Difficulties of rapidly developing countries

Difficulties of rapidly developing countries”

The rapid growth of the economies in the rapidly developing countries in the beginning of the century was due to the growth of the commodity market and the provision of credits, but it did not last long due to the lack of deep structural reforms. Soon the fate of almost all fast-growing countries has changed dramatically.

Russia and Brazil are experiencing a deep economic crisis, last year the GDP of these countries has decreased by 4% while inflation rose to double digits. South Africa almost does not develop. The remarkable growth of the Chinese economy has dropped to 7%.

On the background of stagnation citizens commodity market rapidly developing countries, many of them converted their profits in dollars, are likely to feel themselves poor. The government is also facing serious difficulties. Many rapidly developing countries have a big chance to get the debt crisis.

One of the main disadvantages of the rapidly developing countries is poor governance. In accordance with the index of perception of corruption, which publishes Transparency International, a non-governmental international organization for the fight against corruption and investigation of corruption around the world, South Africa is on the 61 place, Brazil, and India - on the 76th place, China - 83 place, Russia - on the 119. Poor management limits the country's ability to prosper and develop the industry.

People should get rid of the corrupt leaders. The democracy is necessary for them. Perhaps the change of power in Ukraine and Argentina, as well as the recent victory of the opposition party in the parliamentary elections in Venezuela will contribute to the development. Probably the next country will be Brazil.

Western countries should provide assistance in time. They should be an example for the whole world. We need to fight for values such as democracy, the rule of law and the market economy. 

International organizations are struggling to show its significance. In these circumstances, particular importance will have the world organizations that were started by the Western countries. The UN can not take any action because of the fact that Russia and China have used their veto power in the Security Council.

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