Question

How did dependence on colonial rulers affect economic progress in the developing world?

Answer 1

Answer:

• Through heavy borrowings from foreign banks

•Developing wold economic depend on world demand for their product

• Over reliance on technology, investment and food from the western nation.

Explanation:

Most developing world sells their agricultural produce and basic raw materials to the western world and receive technology, food and investment in return thus affect their economic progress.

The economy of developing world are also dependent on world demand for their produce because most of these produce are crops related which needs to be further processed.

Developing world are heavy borrowers. They borrow too much from the western world which are often times misappropriated. Most of these borrowing are to be paid installmentally as agreed for years which will ultimately affect the progress of unborn children in the affected world.