exported and it's really sad to see that instead of trying to develop their own country, they develop their won pockets instead.

[deisik]

What we need is a decentralized unit of account that maintains its value no matter what. I like the DAI stablecoin because it aims to solve that problem. The only thing we can't solve is scalability, therefore have to accept that Bitcoin and other cryptos will likely never reach a state of total mass adoption. Perhaps that we can have some sort of a workaround through interoperability between various networks, but we haven't seen it be put to the test yet

Actually, there is a workaround to handle the volatility issue

As you can use Bitcoin as a store of value without compromising your wealth in dollar terms (read, you don't need stable coins for that). It is called hedging. In the simplest of cases, you open a short position on an exchange like Bitfinex which would be equal to your stash in the same coin (e.g. Bitcoin). And now you are no longer a hostage to volatility. No matter where the price goes, your wealth is intact

Indeed, you will have to provide some collateral (in case of Bitfinex something like 15% plus a little extra to make up for possible short squeezes) and so you become a hostage to an exchange. However, in the worst of cases you will lose less than a quarter of your stash. Further, with stablecoins you are still not safe as you depend entirely on the robustness of the system, and the DAI stablecoin you refer to is not 100% bulletproof either

[yoseph]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It's high time that third world countries realise that it is industrialization and not natural resources alone that is going to make them leap from being a third world country to maybe an economic super power, They are over reliant on their natural resources and all they tend to do is to export them, if they are able to build factories that could transform their raw materials to finished products like developed countries do, they will end up being getting 10x the profits they make from exporting just the raw materials alone

If only things were that simple

The problem is that countries which are already industrialized have a competitive advantage while the third world countries can't just proceed from exporting raw materials and natural resources to manufacturing finished products and retail-ready goods because they simply would not be able to stand the competition with the developed countries. So, instead of getting 10x the profits from exporting natural resources, they would only incur losses by producing subpar goods that will fail to market

To do what you suggest requires a lot more than just building factories as it also requires highly qualified labor force, technologies, capital, etc, as well as support from the big guns like the US opening their markets (see Japan as one such example) and it takes literally decades to go in that direction till finally getting there (or just somewhere)

I totally agree with what you are saying they are bound to face competition because there are already major players in those fields but they have to start somewhere and i think the time to do that is now. If they already have the raw materials, i believe they have a major advantage than the people who have to buy the materials and process them, they can lower the price of their end products because they have the materials in the first place.

[Dread Pirate Roberts]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

One of the factors that is very likely to be a factor is that the country does not balance, the development of finance throughout the world, and creates their pressures for their economy, and also creates inflation for their county. but i believe every country have a plan to improve their state finances and economy whether to collaborate or investment with other countries or sell or lease their assets. many underdeveloped countries do that.

[deisik]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It's high time that third world countries realise that it is industrialization and not natural resources alone that is going to make them leap from being a third world country to maybe an economic super power, They are over reliant on their natural resources and all they tend to do is to export them, if they are able to build factories that could transform their raw materials to finished products like developed countries do, they will end up being getting 10x the profits they make from exporting just the raw materials alone

If only things were that simple

The problem is that countries which are already industrialized have a competitive advantage while the third world countries can't just proceed from exporting raw materials and natural resources to manufacturing finished products and retail-ready goods because they simply would not be able to stand the competition with the developed countries. So, instead of getting 10x the profits from exporting natural resources, they would only incur losses by producing subpar goods that will fail to market

To do what you suggest requires a lot more than just building factories as it also requires highly qualified labor force, technologies, capital, etc, as well as support from the big guns like the US opening their markets (see Japan as one such example) and it takes literally decades to go in that direction till finally getting there (or just somewhere)

I totally agree with what you are saying they are bound to face competition because there are already major players in those fields but they have to start somewhere and i think the time to do that is now. If they already have the raw materials, i believe they have a major advantage than the people who have to buy the materials and process them, they can lower the price of their end products because they have the materials in the first place

The problem is more complex than it appears

More specifically, there is no shortage in raw materials and natural resources. Whatever natural resources market you may look at, it is saturated with plenty of suppliers from different countries undercutting each other. The implication is that it doesn't give them any advantage as any of them can be easily substituted by another supplier. Apart from that, such countries have corrupt governments which are busy filling their pockets. They are not willing to improve the lives of their citizens as these citizens may no longer want these governments once they are better off overall

[ShooterXD]

The problem is more complex than it appears

More specifically, there is no shortage in raw materials and natural resources. Whatever natural resources market you may look at, it is saturated with plenty of suppliers from different countries undercutting each other. The implication is that it doesn't give them any advantage as any of them can be easily substituted by another supplier. Apart from that, such countries have corrupt governments which are busy filling their pockets. They are not willing to improve the lives of their citizens as these citizens may no longer want these governments once they are better off overall

What you said expresses exactly what happens in Brazil.
Corrupt politicians tool everything, and the population experiences a lot of social inequality.
Banks dominate the economy, set abusive interest rates, and end up indebting the population.
Our minimum wage, in theory, should be adjusted annually to keep up with inflation, and today we have a salary of R$ 998 while the correct salary should be approximately R$ 4500. It is ridiculous, a country with so many resources, and so productive, to be so weak economically.
In my view, what makes the development of a country most difficult is the concentration of income and the social inequality caused by it.

[$Andreyka$]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Nothing will change. The rich get richer, the poor get poorer. It is all these inflation and crises that generated Bitcoin and other cryptocurrencies. As one famous person said, “Fiat money is the money of governments, and cryptocurrencies are the money of people.”
The problem with poor economies is that they no longer own their resources, their resources belong to corporations through controlled governments.

[deisik]

Let's not blame the inflation for seeing the worse situation of the people who live in a certain country. I watched a few documentaries online and I saw that they are from the slum and they are so poor but with the right dedication he succeeded in life and he now help those people who are also in slum to become successful. The lesson here is, it is all on you, don't rely to others but rely only to yourself and do your best to get out from being under the poverty

Exceptions typically prove the rule

And the rule here seems to be as follows. If you are an average guy with pretty average abilities who has been born into poverty in a third world country, no matter what you do (or dream of), you will basically end up where you started from (unless luck massively interferes). To be an exception, you need to be well above the average and you would still need a bit of luck to break out of the so-called poverty trap. Besides, it is through others and their help that such people move up. Long story short, if you rely only on yourself, you won't get anywhere (read, it is a team effort)

[TGD]

Inflation is inevitable in developing countries, even in underdeveloped since some fields are use to develop high rise buildings or sometimes they're resources is being transfer in other countries. There time that the demand for a specific crops or energy is not enough for their people that cause inflation to arise. What is really needed are public officials that not only use the government money for their sake but also to lessen and to moderate the inflation rate causes by losing their economic resources. And as an individual strive hard to find a better ways of earning or extra job or find skill like trading that can help you live while inflation is getting high.

[STT]

Our minimum wage, in theory, should be adjusted annually to keep up with inflation

Minimum wage is an artificial way to force pricing for Labor.   Its not really a correct way for a capitalist economy to operate with prices set by government, it can cause dangerous imbalance in supply and demand.    Its a related problem that government is forcing interest rates to stay low so that they can set debt repayments low or they might be insolvent or bankrupt even, similar to Greece which had no control to fix rates in this way.
   The QE programs are also faking demand which is not there for the debt.    All these measures represent weakness in the economy, inflation causes instability and irregular value and disruption to prices because value is no longer there as it should be.   The min wage does not fix inflation unfortunately, workers feel the failings in currency from the costs it causes to them where as large business likes the low cost of debt and can alter prices as they dominate various markets.

[wxa7115]

banks think that they can do whatever they want with money that is not even theirs but fortunately for us we have an option that we did not have before in the form of bitcoin and no one can tell you what to do with it no matter what they do.

I'm truly glad for Bitcoin to be an option we can tap into, but we have to look at how it is impossible for people to have all their funds in Bitcoin so that we have total control over what we own. Volatility is a major concern right now and will be that in the forthcoming years as well. I wouldn't even put all my money in Bitcoin if it has Gold's 'stability'.

What we need is a decentralized unit of account that maintains its value no matter what. I like the DAI stablecoin because it aims to solve that problem. The only thing we can't solve is scalability, therefore have to accept that Bitcoin and other cryptos will likely never reach a state of total mass adoption. Perhaps that we can have some sort of a workaround through interoperability between various networks, but we haven't seen it be put to the test yet.

The volatility is a concern and only in countries where their fiat is crashing bitcoin could be considered a store of value, however I really think that during the next decades governments will try to implement all kind of controls over what you can do with your money and the freedom to do whatever you want with your bitcoin will be more appreciated.

People have different expectations for bitcoin and I do not really need that bitcoin is adopted by most people around the world, as long as I could use bitcoin for several of my regular activities I will be happy.

[Sithara007]

Our minimum wage, in theory, should be adjusted annually to keep up with inflation

Minimum wage is an artificial way to force pricing for Labor. Its not really a correct way for a capitalist economy to operate with prices set by government, it can cause dangerous imbalance in supply and demand.

