Topic: Adapting to the world's changing Economy - page 3. (Read 649 times)

I completely agree with your observation that the universe is constantly moving and changing. Just like humans have gone through many changes. Our approach has been shaped by technological, economic, and social developments. Countries that have embraced and embraced this change, such as the United States and China, have embraced this change. Be able to position yourself as a global leader their ability to adapt Invest in new technology and embrace new economic models This gives them a huge advantage in shaping the global economy.

Like in Africa its crucial to keep up the pace. Those countries that will continue living within old practices and have not welcomed new innovations like artificial intelligence or the digital economy will have a chance of getting left behind. The gap between countries "Living in the future" and "Living in the future" really exist. This is the outcome of uncertainty or unavailability to create and develop opportunities.

The success of today's economists can be traced back to their decisions to invest in education. Infrastructure and technology after major world changes such as World War II If developing countries follow the same strategic investment path in technology, education and innovation, They too can change their ways and be able to compete on the global stage. It is the realization that the future has arrived. and make a conscious effort to adapt to the future.



Actually, you're right. The world moves forward And history shows us that those who don't adapt to new successes succeed. Often left behind Individuals not only need to receive the latest news. But society as a whole still needs to develop. Just as humans must continually evolve and learn to stay relevant, so must countries. In today's digital age Ability to produce and create new things Domestically, it is of great importance to the country's global standing.

Look at the world's leading economies; they have the best investment in technology, education, and infrastructure. All this gets them access and influence among other developing countries. especially in Africa there is a need to recognize this and move forward by embracing innovation and technological developments or else they risk being overly dependent on imports and falling behind. It is not only a matter of economic survival. It has also placed itself as player in the future global economy.

That is to say, it is not only a step in advancing. It's also a process of determining one's own future. As such, precisely the same thing that happened in the United States And China did after World War II. If those countries No actions are being taken today. They will have difficulty competing in an increasingly digital automated world.

The gospel truth is that the world and everything therein are like stages; it moves from one stage to another. That is to say, old and new advances as time passes. What you find to be at the top years ago, can be replaced by some other thing stronger than her tomorrow. That's why we humans need to stay updated in learning new learning things so that we will not be left out as everything within us is advancing into a total digitalization era. So as countries. Countries are not left out in all this because countries need to equip themselves economically, and technologically in making and producing their things in large quantities for their citizens and the world at large; so that other countries do not look down on them as countries that can't produce anything on their own but dependent on import goods.

Yes right, Europe countries do not want progress of any other country of World and especially they want to eliminate the Muslims and they are opposite of Muslims and they are providing weapons to the Israel to kill the Muslims of Phalasteen and their wives ,their child  and their animals. Now market situation is dumping and Iran is taking against that because non Muslims always claim to do justice but they promote cruelty. But that should be change and future will be worse than today because one today there will be War and they will be distruction and we will see high impact on that on economy of World.

If I tell the truth our government has a hand in this because when there is a war between two countries which causes a lot of destruction and loss, many people also die, which destroys the economy.  If you see in earlier times there was a period of very low inflation, but then their earnings were calculate accordingly.  In today era, if something is getting more expensive it has the share of the government and also of people like us.  Because many people quote high price even if they keep their profit.  The real reason is the tax, which leads people to unemployment, but it does not benefit us.  If the government does not control it it will be a big loss for them because if the people stop worrying about the government, they will only lose.

Truth be told the world is going on an economic collapse and this is not only felt in the under developed countries but even in the developing countries. $100k of 20 years ago is not the same as $100k now, getting a house years ago was easier than now, poverty and unemployment rates has all increased compared to now.

Years ago you could depend on the government for work and survive on the pay but with the worthless currency and choking taxes you can barely depend on the government for anything. How I have chosen to navigate this economy times is try to build my skills and sell what I can offer.

Psychology has made us to understand that human beings can adapt to any situation, so economically even when things are changing and powers are shifted to a certain domain, humans tries shift along, change they say is constant, so it's a constant trajectory of the human race.

The African youths are aligning themselves with the current changes of economy across the globe, a lot of them are into tech and other innovative and creative sectors that are economically driven, they've mostly left behind the political leaders that have tried to strangulate them with orthodox policies. the orthodox way of doing things allows fraudulent activities and opaque operational system which they are very comfortable with.
U.S, China and the entire Europe are economically viable today because they've been able to accept new ideas and innovations that allows for growth in terms of economy, they've built strong institutions that regulate revenue generation with ease.

USA became strong and rich because for the first part of their history they had a huge land they profited from and sold their crops to whole world making money hand over fist, and used that money to industrialize and sold cars to whole world to once again dominate the world market. Only after 60's when the Europe recovered from war, and other nations started to grow, we started to see other nations finally start to compete with America, for nearly 200 years they figured out ways to be richer than everyone else by just building more and selling more.

Nowadays they are still stronger than everyone else economically, but they are making their people homeless and drug addicts if the yare poor, in order to keep the macro economy looking strong. China is another story, they literally let tens of millions of people die of starvation to grow, and then they ended up using their population as slaves to manufacture to the world, both of which allowed them to get rich.

Well, it's not like Africans don't want to adapt to the changing economy for better, but one thing needs to be noted, that leadership goes a long way in helping a country adapt to economic evolution. By the time a country's government is selfish to hold resources and not invest in the citizens or the country at large, then changing with the economy of the world will be slow.

