Resource-rich countries often remain poor because they lack control over processing their raw materials; the real economic value lies in manufacturing and processing, not extraction, as demonstrated by Ghana exporting cocoa while Switzerland makes chocolate, and Zambia exporting copper while Europe produces finished products.
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Resource-rich… but still poor? Here’s why.Added:
Ever wondered why resourcerich countries stay poor? Ghana exports cocoa but Switzerland makes the chocolate. Zambia exports copper but Europe makes the finished products. Africa doesn't lack resources. What it lacks is control over processing. Because once you process, you keep the profit. You build industries. You gain power and that is the part the system resists. So think about it. Who really benefits from keeping countries as exporters?
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