There is an old saying that “There is no beggar who never had a king in his family and no king who never had a beggar in his family. “ The saying is very much valid in the present times as far as the conditions that are prevalent in the developing countries are concerned. The history of the developed world and the ways and means that they used in order to get rich is known to everybody. Till a century back the majority of the western countries had colonized the rest of the world and gained wealth through the unfair means of plunder and booty. The countries like the Great Britain, France and to some extent the Portugal and Spain had colonized the majority of the nations in the continents of Asia, Africa and the America. The plunder of the natural resources of these nations by their rulers led to a complete imbalance between the wealth of the rulers and the ones that were being ruled. The irony is that the imperialists did not use the wealth that they amassed from the countries they ruled to develop these countries. Rather they used this wealth in order to make sure that their coffers would keep flowing with wealth.
The result of all this is that the now in the present times there is a huge financial chasm between the developed and the developing world. While the developed world is fighting to shake off the financial problems that they are facing that are of their own making the developing countries are still struggling to get their fundamentals right. The countries like the India, China, and Brazil are going through a phase where although they are financially stable but they still have to overcome the debacles that they faced during the times of the colonization. The things like poverty, bad infrastructure, and poor health care systems are the issues that they are still struggling with.
The other major negative result of the colonization is the disputed boundaries of the developing nations. As long as the colonizers were ruling these countries they were only interested in aggrandizing their territory. But after the collapse of the imperialism, the nations that were being ruled by them are still struggling to get their boundaries right. The nations like India and Pakistan have already fought three wars over the disputed lands, the perennial conflict that we see in the Middle East between the Arab world and the Israel is still unresolved, and the war strife countries in Africa have receded into the ancient times of extreme poverty and barbarism. All of these territorial conflicts are a legacy of the times of colonization. The result is that these nations invest heavily on their defense while condoning the other important sectors like the health and education.
The problems that the developing countries and the underdeveloped countries are facing are the ones that are the progeny of the times of colonization and imperialism. But the question that the world is asking is that how can the situation be improved in the developing countries. They cannot get rich in the manner the so called developed countries did. The only way in which the developing countries can grow and sustain a healthy finance is through investing their budget positively and constructively. They have to make sure that the old disputes are resolved without the use of arms that would lead to bigger investment in the other sectors like the education.
The methods that the countries like India and China are using can be seen as a way forward. They are striving to improve their financial situation by becoming the service economies. The rise of the Information technology and the concept of globalization have come as a blessing for these countries. All that they need to do is to make sure that in order to rub shoulders with the other powerful economies in the world they would have to invest wisely and think constructively.
People like Guy Oppenheim have realized this fact and already have big plans for improving the economies of the developing world. Guy Oppenheim is the Chairman of the Oppenheim Group with over 25 years’ experience as a portfolio manager, investing globally in all asset classes. He has a vision for the world of finance that is constructive and creative in tenor.