Imagine a country where there is no good infrastructure, no good education to train the young ones, where the leaders of tomorrow are being forced into hardship, and the elderly that are supposed to step down from places of position are still occupying. Not like underdeveloped countries don't know what economic evolution is or how to hop in, but certain leaders, are just making this evolution harder than it's supposed to be.

So, evolution needs to start from human beings, the government needs to come to care about people. Because in certain African countries, individuals are now going out of their way to be the evolution in their community, if the government will not. Hence, it is still slow progress because it's supposed to be a collective effort between the government and the people. So, the economic evolution is well known, but it needs certain capacity and resources to be carried out, especially in Africa, which is being influenced negatively by poor leadership.

Most backward African Countries today has the resources and  capacities to fix its economy problems but their major challenges lies on monopolies especially when they have been tied by their colonists having uninterruptible derivations on the economy decision making.
Let me tell you, the Europeans and American colonies fears to give African the privilege to explore in its respective countries as they could because they do not want to see the African continent ahead of them.
Africans leaders knows becomes answerable to the foreigners because they are lightly being manipulated in their geopolitical places.

True. There are countries that are still backwards in terms of developmental structure, thier exposure to technology and the retarded pace of her economy which are all a function of thier inability to be open minded in terms of embracing the kind of change the world has witnessed.

The US, China, Russia and all the other big nations that have developed tremendously didn't just do that because they wanted to adapt to any system. They did that because they were able to  understand how the world works and put out effort to position themselves at the top by becoming thier own competition. The USA wants are educational system to be better than that if China and China wants same. All of them are arriving to be the best innovative country and that in turn causes them to outgrow other nation that's relaxing and that's not putting out any effort to ensure that they equally grow and become relevant like the countries at the top.

It is the indecision of the stagnated country that made them remain the way they are while the proactivenes of the countries that aiming for the top has helped them to continue growing and advancing in almost all areas.

For a country to thrive it first needs wise people and secondly it needs wise decision makers who collectively make the correct decisions at key times without wasting any opportunities. China did it best. They took advantage of the global conflict (World War 3 aka the Cold War) and expanded its economy and in a couple of decades became the strongest economy.
US did it the worst way by abusing the WW2 destruction to become dominating power and then they started lots of wars and destructions that has been pulling US down (hint: 35 trillion dollars of debt).

Right now the best decision any nation can make in my opinion, is to join the BRICS and help it get stronger, and more determined to make serious decisions such as to dedollarize because when the collapse of US economy occurs, it will take down everyone. Countries that rely on the dollar the most will suffer the most.

True, countries have to be responsive to emergent technologies like AI if they are to compete, but IMO just following any trends will not get any country any good. Most African economies do quite well in leveraging AI in focused areas such as agriculture, finance, and governance. Kenya, Egypt, and Mauritius have already adopted national AI strategies and thus helped push innovation across all sectors.

Of course, it is not a matter of racing for every new technology either. One is bound to be circumspect about serious pitfalls that could displace jobs and cause economic inequality in countries at a nascent stage of development in respect of their labor markets. While adaptation is the key, it is equally important for countries to balance their progress with ethical consideration and policy on inclusive growth.

I would just like to clarify, USA was already emerging even before WWII. US was one of the earliest adapters of industrialization. Even before the war, factories and different machineries already were on the rise in the country. It is one of the biggest economies back then with UK, Germany, USSR, and Japan. China though I would agree that they were not as big as they are now. They natured the nickname of a sleeping giant because its potential was not really realized or maximized yet until the 1970s.

One thing that you seem to overlook when describing the countries doing strongest economically - it is capitalism, or more specifically, reasonably well regulated capitalism, that has allowed them to prosper so much. It is one thing to have a good idea, but to turn that idea into success you need many things - a good education system (to train you and others), a strong legal system that will protect everyone relatively equally, infrastructure, a government that can defend the country but is not overly antagonistic to neighbors and ideally many other public services in between. In some countries like China, you have pieces of those but the opaque and erratic style of rule makes it hard to plan for the long term.

Why countries like the US, China or Russia can advance rapidly in the world economy is because they do not forget where they come from, uphold principles and culture, defend their homeland, even in the midst of sophisticated technology and modernity they know the results must return to their own country. Not only in terms of wealth, they also trigger chaos in various underdeveloped countries, seize natural resources, instill a contradictory way of life to control the next generation. Not a few also interfere in other countries' wars, offer peace while doing arms business.

All that has passed and now we are in an era where every country should be able to develop more advanced, manage available natural resources, do business with foreign countries. However apart from this cooperation, remember that a developed country is a country that is able to stand on its own land and cannot be dictated by other countries. Just look at the US, China or Russia, is there anyone who dictates them? no one,  so that they are able to advance to become rulers in all financial sectors.

The world where we live in is a dynamic place, that means things are not ment to be static instead they are ment to be changing overtime. Infact we where told that man has undergone so many stages of evolution before getting to where we are as homosapiens.

 It's also like that with the world that we find our self as the world has undergone different stages from the time's of the stone age to that of slave trade, and to that of the industrial age where artificial intelligence has taken over every sector of the world Economies.
There's need for developing Economies like those of Africa to adapt and embrace this economic evolution that is going on currently as any country currently holding on to the orthodox way of doing things has been left behind.

Infact I have come to the realization that there are currently countries who are living in the future and there are also countries who are also living behind time because they have failed to embrace change and move on with the ever changing world.

Looking at the world leading Economies like the united state of America, China etc who where not known economically and Technically before the second world war how did they emerge as world leading Economies that their policies at home affect others parts of the world it's simply because they adapted to the world that was changing around them and decided to make investment in that light and today they are reaping the fruits of their labour