What brings economy of a country down. - page 2.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: gbrendeh on August 23, 2020, 11:00:12 PM

Corruption is the major cause with bad governance. When we have a leader that is selfish and dictatorship, the economy will suffer.

Indeed and this happens to many countries now specially Asia and Africa in which too many corrupt officials and authorities.
Lucky that we havea Functional and strict president now thats why the control of these kind of bad activities in government is lessening now and sooner they will gone .
Another thing is mismanagement and this happens sometimes when the opposition is bugging the administration badly.

Ecito

newbie

Activity: 14

Merit: 0

In my opinion, the cause of the economic downturn in a country is the price sector of the country's currency and trade in the market sector because this may be the effect that most rapidly affects the country's economy down or up.

Paycoinzzz

hero member

Activity: 994

Merit: 503

it's just one way of making a nation's economy go down. Much will depend on the consciousness of the people and the government. In America, I value President Trump more than Obama from an economic perspective.
Trump has done a great job when people in America now do not enjoy social security as well as before, everyone has to pay the price for adhering to the great human rights regime that Obama has proposed. he is making the American economy great again and completely overwhelming countries that affect American businesses.
In contrast, for Obama, he always appreciated human rights and that made people more lazy and a lot of beggars were "born" at that time. That will make the economy go down seriously because of the lack of manpower and talent.
P/s: This is just my personal opinion, looking forward to receiving your comments.

gbrendeh

jr. member

Activity: 172

Merit: 1

Corruption is the major cause with bad governance. When we have a leader that is selfish and dictatorship, the economy will suffer.

Hemady17

member

Activity: 505

Merit: 35

Corrupt Government Officials are the one that brought the economy of a country down. I believe that all of countries has an edge regarding with the resources that they have. It just on how the people really spend and utilize the resources. The poor government and unstoppable corruption and graft create a chaos to the economy. This why there are still underdeveloped countries. Mostly, government is the reason why they are poor up until now.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Diversification is not really needed for a country's economy to grow there are lot of developed countries in the world who made this possible from particular natural resources or some kind of products manufacturing.But for the country without much natural resources they need to create the opportunities along with the population rate or else there will be Chaos in that country amd their economy could fall down.

yulchatar

full member

Activity: 910

Merit: 100

Quote from: mezzaluna on August 21, 2020, 11:15:20 AM

There can be a lot of factors on how an economy of a country plunge into depression. The lack of availability of jobs which render most people jobless. The jobless people who cannot contribute to the tax and damage some of the government properties that can withhold the economy. The corruption within government sectors can also damage the economic status of a country.

The fall in the global economy in 2020 was the bigest in the past few decades. And jobs have been hit hardest by the crisis. The global problem of unemployment has become very acute, and very soon it can lead to a record increase in the number of people living below the poverty line - their number will increase by 500 million people.

Btczhageh

jr. member

Activity: 61

Merit: 6

Quote from: Xembin on August 21, 2020, 10:18:38 AM

Many countries experience down fall economy during the pandemic. Most of the things bring economy down in a country:
1) Education: Many country fail to educate their people how to expand , and grow economy.
2) management: if you fail to manage your resources well can cause economy down fail.
3) Government strategy: if strategy fail in a country the government would experience change in their economy.

Countries with s/n (2) will definitely end their country economy in shackles. Countries with huge resources like oil has failed their countrysidemen because they lack judicious use of their economy resources. During the novel coronavirus pandemic, most countries that hugely depends on oil got a bad experienced of the downtrend of the oil crashed and many are yet to get out of their pitfalls. Oil fell during this Period has explicitly explained the use of professional managerial skills towards national resources. Any country without good leadership toward management of resources can't forge ahead with others, as such, diversification of country economy should be Paramount to any country leadership with priority to their citizens welfarism.

mezzaluna

member

Activity: 518

Merit: 23

★Bitvest.io★ Play Plinko or Invest!

There can be a lot of factors on how an economy of a country plunge into depression. The lack of availability of jobs which render most people jobless. The jobless people who cannot contribute to the tax and damage some of the government properties that can withhold the economy. The corruption within government sectors can also damage the economic status of a country.

Xembin

jr. member

Activity: 84

Merit: 3

Many countries experience down fall economy during the pandemic. Most of the things bring economy down in a country:
1) Education: Many country fail to educate their people how to expand , and grow economy.
2) management: if you fail to manage your resources well can cause economy down fail.
3) Government strategy: if strategy fail in a country the government would experience change in their economy.