You are right. I am residing in India, although we have a minimum wage set by the government, it is rarely enforced. Most of the unskilled workers are employed in the informal sector, and in most cases they are paid well below the minimum wages. You can't blame the employers as well. If they raise their wages, then their businesses will not be able to compete against other brands and they will be forced to close down. In the end, it will do more harm than good to the employees. Concepts such as minimum wage are associated with socialism. And we all know that socialism is a failed ideology. History has proven that capitalism is much better than socialism and we should be better if we don't mix socialist concepts in a capitalist economy.

[yulionoo]

I think the underdeveloped countries will have difficulties if they do not sell their natural resources to developed countries. they will experience a crisis because the country does not get income. Most inflation occurs because the economy and the level of sales in the country are not stable. and inflation usually occurs because the central bank prints too much money. to avoid inflation they must export more than imports.

[Sithara007]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

What sort of BS are you blabbering here? World has failed the minority? Who is the minority? More than 80% of the world population lives in developing nations and are you going to say that they are a minority? I am also living in a developing nation, but I have never blamed any foreign nation for the issues here. The problems that we face are our own making. There is no point in blaming the others.

And now coming to the part regarding raw materials. If the developing nations have the technology to process these raw materials, then what is preventing them from doing that? But they are unable to do that because of corruption in the government and ethnic infighting. Check the case of Nigeria as an example. Despite huge petroleum reserves, the vast majority of the population is living in poverty.

[jaocoincrypto18]

It's not right to blame the poor or underdeveloped countries if they have an high inflation issue, this is because inflation problem can be anywhere and anytime. Inflation is the rate at which the general level of prices for goods and services rises and results in a decrease in purchasing power of a country's currency therefore becoming a poor country is not the only reason of inflation but because  either excess aggregate demand (economic growth too fast) or cost push factors in which rich countries could happen too.

[alexsandria]

Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Political crisis usually was the reason why underdeveloped countries can't even step forward. The option to cope a little up was to sell natural resources as you stated. Besides, developed countries just keep on progressing as it dominates the underdeveloped side that as well made an another burden for chance to advance as well. What must be solve is the political crisis and an individual who would choose their own country product than the foreign one. But it seems it would take a long time for the underdeveloped countries to solve unless they have a good political system.

[NathanJB]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Most probably. But there are two possible scenarios, the host country, the one where the resources are found, will not be able to earn from it. Nor will they be able to develop or extract these resources because they probably do not have the capacity to do so. The second scenario is that the income of the host country will increase because of the high price they put to their resources but the poor people living in the country will remain poor while the rich will grow even richer. And the second scenario is more likely to occur.

[airdnasxela]

A lot of third world country are actually rich with natural resources. I just think that the government don't handle it very well. I mean in my country, the Philippines, we're rich when it comes to natural resources but other countries (developed countries) are more likely benefitting from it than local people. Those people who live in provinces have a lot of natural resources in their place yet they're the one struggling to survive their everyday lives. Instead of maximizing what our country have, other tends to benefit more. They focus a lot on exporting and importing. They export what we have, and import things from other country. Where we could just prioritize what our own country offers.

[asus09]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Almost fiat currencies will inflation with lower value after several years later, maybe when we have about 10$ in our pocket for last ten years we can buy anything, for today we just can buy several kinds of candies because our money $10 have lower value by inflation, but if we use bitcoin as currencies still keep price with higher and not have reason for bitcoin become inflation value.

[huige007]

It's not right to blame the poor or underdeveloped countries if they have an high inflation issue this is because inflation problem can be anywhere and anytime. Inflation is the rate at which the general level of prices for goods and services rises and results in a decrease in purchasing power of a country's currency therefore becoming a poor country is not the only reason of inflation but because  either excess aggregate demand (economic growth too fast) or cost push factors in which rich countries could happen too.

That is not true. Not all of the underdeveloped countries have a high inflation rate. Most of them have a normal range of inflation rate and I don't think that the inflation rate has a factor for them being a underdeveloped country because it depends on the government if they are corrupt or not and if they are doing some projects that can attract investors will eventually boosts their economy.

But in the end, inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

[NathanJB]

It's not right to blame the poor or underdeveloped countries if they have an high inflation issue this is because inflation problem can be anywhere and anytime. Inflation is the rate at which the general level of prices for goods and services rises and results in a decrease in purchasing power of a country's currency therefore becoming a poor country is not the only reason of inflation but because  either excess aggregate demand (economic growth too fast) or cost push factors in which rich countries could happen too.

That is not true. Not all of the underdeveloped countries have a high inflation rate. Most of them have a normal range of inflation rate and I don't think that the inflation rate has a factor for them being a underdeveloped country because it depends on the government if they are corrupt or not and if they are doing some projects that can attract investors will eventually boosts their economy.

But in the end, inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

You are bringing the discussion into an unnecessary point. The two are talking about the possible correlation between inflation and the country being underdeveloped. And here you are immediately jumping into these countries needing to invest in Bitcoin. This is a huge leap into a different idea.

Well, inflation does not necessarily be the thing of the poor countries only. It is just that when there is inflation in these countries the effect is worse because even before the inflation arrives the people are already having a hard time making ends meet. So when the inflation comes in, things are getting more and more unbearable. Unlike in richer countries, inflation is still present but since they have a high standard of living, they can contain it to a certain extent that they are not going to lose food on the table due to it.   

[Wysi]

It's not right to blame the poor or underdeveloped countries if they have an high inflation issue this is because inflation problem can be anywhere and anytime. Inflation is the rate at which the general level of prices for goods and services rises and results in a decrease in purchasing power of a country's currency therefore becoming a poor country is not the only reason of inflation but because  either excess aggregate demand (economic growth too fast) or cost push factors in which rich countries could happen too.

That is not true. Not all of the underdeveloped countries have a high inflation rate. Most of them have a normal range of inflation rate and I don't think that the inflation rate has a factor for them being a underdeveloped country because it depends on the government if they are corrupt or not and if they are doing some projects that can attract investors will eventually boosts their economy.

But in the end, inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

Regardless of how much they invest in bitcoin and other crypto still the inflation will exist as long as they have corrupt government and people. They need to look into the root cause of inflation and then try eliminating it which require an assurance from both the government and people of the county,  I have researched few common reasons for inflation are dodging taxes, corrupt government, mafia rule which eats up the natural resource of the country.

[Webetcoins]

It's not right to blame the poor or underdeveloped countries if they have an high inflation issue this is because inflation problem can be anywhere and anytime. Inflation is the rate at which the general level of prices for goods and services rises and results in a decrease in purchasing power of a country's currency therefore becoming a poor country is not the only reason of inflation but because  either excess aggregate demand (economic growth too fast) or cost push factors in which rich countries could happen too.

That is not true. Not all of the underdeveloped countries have a high inflation rate. Most of them have a normal range of inflation rate and I don't think that the inflation rate has a factor for them being a underdeveloped country because it depends on the government if they are corrupt or not and if they are doing some projects that can attract investors will eventually boosts their economy.

But in the end, inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

Regardless of how much they invest in bitcoin and other crypto still the inflation will exist as long as they have corrupt government and people. They need to look into the root cause of inflation and then try eliminating it which require an assurance from both the government and people of the county,  I have researched few common reasons for inflation are dodging taxes, corrupt government, mafia rule which eats up the natural resource of the country.

Well, I highly agree with you that corruption leads to such problems like inflation and it is the major cause other than illiteracy due to which people cant improve their financial standards. But don't you think that with the invention of bitcoin and altcoins individuals can finally get rid of corrupt governments. They need no more their support and can make good profits that can beat inflation.

[GreenStox]

some countries already have experienced inflation and make their financial condition destroyed, so it's better not to over-develop without thinking about the economic conditions in the country because the most important thing is to stabilize the economy in the country first.

[iMark]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Is it that the use of natural resources? to make the welfare of the country's society increase? if the government can manage it well, then the country's natural resources can become infinite wealth, look at the UAE, only with the oil wealth they have, almost everyone in their country has a good economy, everything is paid for by the state, schools food and so on. Make their national economy very well.
While in my own country with a lot of gold wealth, but the government is greedy to sell it to foreign countries, and let the company seize the existing gold in our country, our country is only given a tax of 1% of the income owned by that foreign company, very sad indeed.

[Mike Mayor]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

Printing out money, which is what causes inflation. A vicious cycle. They should be exporting your right, the only problem is many of the things they need are not available locally and they are forced to import.
There could be greed and government corruption preventing them from exporting their natural resources. That is the only reason I can think of that they would not export. I am not sure you can blame underdeveloped countries for inflation. Look at the US economy.

[JeffBrad12]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

Printing out money, which is what causes inflation. A vicious cycle. They should be exporting your right, the only problem is many of the things they need are not available locally and they are forced to import.
There could be greed and government corruption preventing them from exporting their natural resources. That is the only reason I can think of that they would not export. I am not sure you can blame underdeveloped countries for inflation. Look at the US economy.

The lack of good management is to blame for the underdeveloped country, they are exporting resources simply because that's the only way to get money fast otherwise it'd take ages to just extract all the thing and process it themselves. the inflation is I think because the economy of such country is quite fragile therefore it's still dependant on the affection of many major countries out there with strong economy.

