- Published: September 18, 2022
- Updated: September 18, 2022
- University / College: University of Ottawa
- Level: College Admission
- Language: English
- Downloads: 35
The chapter opens by reminding the reader on the explanation of the bottom billion, which is indicated in the previous chapters. Majority of these countries have undergone a series of civil wars while at the same time their regions are dominated by political ambitions toward the natural resources. Some of these countries have scarce resources which result from the country is landlocked. Bad governance also occasions these countries, which make their economic policies not to meet the required standards. The chapter indicates that these countries have had chances of making their lives better in the form of undergoing a step referred to as trap but they never utilized the opportunities presented to them.
There are those countries that have seized the opportunity to escape the trap but end up working hard to catch up with the other economies. The term’ catch up’ is explained to be the ‘ convergence’ by a specific country. Some countries sometimes take time to initiate the coverage. For instance, in the establishment of the European Union, the countries that were seen to be poor developed rapidly while the richest ones grew gradually. The chapter also highlights the manner in which the convergence might be influenced by globalization. The first influence has been realized through trade happens globally.