AicecreaME

sr. member

Activity: 2436

Merit: 455

Quote from: bittraffic on June 12, 2020, 12:01:07 PM

COVID19 had brought country's economy down. Lips sealed

Some countries are dependent on their oil exportation which their economy will run smoothly and some have a booming economy because they are heavily industrialized like China. Taking that out from them, then they'd be crippled. A city like Las Vegas' economy is dependent on tourism, due to Covid19, they are helpless which is why they have to make it work and open casinos despite the risk.

The pandemic indeed brought each countries economy down.

Due to lockdowns and quarantines, many businesses and companies closed, the unemployment rate rapidly increased, industrial production had a hard time operating, that's why majority of the countries faced economic decline.

Like the countries you stated that are heavily relying on certain aspects such as tourism, global trading, commodities exportations, and overseas workers income are sevely impacted by the covid-19 outbreak.

That's why economic diversification strategy is really much needed in each and every country. Multiple sources of income must be generated to devolep and boost the economy as well for it to recover, to avoid majority from falling into unemployment and poverty line.

chikading2016

member

Activity: 949

Merit: 48

We need to study economic because we are a part of it, we are a part of the economy in our country and studying economy is really important for us to learn or to know on how economy rise or maybe fall, we need to know what are the causes of the movement of the economy status and how economy affect our life if it will fall.

Janation

hero member

Activity: 1722

Merit: 528

Quote from: Axelseseclevz on July 31, 2020, 12:25:56 PM

Quote from: perfect999 on July 31, 2020, 11:35:15 AM

Quote from: Alert31 on July 25, 2020, 12:37:43 PM

I think the primary reason why economy going down because of corruption. Next is because of unexpected pandemic like Covid19 virus that caused a worst effect to our economy and to the life of everyone.

A lot of people say that the economy is going down because of the pandemic and the urgent chaos created because of it but we need to understand that the economy must be flexible and strong enough to overcome such crisis. I mean how did China recover so fast from Corona virus when they were the one who were hit the hardest and first one to face it? That's because they had a solid system and created facilities like opening hospitals providing necessities to people at their home.

While other Asian countries like India failed miserably because of not having an economic structure strong enough to face such situations.

China recover very fast from this covid 19 pandemic because i believed they knew the cure for this virus. It begun to their country and said to their laboratory ,so it means , if they created this virus for whatever purposes then of course they know how to kill this virus and how to treat their patients. That's why they only have a few deaths and a lot was recovered immediately compared to other countries that doesn't know how to treat this and how to prevent it from spreading.

Could we say the same for those people that actually stopped the virus without the vaccine?

Could we say that they are also conspiring with China, right? No. Every country is affected by this pandemic and you may hate China for it but they did well, there are those that can't handle the virus and you should blame them for that, not China. We are also done with this speculations, these conspiracies, what we have now is a vaccine and we don't know how will it affect these people with the virus.

AjithBtc

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

Quote from: abhiseshakana on August 01, 2020, 10:57:49 PM

Quote from: perfect999 on July 31, 2020, 11:35:15 AM

A lot of people say that the economy is going down because of the pandemic and the urgent chaos created because of it but we need to understand that the economy must be flexible and strong enough to overcome such crisis. I mean how did China recover so fast from Corona virus when they were the one who were hit the hardest and first one to face it? That's because they had a solid system and created facilities like opening hospitals providing necessities to people at their home.

While other Asian countries like India failed miserably because of not having an economic structure strong enough to face such situations.

China's success in managing a pandemic is inseparable from previous experience with the bird flu pandemic to be used as a reference, the construction of prefabricated buildings for hospitals. China is the center of world manufacturing, besides that the majority of entrepreneurs are members of the Chinese communist party, making it easy for the government to mobilize entrepreneurs. China combines technology, management, and leadership in handling corona.

In addition, China has a money-based printing instrument on a project that makes handling corona faster and more effective. China is one of the countries that broke international rules. China imitates America not following America as a world hegemon. From imitating China into a skilled country.

Proper usage of technology and the effective managing ability, ans the experience with the previous Flu is the true reason for the fast recovery. Another thing, we don't know what is happening within the country. Nothing is revealed to the outer world. As said they're good in creating entrepreneurs, whereas India doesn't pay path for it. Even when one is able, he'll be pushed down for political reasons and corrupt hands won't allow to grow in a short.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: GeorgeJohn on June 12, 2020, 10:02:19 AM

Economy of some country fall due to they channel their economy in one area,what brings economy down is base on focusing in one particular sector not to be diversified in different sectors, so when that particular product fails to thread in market the way it's before, such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country management,
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of the sector shutdown another will pick up.