[davinchi]

inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

Regardless of how much they invest in bitcoin and other crypto still the inflation will exist as long as they have corrupt government and people. They need to look into the root cause of inflation and then try eliminating it which require an assurance from both the government and people of the county,  I have researched few common reasons for inflation are dodging taxes, corrupt government, mafia rule which eats up the natural resource of the country.

I am not trying to discourage the use of cryptocurrency, but when it even comes to dodging of taxes, I think cryptocurrency is even the worst tool to use which is why government were even initially against this thinking they will be losing money until they realized also that there is a way that the system can be regulated for them to still be able to get their taxes from cryptocurrency users, and I totally do agree that government are the main catalyst to inflation because of their corruption, and if inflation is really to be ended, it has to start from government controlling the way that they operate first, if the corruption level in the government operation can reduce to the fullest, then there is tendency of inflation even reducing to zero without even involving the use of cryptocurrency.

[Brunus]

Inflation is one of the tools a government has to control its monetary policy.
It is a continuous temptation, because perhaps we do not realize that inflation is a tax in all respects: in fact, by printing paper, the government loses value of the money we have in our hands.
Bitcoin was born precisely against this type of problem.

[Wintersoldier]

Inflation is one of the tools a government has to control its monetary policy.
It is a continuous temptation, because perhaps we do not realize that inflation is a tax in all respects: in fact, by printing paper, the government loses value of the money we have in our hands.
Bitcoin was born precisely against this type of problem.

Basically, it is not just the tax, most of the time, the price of the goods and resources do really become high because of the demand for it. In other reason, we could blame how big is the taxes but if the government and private sectors provide salary which is considerably high to support huge taxes, there's no reason for them to be blamed. Basically, the problem now is how an individual will handle the inflation by himself through the use of decentralized bitcoin cryptocurrency.

[huige007]

inflation is inflation. I mean even if a country has a low rate of it, still the people will be facing a lot of trouble and therefore, these common people should take some firm steps on their own for the betterment of living standards. These are the countries who need to invest in bitcoin so that they can improve their financial status and enjoy luxuries offered by life. They should stop depending on others.

Regardless of how much they invest in bitcoin and other crypto still the inflation will exist as long as they have corrupt government and people. They need to look into the root cause of inflation and then try eliminating it which require an assurance from both the government and people of the county,  I have researched few common reasons for inflation are dodging taxes, corrupt government, mafia rule which eats up the natural resource of the country.

I am not trying to discourage the use of cryptocurrency, but when it even comes to dodging of taxes, I think cryptocurrency is even the worst tool to use which is why government were even initially against this thinking they will be losing money until they realized also that there is a way that the system can be regulated for them to still be able to get their taxes from cryptocurrency users, and I totally do agree that government are the main catalyst to inflation because of their corruption, and if inflation is really to be ended, it has to start from government controlling the way that they operate first, if the corruption level in the government operation can reduce to the fullest, then there is tendency of inflation even reducing to zero without even involving the use of cryptocurrency.

To be very honest, that was a bit painful to hear that crypto currency is the worst tool to use. I really wonder what you think about bitcoin after watching Eric and people of his kind who became rich rather millionaire by spending money on them at right time. No pathetic tool can be this cool. In my opinion, anyone can improve his financial standard by investing in the right coin. The problem of money can be solved at individual levels with ease.

[cotton ball]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Almost country have inflation by using and adopting their cash money, last ten years with the same amount money you can buy everything, but if you use the same amount money you only buy several kinds, you have use alternative payment to increase your money because you can take inflation and your money value always have higher price.

[Vishnu.Reang]

I am living in a developing country (India) and here the inflation rate is very low (3%). 5-6 years ago, it was going at 13-14%, but the new government managed to bring down the inflation rate by quite a bit. Now some of the analysts are even complaining that the low inflation rate is not good for the economy and this is one of the reasons behind the economic slowdown.

[deisik]

It is a continuous temptation, because perhaps we do not realize that inflation is a tax in all respects: in fact, by printing paper, the government loses value of the money we have in our hands

It seems appropriate to explain why the inflation tax can be quite profitable for some

As the term itself suggests, inflation can be considered as a form of tax, and tax means someone pays it and someone else receives it. In this case, the inflation tax (otherwise known as seigniorage) is paid by the common people while it is received by those who print the money (read, the government). You may rightfully ask here how it is possible as the government doesn't seem to receive anything

But that's not so. Inflation (as in price Inflation) implies the loss of the purchasing power of a currency, and this loss is what the government receives as a gain in its own purchasing power since it can buy anything what can be bought with that new money at old prices not yet adjusted for the inevitable inflation. The point is, inflation doesn't instantly propagate through the economy, so those who have early access to money can take advantage of this

[barabarian1]

in my opinion there are many factors that cause underdeveloped countries to experience inflation. and in my opinion the main factors that cause underdeveloped countries to experience inflation are unstable political and economic conditions and many acts of corruption. if a country's politics are unstable, foreign investors will be afraid to invest in their countries. and this will make the country's economy worse and ultimately cause inflation with the fall of the national currency.

[meliodas]

in my opinion there are many factors that cause underdeveloped countries to experience inflation. and in my opinion the main factors that cause underdeveloped countries to experience inflation are unstable political and economic conditions and many acts of corruption. if a country's politics are unstable, foreign investors will be afraid to invest in their countries. and this will make the country's economy worse and ultimately cause inflation with the fall of the national currency.

Inflation is normal and even the developed countries are experiencing inflation. The people in every countries should get educated about the inflation because it is normal and they should prepare to face it and don't let their money sit inside their bank account because it will only eat their fiat currency alive. They should do investment that the annual interest is above the inflation rate so they can survive from inflation and slowly grow their money.

[koura_cc]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

As long as the world economic structures evolves around fiat money, which is basically created through debt, there's not a big chance to eradicate inflation. And then, you have the fact that you can't have everyone at the top at the same time. The world, and its economy as a consequence, it's not homogeneous, nor do we want it to be. The rise of some will always mean the fall of others, this happens as natural, even without a clear or direct intention behind. Blockchain and crypto can help on making things more balanced and instill new benefits accessible for every, which can have a general improvement. But there's simply no way to make all downsides disappear.

[panganib999]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Severe inflation is really enormous especially for developing and underdeveloped countries. One reason might be, the country is making a move to counter something that is happeming within the country. For instance, the government of the country is trying to lessen and minimize the usage of cigarretes and tobacco due to the growing number of people dying from diseases caused by it, so their counter action to this is raising it's price. It could have been more better and effective if instead of raising prices, they raise their exporting price if their natural and native products.

[alyssa85]

I am living in a developing country (India) and here the inflation rate is very low (3%). 5-6 years ago, it was going at 13-14%, but the new government managed to bring down the inflation rate by quite a bit. Now some of the analysts are even complaining that the low inflation rate is not good for the economy and this is one of the reasons behind the economic slowdown.

Well done for getting inflation down!

As for the slowdown - there is a global slowdown in place at the moment due to the trade war. The trade war won't end soon, so countries need to find other sources of revenue (domestic spending) to compensate.

[Pearls Before Swine]

What exactly *is* the rate of inflation in 3rd world or developing countries these days?  I know in countries like Venezuela and parts of Africa its too high to even measure, but those are exceptional cases of hyperinflation.  The rest of the world doesn't seem to be experiencing anything even close to that.

Anyway op, inflation affects all countries, all economies, all the time.  Developing countries aren't unique, tho they probably feel the effects more acutely because of higher rates of poverty and unemployment among their citizens.  Last time I checked, inflation in the U.S. was pretty low despite all of that money printing.  Is it really that high in the rest of the world?

[Chaintrader_1]

Check out the strategy of what America and China are doing and which possible effects this can have on Bitcoin
https://youtu.be/JM9a38DQo28

[ufaiz50]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

In underdeveloped countries they need help from developed countries, this is to improve their selling points if they work with developed countries. As you said they must increase the value of selling natural resources and human resources, both are important for the progress of the country.

There should still be many things that destroy the value of a country's, currency such as technology. but to move forward if they really need a better economy, they must increase collaboration with famous figures or countries.

[Wysi]

What exactly *is* the rate of inflation in 3rd world or developing countries these days?  I know in countries like Venezuela and parts of Africa its too high to even measure, but those are exceptional cases of hyperinflation.  The rest of the world doesn't seem to be experiencing anything even close to that.

Anyway op, inflation affects all countries, all economies, all the time.  Developing countries aren't unique, tho they probably feel the effects more acutely because of higher rates of poverty and unemployment among their citizens.  Last time I checked, inflation in the U.S. was pretty low despite all of that money printing.  Is it really that high in the rest of the world?

Inflation is really high in developing nations and the worst part is that the working class professional has to pay unnecessary taxes just because he is employed as poor just survive with anything and everything, it does not bothers the riches and politicians but middle class people are burden with economical crisis as a result they cut down their spending which comes back hits the business class as well. It's a cycle where no one is spared at the end, the cause of inflation in developing nations are the loans which they take from world bank for development which goes to politicians coffers and in order to repay the government imposes more tax and vendors increase the price further to remain unaffected by the increase in the tax which collectively causes inflation and only government and corrupt people are responsible for it.

