How economic development in the global south nations can be better managed

Quote In a world where advances in technology and ease of travel are continually eroding national boundaries, global health problems can rise up swiftly, threatening the lives and prosperity of vast populations. Throughout the developing world, infectious disease and chronic illnesses confront more than one billion living in poverty.

How economic development in the global south nations can be better managed

How economic development in the global south nations can be better managed

ABSTRACT In the pursuit of a more secure, stable and sustainable world, developing countries seek to enhance their human, institutional and infrastructure capacity. To do so they need a solid base of technologically prepared people to effectively improve their economies and quality of life.

Such a base will facilitate the infusion of foreign capital through attraction of multinational companies to invest in the developing country, assist in making the most of foreign aid funds, and provide a basis for business development by local entrepreneurs.

Teach a person to fish: Economic development for developing countries can be effectively stimulated by building the technical capacity of their workforce, through quality engineering education programs. A competent technical workforce base can then provide several paths to economic development: Capacity building can be defined as follows: Capacity building is a dedication to the strengthening of economies, governments, institutions and individuals through education, training, mentoring, and the infusion of resources.

Capacity building aims at developing secure, stable, and sustainable structures, systems and organizations, with a particular emphasis on using motivation and inspiration for people to improve their lives. In the global economy of the 21st Century, engineers play a key role in overall economic development for countries and regions.

In the well developed countries, the role of the engineer is well understood and utilized.

How economic development in the global south nations can be better managed

In much of the developing world, however, the available pool of engineering talent is typically below critical mass — and economic development and even important basic societal needs that rely on engineering — such as clean water supply and sanitation — lack the technical talent to address them.

Technical capacity building efforts aim at developing a sufficient pool of well educated and certified engineering graduates in developing countries to effect three desirable outcomes: He argues that there are two areas that can likely lead to the desired economic growth in developing countries, and can lead them toward economic self sufficiency: The building of indigenous pools of people with quality educations in science, technology, and engineering can help lead to economic growth and healthy economies.

North–South divide - Wikipedia

One need only look at examples from India and South Korea to see the effect of concerted efforts to enhance the education of engineers and technology graduates on the economies of these two countries.

In South Korea had about 6, engineering graduates. In these were increased to 14, Bythe figure had jumped to about 80, This data appears to show a direct cause and effect — investment in building a well qualified and sufficiently large pool of engineers leads to sustainable economic development.

In the case of India there has been a long-term effort to increase the numbers of engineering graduates and the quality of their education. Whereas in the past, many of these graduates sought employment outside the country, now many are returning and newer graduates are staying to work in India in the software and design industries, often to high-tech cities where well-paying careers and extensive numbers of colleagues await them.

The report opens with the statement: It must be recognized that there will be some leakage of these graduates to jobs in developed countries, but many will choose to stay where family ties and native country culture provide a comfortable environment. But the basic need is the creation of good jobs in the home country.

This is a chicken-and-egg issue. Increased demand for engineers will result only when there is a sufficient pool of well qualified graduates to attract direct foreign investment, multinational corporation operations, offshore outsourcing from developed countries, and entrepreneurial startups.

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Developing country planners and government officials must pursue effective economic development and job generation strategies in parallel with making the needed investments to enhance the quality and quantity of engineering graduates.

Engineering education in developing countries should include significant coverage of entrepreneurship — how to start, operate, and grow a small business. Note that US companies such as Hewlett-Packard, Microsoft, and Yahoo all were started in garages by enterprising young people with a technical bent.Generally, definitions of the Global North include the United States, Canada, Europe, developed parts of Asia (the Four Asian Tigers, Hong Kong, Singapore, South Korea and Taiwan) as well as Australia and New Zealand.

[citation needed] The Global South is made up of Africa, Latin America, and developing Asia including the Middle East. SSA as in most other low- and middle-income countries. LED can thus be considered as a Local Economic Development as an alternative approach to economic development in Sub-Saharan Africa, 4 strategically-planned LED.

First of all, traditional development strategies have tended to rather than participation in the global economy. In a world where advances in technology and ease of travel are continually eroding national boundaries, global health problems can rise up swiftly, threatening the lives and prosperity of vast.

global income distribution often use the labels North and South to refer to the rich and the poor nations, respectively. The consequences of low income levels can be severe. The low- or middle-income trap phenomenon has been widely studied in recent years. Although economic growth during the postwar period has lifted many low-income economies from poverty to a middle-income level and other economies to even higher levels of income, very few countries .

Achieving Sustainable Development and Promoting Development Cooperation– Dialogues at the ECOSOC iii DESA The Department of Economic and Social Affairs of the United Nations Secretariat is.

COUNTRIES TO PROMOTE ECONOMIC DEVELOPMENT