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How can an LEDC become and MEDC?

Updated: 9/14/2023
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15y ago

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Consistent harvests (considering the fact that most LEDCs rely on the primary industry as a basis for their economy) which would require a lot of luck. Fewer floods and droughts would allow LEDCs to consistently sell their produce and in time raise their price, receive more money for their goods, and be able to start developing the raw materials they extract from the ground, and sell those for even more money. Also, this way, they wouldn't have to waste money on buying processed goods from MEDCs.

So basically, they would have to claw their way out of the primary industry which would result in much for the MEDCs. My colleague will explain what would happen to MEDCs

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15y ago
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Q: How can an LEDC become and MEDC?
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