[huu78]

In my opinion, it all depends on what they do, although they can add to their natural resources, HUMAN resources do not exist and no better than other countries yes should be forced to sell them not to process their own.
For example, if they have gold land and they do not have the experts and the heavy equipment to cultivate themselves how it can? We need to need another country to help their HR to the maximum.
But still does not improve the economy of the country as good as it may have been major inflation.

[Suslived]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Underdeveloped countries will always need to sell and depend on other countries. I'm not a national economist but it's not hard to speculate that adopting cryptocurrencies could be a good step towards something better. I can only imagine that the first country to fully embrace cryptocurrencies will be somewhat be rewarded with some early investors in the space. If all is well then blockchain companies could move to that country and setup a "home-base" from where future innovations could stem from.

[Colt81]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Inflation is a huge problem in a economy because it causes increased of poverty and increased of criminal rate, that is why some underdeveloped countries always depends on other developed countries when they are experiencing bad problems in their economy. I think things would turn around for good if underdeveloped countries will start to add value to their natural resources because they are the one's will get the benefits from it, but their economy would not improved because there will be no exchange of dollars.

[Magkirap]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Hmmm i think they can earn more if they export their product. Thats how the system work, it is better to have greater ezports than imports because in that way they are bringing maybe dollars in their countay which is more likely have a greater value compare to their reapective currency. I believe that aupporting their own product was important but it is more important to export it to another country so that they can earn a bigger profit.

[pecson134]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

[EdvinZ]

Third world countries tend to have high levels of corruption. And if the rulers of these countries really wanted the growth of their economies, it would have happened long ago. In addition, talented, highly intelligent people are migrating to developed countries, thereby giving impetus to an even greater economic gap between highly developed economies and third world countries.

[doomistake]

Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

How would they earn profits to boost up their economy if they are not going to sell their natural resources on other countries that have good economy? They have to even if they don't want to, their pride won't feed themselves to fight poverty, therefore they have to do everything in their power to take a step away from poverty and having a poor economy. They can replenish their natural resources by using it properly and not abusing it buy they can't replenish their own economy with just their own, I mean there have to be a cycle for that.

Importing and Exporting goods to other rich countries is a good way to solve their issues, other countries being aware of their products and tourism could increase the job employments and dollars to their economy (USD).

[horrifiedx1]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

[Webetcoins]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Do you really think that governments control the inflation. As far as I have read and experienced, they are the main reason behind inflation. Corrupted authorities will never be good for their people. They control us with their tricks. Blockchain can help a lot in order to improve the overall economy of a state but this depends on government itself. Bitcoin can help people at individual level and it should be utilized by every person.

[Kambal2000]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Do you really think that governments control the inflation. As far as I have read and experienced, they are the main reason behind inflation. Corrupted authorities will never be good for their people. They control us with their tricks. Blockchain can help a lot in order to improve the overall economy of a state but this depends on government itself. Bitcoin can help people at individual level and it should be utilized by every person.

Corruption is the main reason why there are lack of opportunities, lack of success for people, poor infrastructure and mostly the rich person are becoming more richer and richer everyday especially corrupt officuals.

If a certain country will begin to develop and use blockchain still it is not the answer for inflation and to avoid corruption as officials can easily do corruption if they want.

[Webetcoins]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Do you really think that governments control the inflation. As far as I have read and experienced, they are the main reason behind inflation. Corrupted authorities will never be good for their people. They control us with their tricks. Blockchain can help a lot in order to improve the overall economy of a state but this depends on government itself. Bitcoin can help people at individual level and it should be utilized by every person.

Corruption is the main reason why there are lack of opportunities, lack of success for people, poor infrastructure and mostly the rich person are becoming more richer and richer everyday especially corrupt officuals.

If a certain country will begin to develop and use blockchain still it is not the answer for inflation and to avoid corruption as officials can easily do corruption if they want.

We are living in a time where the leaders do not care about their followers. King care less about his people. It is stupid to expect the governments to be nice if you do not know how to fight for your rights. Corruption succeeds when common people do not protest against it. The best to save oneself from such financial crisis is to invest in bitcoin. No interference of government, a lot of rewards. What else can one ask for?

[Memminger]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Do you really think that governments control the inflation. As far as I have read and experienced, they are the main reason behind inflation. Corrupted authorities will never be good for their people. They control us with their tricks. Blockchain can help a lot in order to improve the overall economy of a state but this depends on government itself. Bitcoin can help people at individual level and it should be utilized by every person.

Corruption is the main reason why there are lack of opportunities, lack of success for people, poor infrastructure and mostly the rich person are becoming more richer and richer everyday especially corrupt officuals.

If a certain country will begin to develop and use blockchain still it is not the answer for inflation and to avoid corruption as officials can easily do corruption if they want.

We are living in a time where the leaders do not care about their followers. King care less about his people. It is stupid to expect the governments to be nice if you do not know how to fight for your rights. Corruption succeeds when common people do not protest against it. The best to save oneself from such financial crisis is to invest in bitcoin. No interference of government, a lot of rewards. What else can one ask for?

I think the strongest weapon that a person can wield especially against corruption is to educate the people. It is because of ignorance that the people had been abused by this opportunistic politicians. To relate it with Bitcoin, if somehow a person could simplify the blockchain technology to a level where a beginner could comprehend and would be dedicated to know more about it by triggering there interest would be beneficial to both the cryptoworld and to them.

[Wintersoldier]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Not all the case is that the inflation is based from the goods and the demand for it. Sometimes, the government can pass a law inducing inflation on goods but in return, they will provide a compensation through increasing the salary of the people. In particular, it happens with the tax inflation that affects the price of the goods.

In my opinion, this inflation could be solve simply by the citizens that will choose their own products rather than choosing foreign proucts.

[Oneandpure]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.

if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country

Do you really think that governments control the inflation. As far as I have read and experienced, they are the main reason behind inflation. Corrupted authorities will never be good for their people. They control us with their tricks. Blockchain can help a lot in order to improve the overall economy of a state but this depends on government itself. Bitcoin can help people at individual level and it should be utilized by every person.

Government never control the inflation of money value, they only think with how to get profit with using cash money and never care whit their people saving money in the bank with long term period, how much money increase lower with inflation by saving money why not saving money with convert to gold or can convert with bitcoin and altcoin, if ten years have saving money in the bank you have miss big chance to increase your money if convert with gold or crypto.

[romero121]

Third world countries were the big sufferers of the inflation. First world countries make plans to get recover through the third world countries. This further turns to be a burden for the third world countries which are at the edge of development. In such occasions the affected countries without any plan continue to take decisions which causes heavy inflation.

Another factor is the corruption, by this time to get rid of the inflation first world countries will impose hard market strategies to make themselves strong, and this also been done by making politicians fall for corruption. Very few country's political leaders stand against several policies by first world countries to make thyself overcome the inflation.

[STT]

I've read that the worst effects of inflation take place on those most removed from the source and of course a 3rd world country does not benefit from the cheap debt financing that comes form the original issuance of the currency.  So the citizens of the nation far from the inflation cause such as in the dollar global reserve system do not have benefits from that system that originate with the new currency or the biggest traders with that originating country, so EU, UK and Japan who all receive dollars not long after they are printed all gain by a more direct relationship.
   There is a historical bias to current economic systems that does not properly reflect the world growth that will take place in 2020 going forward.    Any good system has to adapt to what is true today not just the wealth of yesterdays production.

[abhiseshakana]

Third world countries were the big sufferers of the inflation. First world countries make plans to get recover through the third world countries. This further turns to be a burden for the third world countries which are at the edge of development. In such occasions the affected countries without any plan continue to take decisions which causes heavy inflation.

Another factor is the corruption, by this time to get rid of the inflation first world countries will impose hard market strategies to make themselves strong, and this also been done by making politicians fall for corruption. Very few country's political leaders stand against several policies by first world countries to make thyself overcome the inflation.

I've read that the worst effects of inflation take place on those most removed from the source and of course a 3rd world country does not benefit from the cheap debt financing that comes form the original issuance of the currency.  So the citizens of the nation far from the inflation cause such as in the dollar global reserve system do not have benefits from that system that originate with the new currency or the biggest traders with that originating country, so EU, UK and Japan who all receive dollars not long after they are printed all gain by a more direct relationship.
   There is a historical bias to current economic systems that does not properly reflect the world growth that will take place in 2020 going forward.    Any good system has to adapt to what is true today not just the wealth of yesterdays production.

The dollar is used as a benchmark exchange rate for various reasons, one of which is because initially the largest gold reserves in the United States, the United States who won the Second World War, the largest and most powerful military, and the highest Gross Domestic Product in the world. So it is natural that foreign debt is given in US dollars, especially if foreign debt is provided by the IMF with the aim of improving the balance of payments. because the aim is to improve the balance of payments, the IMF conducts a series of interventions that are considered effective in improving the economic conditions of a country accordingly but are often considered laden with political content.

A variety of IMF lending instruments are specifically designed for various balance of payment needs as well as the special conditions experienced by its diverse member countries (https://www.imf.org/en/About/Factsheets/IMF-Lending).

Inflation means an increase in prices and services continuously due to an increased supply of money circulated in a country. Basically inflation is not a bad thing, inflation is a sign that the economy in the country is productive and thrives. More goods and services are produced and distributed, there is an increase in employment as well as workers' wages. The problem is when inflation is uncontrolled.

