ECONOMIC GROWTH AFFECTING THE GAP BETWEEN DEVELOPED, DEVELOPING, AND UNDERDEVELOPED COUNTRIES

Abstract

There is global competition between developing countries as a result of increasing global economic growth. So that they can compete and contribute directly, developing countries must have the ability and innovation in running their own economic systems. Based on the criteria, countries are classified as developed, developing, or underdeveloped. The productive sector is usually owned by developed countries, which in turn contributes to the rate of global economic growth. Developed countries can improve themselves through the availability of adequate professional labor and technology. However, developing countries have weaknesses that cause them to experience difficulties in developing their economies. This is also supported by the lack of experienced workforce in natural resource management, which makes them unable to fully utilize their capabilities. Therefore, underdeveloped countries allow developed countries to work together to manage their natural resources. Effective natural resource management is not the only factor that influences a country's economic growth; This increase must also be supported by high quality human resources, who are able to provide solutions and innovation in every economic sector development that is produced.