There are basically two type of factors that could affect an economy. First could be the avoidable or man made factors I would say and others would be unavoidable factors. First one are the more prominent ones and they include lack of proper fiscal management by government and useless spending. Also other types of political instabilities can also be cause of such a economic slow down. Second one are the natural reasons which means the cyclic patterns of the Economy of boom, depression, revival and growth. However there are certain unavoidable factors like the COVID which was pretty much unexpected hit for every economy and several other natural calamities you can say.

lixer

hero member

Activity: 2688

Merit: 588

Quote from: GeorgeJohn on June 12, 2020, 10:02:19 AM

Economy of some country fall due to they channel their economy in one area,what brings economy down is base on focusing in one particular sector not to be diversified in different sectors, so when that particular product fails to thread in market the way it's before, such country will be shortage of economy and the life of the people will be in danger base on things is moving wrongly to the country management,
And the way a country can be free from falling of economy is to spread their economy or diversified economy so that when one of the sector shutdown another will pick up.

The number one thing is bad government, let’s leave all these long talks, like seriously. You all can look at these developing countries as an example, how their government is not doing what they are meant to do and bringing their countries down, and development is stuck in these countries, it makes me wonder if they are ever going to be developed.

It’s only when you have a good government that you will be talking about other ways that you can develop the country’s economy, if not that, then everything is probably a waste of time. Though I am not trying to say other comments are wrong, but the main issue that needs to be tackled is the government, when they are doing the right thing, things gets better.

Emitdama

sr. member

Activity: 1914

Merit: 328

Quote from: enhu on August 18, 2020, 11:42:41 AM

The kind of government has a lot to do when the economy succeeds or fails. When your government asks too much taxes from the companies doing business in the country and the labor cost is higher than of China, these companies will move to China or any other country like Indonesia or India where labor cost will be much lower and the taxes are enough for the companies to profit.

Also there are countries who do not imply any tax on their citizens like Dubai is a tax free economy so anyone who wishes to startup a new business will always prefer such economies and cheap workers can be found from the migrants to the country.

I feel government plays the biggest role for the rise or fall of any economy because they can make the taxes that encourage new businesses or they can imply so many taxes that people move out to start their business. I see that resources also play an important role because you always want to setup industries in an area that is rich of resources and you get those resources with minimal travel and labor cost. And industries are the biggest contributors to any economic structure.

enhu

legendary

Activity: 2492

Merit: 1018

The kind of government has a lot to do when the economy succeeds or fails. When your government asks too much taxes from the companies doing business in the country and the labor cost is higher than of China, these companies will move to China or any other country like Indonesia or India where labor cost will be much lower and the taxes are enough for the companies to profit.

Ecito

newbie

Activity: 14

Merit: 0

In my opinion, what experiences the economy of a country is from the head of state down to the community and how the response of the people is, the economy also shows how the country develops and progresses depending on its people and how to cultivate the urban order so that the economy in that country can progress rapidly.

abhiseshakana

legendary

Activity: 2254

Merit: 2253

From Zero to 2 times Self-Made Legendary

Quote from: perfect999 on July 31, 2020, 11:35:15 AM

A lot of people say that the economy is going down because of the pandemic and the urgent chaos created because of it but we need to understand that the economy must be flexible and strong enough to overcome such crisis. I mean how did China recover so fast from Corona virus when they were the one who were hit the hardest and first one to face it? That's because they had a solid system and created facilities like opening hospitals providing necessities to people at their home.

While other Asian countries like India failed miserably because of not having an economic structure strong enough to face such situations.

China's success in managing a pandemic is inseparable from previous experience with the bird flu pandemic to be used as a reference, the construction of prefabricated buildings for hospitals. China is the center of world manufacturing, besides that the majority of entrepreneurs are members of the Chinese communist party, making it easy for the government to mobilize entrepreneurs. China combines technology, management, and leadership in handling corona.

In addition, China has a money-based printing instrument on a project that makes handling corona faster and more effective. China is one of the countries that broke international rules. China imitates America not following America as a world hegemon. From imitating China into a skilled country.

Topic: What brings economy of a country down. - page 2. (Read 1685 times)