We have to keep in mind that basically money has no meaning (worthless). Money is just a piece of paper or a coin bearing a certain value. The new value has meaning if he can give you something, such as can be exchanged for food or clothing, or other needs.

If a poor country wants to buy something from developing and rich countries, there will be exchange rates. The tendency of some poor countries will print money to overcome economic problems. If the amount of money in circulation is very large to pay for this exchange rate, there will be inflation and the value of the money will decrease and the exchange rate will be very bad.

The only way that a poor country can become rich is to produce value, both monetary value and production value. Each country must be able to measure its population in order to work productively. The formula depends on each country, what is the strength of their country, which is the biggest commodity and the character of the people.

[JeffBrad12]

Third world countries were the big sufferers of the inflation. First world countries make plans to get recover through the third world countries. This further turns to be a burden for the third world countries which are at the edge of development. In such occasions the affected countries without any plan continue to take decisions which causes heavy inflation.

Another factor is the corruption, by this time to get rid of the inflation first world countries will impose hard market strategies to make themselves strong, and this also been done by making politicians fall for corruption. Very few country's political leaders stand against several policies by first world countries to make thyself overcome the inflation.

Kinda make sense to think about your first statement considering that the system was designed that way. The third world countries are like the countries that struggles the most when it comes to crisis as well as having the biggest inflation. Other countries always sees the underdeveloped countries' currency as nothing but a thin paper whereas they both made by chopping off trees but backed up by different fundamental. However I think that it is the corruption that makes all those countries struggle the most, the crazy corruption could take up the entire countries GDP and left them being poor for yet another centuries.

[bohr]

I've read that the worst effects of inflation take place on those most removed from the source and of course a 3rd world country does not benefit from the cheap debt financing that comes form the original issuance of the currency.  So the citizens of the nation far from the inflation cause such as in the dollar global reserve system do not have benefits from that system that originate with the new currency or the biggest traders with that originating country, so EU, UK and Japan who all receive dollars not long after they are printed all gain by a more direct relationship.
   There is a historical bias to current economic systems that does not properly reflect the world growth that will take place in 2020 going forward.    Any good system has to adapt to what is true today not just the wealth of yesterdays production.

The reason this happens is because governments get to spend whatever money they can print before inflation takes place, it is not only after they spend the money that they have created that this money creates inflation and the price of everything begins to go up, so governments not only have the advantage of printing their money but they get the advantage of being able to spend it before anyone else and before that money alters the price of all the products and services available.

[Xxmodded]

I've read that the worst effects of inflation take place on those most removed from the source and of course a 3rd world country does not benefit from the cheap debt financing that comes form the original issuance of the currency.  So the citizens of the nation far from the inflation cause such as in the dollar global reserve system do not have benefits from that system that originate with the new currency or the biggest traders with that originating country, so EU, UK and Japan who all receive dollars not long after they are printed all gain by a more direct relationship.
   There is a historical bias to current economic systems that does not properly reflect the world growth that will take place in 2020 going forward.    Any good system has to adapt to what is true today not just the wealth of yesterdays production.

The reason this happens is because governments get to spend whatever money they can print before inflation takes place, it is not only after they spend the money that they have created that this money creates inflation and the price of everything begins to go up, so governments not only have the advantage of printing their money but they get the advantage of being able to spend it before anyone else and before that money alters the price of all the products and services available.

Government not have new ideas how to keep their money keep higher value without inflation, almost countries not agree when talking about bitcoin can increase higher price than using cash money. But in reality government not agree want to adopt bitcoin and altcoin as payment transaction or looking other way by using gold for investing for less value transaction at the future.

[uneng]

The only way that a poor country can become rich is to produce value, both monetary value and production value. Each country must be able to measure its population in order to work productively. The formula depends on each country, what is the strength of their country, which is the biggest commodity and the character of the people.

The problem with underdeveloped countries is that they just sell raw materials to developed countries for any cheap price. They don't manufacture their materials, they don't have their own technology and they don't export expensive commodities to strength their economies.
Only technological countries can be wealthy nowadays and offer life quality to their people, others will keep suffering with their poor economy and uncontrolled inflation levels, heavily intervened by the government.

[drlukacs]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Doing so is like making their country worse and worse. The subsistence economy has been undervalued for a long time and it's the worst strategy I've ever known. because an economy without trade with foreign countries will be outdated, the demand will also be significantly reduced. For example, you are holding gold and everyone has a lot of gold for a long time and no one wants to buy gold, so does gold mean anything for you?
so we should have a good trade with foreign countries. That is the way to help a country develop the best.

[bohr]

Government not have new ideas how to keep their money keep higher value without inflation, almost countries not agree when talking about bitcoin can increase higher price than using cash money. But in reality government not agree want to adopt bitcoin and altcoin as payment transaction or looking other way by using gold for investing for less value transaction at the future.

And this is because governments do not feel any need to change their ways, they get to do whatever they want, to pass any laws that they may like and if for some reason they begin to run short on funds they can always print more, what it is not to like about that arrangement? But like always they are being shortsighted, this cannot last forever people are not going to keep accepting this situation for long when for the first time in a long time they have an alternative in bitcoin.

[goaldigger]

Third world countries were the big sufferers of the inflation. First world countries make plans to get recover through the third world countries. This further turns to be a burden for the third world countries which are at the edge of development. In such occasions the affected countries without any plan continue to take decisions which causes heavy inflation.

Another factor is the corruption, by this time to get rid of the inflation first world countries will impose hard market strategies to make themselves strong, and this also been done by making politicians fall for corruption. Very few country's political leaders stand against several policies by first world countries to make thyself overcome the inflation.

Every country wants to become rich despite of their resources and its normal for a country to impose such law so they can survive from a big fall. Well, in my country we have a small rate of inflation but as a third world country, corruption is too high and that stops people from growing as well. If only cryptocurrency can stop them, then its good for all of us political leaders should live for their people and not on their personal wants.

[STT]

The problem with national currencies that relate only to paper value and promises is that the unit of value is uncertain and this unknown factor to every transaction in that currency leads to a discouragement of business and so the governments action in not providing a stable currency and certain accounting causes secondary harm to the country's prospects.
   Think of all the demand for the US dollar, that works in reverse for all these little developing nations.  The bias we have in the system where every country wants to hold dollars causes a lack of investment elsewhere to occur.   Ideally we want all currencies level in their equivalence and the easiest way to do that has been historically via gold.    The modern answer right now is that crypto and specifically BTC is providing a certain standard that helps to facilitate trade across borders, between nations and people globally.

[JeffBrad12]

The only way that a poor country can become rich is to produce value, both monetary value and production value. Each country must be able to measure its population in order to work productively. The formula depends on each country, what is the strength of their country, which is the biggest commodity and the character of the people.

The problem with underdeveloped countries is that they just sell raw materials to developed countries for any cheap price. They don't manufacture their materials, they don't have their own technology and they don't export expensive commodities to strength their economies.
Only technological countries can be wealthy nowadays and offer life quality to their people, others will keep suffering with their poor economy and uncontrolled inflation levels, heavily intervened by the government.

I know that well only industrial country that could process their raw material into something even more valuable could grow into a rich country take example of south korea and china they could become developed country from a poor country in short period of time and that's because they are industrial country and the chinese's growth after so much investors coming there is immense but now the turn for vietnam after the trades war. The problem with underdeveloped country is that they are always lacking common sense to process their own material and the corruption aswell. they still think about their own wealth and not for the entire country. but the weak currency that these underdeveloping countries have is also a problem for their advancement of the infrastructure.

[drlukacs]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

I don't think this is a good idea. Foreign trade is very important for the 4.0 era, so that China has become the No. 2 power in the world based on its resources and cheap labor. so we should actively support poorer countries to trade more and what they need to do is improve the quality of their products to create credibility and there will be more demand from more countries. .
for example, in less resource-rich countries like Africa, they should focus on other things. be it a technology service or something that is not related to resources that can make money.

[abhiseshakana]

I don't think this is a good idea. Foreign trade is very important for the 4.0 era, so that China has become the No. 2 power in the world based on its resources and cheap labor. so we should actively support poorer countries to trade more and what they need to do is improve the quality of their products to create credibility and there will be more demand from more countries. .
for example, in less resource-rich countries like Africa, they should focus on other things. be it a technology service or something that is not related to resources that can make money.

According to the Future of Jobs Report, World Economic Forum, there are five HR skills in industry 4.0 in the 2015-2020 timeframe. These skills if sorted are complex problem solving, social skills, process skills, system skills, and cognitive abilities. After 2020, cognitive abilities are expected to be the most needed skills, followed by system skills, complex problem solving, content skills, and process skills (http://www3.weforum.org/docs/WEF_Future_of_Jobs_2018.pdf).

Entering the industrial era 4.0 forced humans to enter two worlds, namely the real world and the virtual world. The Internet of things, which is the spirit of this era, conditions humans in a personal and communal way, relying heavily on the virtual world, which is increasingly complicated and smart. the shift from cognitive ability from fifth to first in 2020 makes it a challenge for all humans on earth.

To deal with the industrial era 4.0, it requires human resources who have flexible cognitive abilities, good logic, sensitive to problems, mathematical abilities, and visualization. We must become smart industrial 4.0 human resources, if not smart we can become victims of the 4.0 industrial revolution, the possibility that what happens is that we are not real anymore now entering the virtual world, but will become 'supernatural', because our existence vanished by itself. We are lost from the circulation and civilization of the world.

For poor African countries, the challenge will be multiplied. The main factor is how to think about becoming a smart human being while only to survive is very difficult (access to fulfill basic needs is minimal). Africa needs many opportunities for improvement in the quality of primary life. Opportunities needed by poor countries are access to employment to improve living standards, which also means investment in African countries.

China is now investing heavily in Africa and binding Africa with policy (OBOR). Even though China aims for Chinese interests, let's hope that the standard of living of the African people will improve.

[Mometaskers]

Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

That's assuming that they can even have control of their resources. Being many of these countries being shitholes many of the resource extraction are done by multlinational companies that would interfere in the politics of the country to keep ores flowing.

Even without foreign funding though, being these countries have few stable institutions, it's close to impossible for them to start operations on their own.

[BartS]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

Many underdeveloped countries do not have the infrastructure to transform their natural resources into something else that they can sell, so they do not really have any option and they have to export those resources to other countries, you may not like it but that is the way it works.

The current economic system has failed everyone except those that are at the very top and take the decisions since they know what it is going to happen and when and they can take advantage of this.

[TastyChillySauce00]

The problem with underdeveloped countries is that they just sell raw materials to developed countries for any cheap price. They don't manufacture their materials, they don't have their own technology and they don't export expensive commodities to strength their economies.
Only technological countries can be wealthy nowadays and offer life quality to their people, others will keep suffering with their poor economy and uncontrolled inflation levels, heavily intervened by the government.

That's most of the case nowadays. The industrial country will always benefit from the immense value addition to the product they produce meanwhile the underdeveloped countries will just become a ricefield. That happens not because of lacking human resources but simply because of mismanagement and they keep doing the same mistake over and over again. The lack of support for entrepreneurship also contributes to the low GDP and underdeveloped countries seem to forget that taxes generated from the private sectors are immense. Most of the developed countries like South Korea, Japan or even Singapore have some kind of big corporation that takes some percent of the world market share meanwhile the underdeveloped countries have nothing or if there's a big corporation it just dominates their own country. Corruption and bribery are common practices and speaking from my experience, these are just too many it feels so stupid to even start a business. If an underdeveloped country will just stay that way, there's no room for them in the future. The economic growth in underdeveloped countries may seem promising with most of them reaching 5% but the world is going ahead and all those developed countries also racing to grow their economics and frankly 5% of $0.5 - 1 Trillion GDP economic is a lot less than 2.5% of $20 Trillion GDP economic.

[tbterryboy]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

They should be blamed for bad their economy is, especially their governments should be the ones taking most of the blame. If you check out these developing countries you will notice that their government is very corrupt. Most of them don't do things that would favor the country in general, because they are bent on pursuing their own personal gain rather doing things that would help the country grow.

Lots of them steal money from those countries and push them abroad to developed countries, why won't their countries fail? The worst part is that the foolishness of their leaders never end,they still continue their greedy, corrupt practices and the way I see it these countries may never be developed (of course, that's if they never change).

[drlukacs]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

no, it's called selfishness and selfishness only brings bad things to them. an economy without trade leads to poverty in that country. If a country is self-sufficient, then how can it grow when it is only made and eaten? when they have a surplus on a product, what do they do with it when there is no trade with foreign countries? they will certainly continue to be poor. So for poor countries, they also have to learn a lot about the rich countries' culture and continually improve production to make the country more developed.

[TastyChillySauce00]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

no, it's called selfishness and selfishness only brings bad things to them. an economy without trade leads to poverty in that country. If a country is self-sufficient, then how can it grow when it is only made and eaten? when they have a surplus on a product, what do they do with it when there is no trade with foreign countries? they will certainly continue to be poor. So for poor countries, they also have to learn a lot about the rich countries' culture and continually improve production to make the country more developed.

Trades is indeed necesssary for a country to grow but a country also need to make a higher valued product out of their raw materials and not just selling it off to foreign country. Most of the underdeveloped country always failed in this respective field and most of the exports are from private sector owned by foreign investors. A country can't grow without trade but will always stay poor if what they capable off is just selling things they have even worst if it's unrenewable resources.

[EdvinZ]

Hyperinflation is usually seen in countries where corruption is high and rulers do not care about the welfare of their citizens. Instead, they plunder their own country, selling its resources for small prices to more developed countries. The cure for hyperinflation is honest and loving rulers.

[breathlessz]

Hyperinflation is usually seen in countries where corruption is high and rulers do not care about the welfare of their citizens. Instead, they plunder their own country, selling its resources for small prices to more developed countries. The cure for hyperinflation is honest and loving rulers.

right, as divenezuela, where it was reported that corruption there was rampant, so the country became chaotic in its economic system. to overhaul governance is indeed not easy, and requires time. until finally they use crypto to be the payment instrument

[Arkann]

Hyperinflation is usually seen in countries where corruption is high and rulers do not care about the welfare of their citizens. Instead, they plunder their own country, selling its resources for small prices to more developed countries. The cure for hyperinflation is honest and loving rulers.

right, as divenezuela, where it was reported that corruption there was rampant, so the country became chaotic in its economic system. to overhaul governance is indeed not easy, and requires time. until finally they use crypto to be the payment instrument

If the government of the country is made up of the majority of corrupt officials, then the country's policies are pursued accordingly.  In any case, the people do not get any benefits even from the use of cryptocurrency, since the government will do everything possible to rob a person even after the legalization of cryptocurrency.  The whole problem with the economy and social protection of citizens is primarily due to the corresponding government, which clearly needs to be changed.  In a country like Venezuela, it will be very difficult to use cryptocurrency, what did you do to stay incognito.

[rnsribeiro]

Hyperinflation is usually seen in countries where corruption is high and rulers do not care about the welfare of their citizens. Instead, they plunder their own country, selling its resources for small prices to more developed countries. The cure for hyperinflation is honest and loving rulers.

right, as divenezuela, where it was reported that corruption there was rampant, so the country became chaotic in its economic system. to overhaul governance is indeed not easy, and requires time. until finally they use crypto to be the payment instrument

I wonder if new crypto payment system in their country will solve existing problems.
I mean it is actually harder for corruption to exist in it, but its still possible.

[karanggatak]

in my opinion if third countries or poor countries do not sell their natural resources out of the country it will make the economy of third countries will get worse. and in my opinion what causes third countries to experience inflation is too much debt, the weakness of the national currency against the US dollar and too many imports and also many cases of corruption worsen the country's economy. in my opinion to prevent inflation a country must increase exports from imports and also reduce its debt.

[abhiseshakana]

I wonder if new crypto payment system in their country will solve existing problems.
I mean it is actually harder for corruption to exist in it, but its still possible.

For the case of Venezuela, the adoption of bitcoin and other cryptocurrencies is due to TINA (there is no alternative). Decades of Venezuela have often taken the policy of devaluing bolivars to turn the wheels of the economy.

But when America dropped a total economic embargo on Venezuela, this made cryptocurrency and bitcoin the only way out to protect the value of their assets. The question is whether the adoption of bitcoin brings improvements or solutions to the problems facing Venezuela. Is the adoption of bitcoin and crypto can be interpreted by resetting the system and return to zero. The answer is no.

Learning from the case of Venezuela, the government must be proactive to detect crises and find the root causes of crises and find a formula to avoid crises. even if they have been trapped in a wave towards crisis, at least they can make a formula so that the impact is not painful for the state, corporations, and citizens.

[abhiseshakana]

You can't blame the countries themselves in particular, but those running it for putting their own country on the ground. One of the recent events is the countries that fell into the Chinese debt trap that led China to control its own country's assets from their unpaid loans.

Do you mean that Zimbabwe has to adopt China's currency (Yuan) after failing to pay the debt to China?

If these countries are wise enough not to recognise China's terms, this would not really happen.

But on the one hand, only China offers help. The example of Zimbabwe was shunned by European countries due to human rights problems. The offer from China was immediately taken because at that time many mouths had to be fed and a starving stomach.

The Chinese strategy in Africa with the One Belt one road (OBOR) program is a duplication of American policy when siphoning China's national wealth assets when the US moved its industry to China in 1990 to 2000. But China modified its American strategy by making long-term binding so that Africa could not be separated from the grasp of China. America at that time forgot to bind China so that China did not depend on America but instead dared to challenge America.

China is carrying out massive infrastructure development in Africa, especially manufacturing that processes semi-finished goods into finished goods. Maybe for China and some people this is an exploitation. but for some Africans, despite the prejudice of exploitation, at least Chinese investment in Africa opens up opportunities for the wheels of the economy, which means that the opportunities for African people to get jobs are even greater.

Many underdeveloped countries are making mistakes by overprinting their own fiat currency in their process. If only the government is wise enough, they realise that printing more money is not the solution to anything.

I agree with you because it is in accordance with the Equation of exchange (https://en.wikipedia.org/wiki/Equation_of_exchange)

M x V = P x Q

M = Total Money Supply
V = Velocity of money
P = Price Level
Q = index of real expenditure


The equation above illustrates the relationship between the amount of money in circulation and the total expenditure of final goods and services produced by a country's economy. If the additional money supply is higher than the real GDP, the price level will generally rise

So the process of increasing the money supply will be better done when the economic level has increased so that there will still be a balance between the amount of money in circulation and the total value of goods/services.

[Wexlike]

You can't blame the countries themselves in particular, but those running it for putting their own country on the ground. One of the recent events is the countries that fell into the Chinese debt trap that led China to control its own country's assets from their unpaid loans. If these countries are wise enough not to recognise China's terms, this would not really happen. Many underdeveloped countries are making mistakes by overprinting their own fiat currency in their process. If only the government is wise enough, they realise that printing more money is not the solution to anything.

On the other hand, we have the new fiat money called "Eco" which is introduced by the following countries:

Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal and Togo

This money will be controlled by the ECB. So there is no place for China's interventions anymore.

[redsun114]

There are ways that the government can control inflation and the government of these developing countries should also apply those same methods to fight inflation, but the funny thing is that they wouldn’t, because they don’t care, they only care about their selfish needs and they are part of the problems that their countries are facing, those in power are corrupt. Apart from the government, the rich citizens are also part of it.

Anyway, the ways that they can control inflation is through monetary policy, control of money supply, wage controls and fiscal policy. But like I said, they are not interested.

[zeingrind777]

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

I agree. Economic inflation in a country is sometimes caused by their consumptive society buying imported goods rather than buying products from their own country. As a result, the value of their currencies will be weaker so that economic inflation occurs.

[andriarto]

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

I agree. Economic inflation in a country is sometimes caused by their consumptive society buying imported goods rather than buying products from their own country. As a result, the value of their currencies will be weaker so that economic inflation occurs.

perhaps because imported goods are cheaper than the products of the country itself, so that domestic products are not sold and business actors are in difficult circumstances, so they need more foreign currencies. different from countries that export their products, of course the demand for fiat currencies in the country increases and can reduce inflation

[Karmakid]

In my honest opinion, the inflation in the underdeveloped countries are just the same as the other developing countries. It doesn't matter if a country is underdeveloped, developing or developed country because it all depends on the president or the leader that manages the country. Even a country is still underdeveloped but the president is a great leader then they can climb up into top spots of progressing country.

[zeingrind777]

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

I agree. Economic inflation in a country is sometimes caused by their consumptive society buying imported goods rather than buying products from their own country. As a result, the value of their currencies will be weaker so that economic inflation occurs.

perhaps because imported goods are cheaper than the products of the country itself, so that domestic products are not sold and business actors are in difficult circumstances, so they need more foreign currencies. different from countries that export their products, of course the demand for fiat currencies in the country increases and can reduce inflation

It is true, the price of imported goods is always cheaper than local goods, but people should prioritize buying local products rather than imported products so that their country's economy can be more stable. And also the government in the country must provide full support for local producers including MSMEs.

[supercanada1]

Inflation occurs when the debt of their country mounting up and its same happening all over the world with no difference of developed or developing countries.Only way to reduce the inflation rate is to keep the economic steady so they no need to print more money to pay their debts.And also their economic should more depends on the export rather than importing in my opinion.

I agree. Economic inflation in a country is sometimes caused by their consumptive society buying imported goods rather than buying products from their own country. As a result, the value of their currencies will be weaker so that economic inflation occurs.

perhaps because imported goods are cheaper than the products of the country itself, so that domestic products are not sold and business actors are in difficult circumstances, so they need more foreign currencies. different from countries that export their products, of course the demand for fiat currencies in the country increases and can reduce inflation

It is true, the price of imported goods is always cheaper than local goods, but people should prioritize buying local products rather than imported products so that their country's economy can be more stable. And also the government in the country must provide full support for local producers including MSMEs.

One of the best way to make the economy of country stronger and stable is the promotion of its local products. Instead of importing things from other countries, under developed countries have to focus on the production and promotion of their own products. Governments should make the products of their own country easily accessible and purchasable for the citizens. This will make the economy of country stronger.

[deisik]

One of the best way to make the economy of country stronger and stable is the promotion of its local products. Instead of importing things from other countries, under developed countries have to focus on the production and promotion of their own products. Governments should make the products of their own country easily accessible and purchasable for the citizens. This will make the economy of country stronger

It doesn't work that way

In the modern world self-sufficiency (North Korea style) is a dead end. But you really don't need to be an Einstein to understand what makes the economy strong. The real way to get strong economically is to export something nobody else can produce but which everyone wants (e.g. the American dollar)

This gives you a competitive advantage, and if you have a lot of such goods, you are the king of the hood (in this case, of the whole world). Then you can choose among the bunch of producers whose goods you need to import, if at all. Put differently, export everything that is unique and import everything that is not

[abhiseshakana]

One of the best way to make the economy of country stronger and stable is the promotion of its local products. Instead of importing things from other countries, under developed countries have to focus on the production and promotion of their own products. Governments should make the products of their own country easily accessible and purchasable for the citizens. This will make the economy of country stronger

It doesn't work that way

In the modern world self-sufficiency (North Korea style) is a dead end. But you really don't need to be an Einstein to understand what makes the economy strong. The real way to get strong economically is to export something nobody else can produce but which everyone wants (e.g. the American dollar)

This gives you a competitive advantage, and if you have a lot of such goods, you are the king of the hood (in this case, of the whole world). Then you can choose among the bunch of producers whose goods you need to import, if at all. Put differently, export everything that is unique and import everything that is not

It will work.

Economic independence is the key to a country's progress and growth. Effective demand or the purchasing power of the people in the country must be the basis of economic growth. This means that the growth development strategy through equity or growth with equity-oriented domestically. The populace in the economic system emphasizes the importance of prioritizing the interests of the people and the livelihoods of many people, which is sourced from the people's sovereignty.

The truth is state development not development in a country. Poor and developing countries must consciously form a pattern of national production (pattern of production) based on domestic resources themselves. Avoid Manufacturing sectors that depend on foreign countries, become import-dependent. The high import contents in manufactured products, as evidence of the government not building an economy in accordance with our natural resources (resource-based), but there is the influence of the "import-business" skipper who has microeconomic interests, which often conflict with efforts to restructure the economy macro. Therefore, we still have to carefully distinguish between economic recovery efforts (the style of the IMF and neo-classical ones) and reformatory economic recovery (macro) which contains the aim of economic restructuring, namely overcoming structural imbalances.

Relying on state revenues from the export sector alone is disastrous, especially if there is a global economic slowdown and a weakening dollar. Domestic consumption but made into a country's macroeconomic fundamentals.

Poor countries do not want to only be a market for developed country products. There must be a joint movement for the benefit of citizens so that the economy can spin in poor countries. The views of developed countries towards poor countries are as follows: Poor countries do not mean they do not have the ability to buy. still have purchasing power, although it is weak compared to developing or developed countries. This country is what in the economic world is called the bottom of the pyramid (BOP). The amount is greater than developed countries.

With the consolidation of the bottom of the pyramid, poor countries can be independent. Action that can be done is to stop imports and start exploring domestic resources and capabilities. No need to grandiose to develop advanced infrastructure. It is enough to keep the money going in the country. As citizens, we can support government programs by loving and buying domestic products. Avoid shopping at supermarkets that are owned by foreigners. Always shopping at traditional markets around our area. So that money continues to revolve at the bottom of the pyramid, which in turn, prosperity and progress for the poor.

Learning from the American trade war against China, the ultimate goal is the independence of US manufacturing of Chinese products. Developed countries just try to be as independent as possible.

[TrevorS]

The issue is a lot more complex than most people might think. The first world countries perfected the art to pull the wool over third world countries heads, because they arrange trade agreements to favor them and they make sure that they extract as much raw resources as possible from these countries and then refine or manufacture goods from this raw material and then sell that at inflated prices back to those countries. <This offsets the import and exports between 1st world and 3rd world countries>

Some governments make bad political decisions and then 1st world countries would boycott them and this will hamper economic growth. The 3rd world countries are then forced to loan money to fund large infrastructure and development projects and the debt spiral will start pulling them down and they will start printing more money that would devalue their local currency.  

You are right this question is really more complicated than it looked initially. More developed countries have an extremely strong influence on less developed countries, which often have to dance to the tune of developed countries in order to maintain their economy at least at some level. Or for example, how the United States delivers products to Africa at low prices, completely killing the country's agricultural economy,
which is more expensive than buying cheap products from the United States. Thus, the United States provides its citizens with work depriving it of Africans.

[chip1994]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

the worse the trade, the more a country will not be able to develop and will soon be outdated. I think trade is very important for any country that wants to thrive. But what about countries with poor resources like those in Africa? I think they should be more focused on technology and decentralized markets, because they can get rich with their intelligence without producing anything. There are quite a few rich people who rely on crypto trading, it seems that underdeveloped countries need the crypto market.

[huige007]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

the worse the trade, the more a country will not be able to develop and will soon be outdated. I think trade is very important for any country that wants to thrive. But what about countries with poor resources like those in Africa? I think they should be more focused on technology and decentralized markets, because they can get rich with their intelligence without producing anything. There are quite a few rich people who rely on crypto trading, it seems that underdeveloped countries need the crypto market.

We should work on creating awareness among the people of underdeveloped countries about this development as it would be a huge advantage for them. Trading does not involve much effort it only need active participation. Let’s take initiative to help those who are in need do that they can also enjoy their life. If they will adopt this market it will surely benefit you also.

[GideonGono]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

the worse the trade, the more a country will not be able to develop and will soon be outdated. I think trade is very important for any country that wants to thrive. But what about countries with poor resources like those in Africa? I think they should be more focused on technology and decentralized markets, because they can get rich with their intelligence without producing anything. There are quite a few rich people who rely on crypto trading, it seems that underdeveloped countries need the crypto market.

We have a limited resources but unstoppable growth of population so that was too hard to develop an underdeveloped country without resources because they will rely on another country if they want to become successful. That was not easy to growth crypto in the whole world because not all person havent any access to technology. That's why we can't say that crypto can burn down fiat soon.

[HarmonyA]

Inflation in the underdeveloped countries isn't principally a financial marvel. It is brought about by auxiliary disequilibrium in the country's economy and must be constrained by guaranteeing similarity among the different basic components of the national expenditure.

As yield increases after some time it wil l be fundamental to extend the cash supply so as to evade deflation, First, as nationa salary expands the requirement for cash for exchanges purposes wil l increment.

Second, as the economy creates the non-adapted part wil l de-wrinkle and the size of the adapted part will build; this wil l require an additiona l extension of the cash supply. Third , as incomes ascend there is a propensity for money adjusts to increment quicker than the pace of increment of genuine pet capita pay, I e, the cash income proportion rises.
The comhination of these three elements isn't likely to bring about a noteworthy development of credit, yet any further increment in the cash supply will he inflationary.

[TrevorS]

It is ridiculous that many currencies of developing countries are backed by the dollar, while the dollar itself, at the moment, is not backed up by anything.
Thus, inflation in a developing country is inevitable because it is under the direct influence of another economic system and a different currency.
If a collapse of the supply currency occurs, the native currency collapses with it. In addition, prices are constantly rising due to inflation and constant dollar cash injections into the economy.

[mamahdedeh]

It is ridiculous that many currencies of developing countries are backed by the dollar, while the dollar itself, at the moment, is not backed up by anything.
Thus, inflation in a developing country is inevitable because it is under the direct influence of another economic system and a different currency.
If a collapse of the supply currency occurs, the native currency collapses with it. In addition, prices are constantly rising due to inflation and constant dollar cash injections into the economy.

The fact is that the United States of America has learned to maintain the price of its national currency at the expense of a strong army and through lending to different countries.  The fact is that the United States lends at interest in dollars, and also carries out various trade operations also in dollars, and also supports with its army, as well as with the dollar, those countries in which the army is absent or has little force.  I believe that as long as the United States takes a leading position in the world, the USD will successfully occupy the place where it is today.

right, that is what is happening right now, but now too many countries have started to become usd free. for undeveloped countries, they choose crypto for their currencies which are not affected by inflation. even so, this step is actually risky too

[Subbir]

I think the inclusion within the countries involved is typically thanks to inflation This inflation is that the same in every country. If the currency inflation of a rustic increases an equivalent effect is altogether countries. the most explanation for inflation is that the rise of the currency within the country i do not think it's fair responsible anyone for this If the extent of development goes up currency inflation rises and if commodity prices rise thanks to political reasons the currency surplus is increased further It affects the economy of the country.

[Vishnu.Reang]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

These things are very easy to say, but extremely difficult to implement. First of all, innovative technology is patented. The scientists and researchers from the developed nations have the patent to most of the technologies and the developing nations can't really steal them. They can develop their own substitutes, which some of the countries are already doing (China, India.etc).

[Questat]

Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

That's the right thing to do but no country can change immediately their current situation.

Underdeveloped countries has a bad economy and one reason is due to debt, their debt has balloon since they borrow money and not spending it accordingly. In underdeveloped countries also, there's a lot of corruption happening as people usually can easily be bribed especially those who are in the government position so that would not help for a country to grow since they are just basically serving their personal interest instead of the public. 

[deisik]

One of the best way to make the economy of country stronger and stable is the promotion of its local products. Instead of importing things from other countries, under developed countries have to focus on the production and promotion of their own products. Governments should make the products of their own country easily accessible and purchasable for the citizens. This will make the economy of country stronger

It doesn't work that way

In the modern world self-sufficiency (North Korea style) is a dead end. But you really don't need to be an Einstein to understand what makes the economy strong. The real way to get strong economically is to export something nobody else can produce but which everyone wants (e.g. the American dollar)

This gives you a competitive advantage, and if you have a lot of such goods, you are the king of the hood (in this case, of the whole world). Then you can choose among the bunch of producers whose goods you need to import, if at all. Put differently, export everything that is unique and import everything that is not

It will work

If it didn't work in the past, why should it start working now?

And you can't build a self-sufficient and competitive economy even in principle. For that, you would need highly qualified workforce, advanced technology and science in every possible field, as well as the whole gamut of natural resources by far exceeding those of any competitor. No country has that in their entirety, and ironically, most of that comes through competition (read, being open). Even China, with its huge population, lacks massively in a multitude of other important areas which prevent it from building a self-contained economy that would be competitive with open economies. They will have to compete with the whole world, and the world will just beat them with the raw power

And even if purely theoretically there were such a country, it would still be economically beneficial not to close or get closed in but to trade openly with your neighbors due to multiple effects of second and higher orders (for example, logistics). The Soviets tried to pull that trick off and they still failed miserably in the end. Mate, I have nothing against self-education (which feels to be the case here) but without a good book on economics describing all these ideas in greater detail, you may easily come to very strange conclusions like the one you draw here ("economic independence is the key to a country's progress and growth"). Progress and growth come through competition, and that is impossible without being open to the outside world

[Negotiation]

The world economy keeps crashing with many incidence of inflation. What is happening at the moment is  a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good  if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?

It is almost a common idea of inflation in the present world When money for the development of a country increases it becomes inflation. I think there is nothing to blame on anybody here no difference between developed and developing countries it leads to equal loss everywhere.

[tbterryboy]

You don't have to be a self-sufficient country but at the same time when you eliminate the corruption in the politics you could literally make ANY country in the world get better as well. I am not talking about something magical here, think about all the corruption and all the bad management by the politicians and remove them out of the question and you have a nation that is instantly better, how could a nation be any worse when you remove corruption?

It is impossible. With all of that gone and with more money and taxes used more properly you could definitely start to invest into farmers, than invest into factories that could use those farm products and start to sell to other nations. That is not being a self-sufficient country, you could still buy stuff from other nations but at least you will be in less of a debt.

Look at Germany, they have excess amount instead of a nation debt in the past 2 years. That is what nations should be aiming at, which is not impossible. Not being self-sufficient, but try to have less debt by removing corruption and using it for betterment.

[omone1]

Developed nations don't want underdeveloped nations to be really developed, they want underdeveloped nations to keep depending on them, this way developed nations make more money by flexing on their natural resources in return for aid as a bribe to ensure their leaders maintain the status quo. This world economy is not balance you need to be ruthless and clever to beat their game.

[Vishnu.Reang]

Developed nations don't want underdeveloped nations to be really developed, they want underdeveloped nations to keep depending on them, this way developed nations make more money by flexing on their natural resources in return for aid as a bribe to ensure their leaders maintain the status quo. This world economy is not balance you need to be ruthless and clever to beat their game.

It is true to a certain extent. The former colonial powers don't like strong leaders coming from the developing nations. Whenever such a leader emerge, they will try to topple him, or if that is not possible then they will finish him off. This has happened to people such as Thomas Sankara of Burkina Faso and Patrice Lumumba of the Democratic Republic of the Congo.

[deisik]

Developed nations don't want underdeveloped nations to be really developed, they want underdeveloped nations to keep depending on them, this way developed nations make more money by flexing on their natural resources in return for aid as a bribe to ensure their leaders maintain the status quo. This world economy is not balance you need to be ruthless and clever to beat their game

As they say, charity begins at home

Or everyone for himself (and devil take the hindmost), and it equally applies not just to men only but to entire nations as well, the meaning being that every nation must work independently toward their own success. So it is not like developed nations don't want underdeveloped nations to be developed or developing, it is just competition where no one really wants anyone else to be more developed than themselves

[Findingnemo]

Inflation in the developing countries results from poor ruling from their leaders and also they depend more on other countries for important needs but some countries outperformed the dependence by making demand for their products in the world's market.

Well, developed countries too have a high inflation rate sometimes.

[wozzek23]

Imagine that a country has oil and when they mine it they sell to other countries because they have no refineries. That means they will have to buy back the processed product such as fuel, kerosene and others from those same countries. How will such a grow? Lol. These are the kind of things that they need to be looking into, and others as well. Some of them have plenty good resources that they are yet to tap into and that’s causing them to fail.

But, if they should discover these resources and look into them, it’s going to help them go a long way in the development of their country.