Reasons why many developing countries have lagged behind in industrialization.
Industrialization in the third world countries.- The term ‘Third world’ refers to developing nations of Africa, Asia and South America.- Most of them are former colonies of European powers and their resources were used to develop the mothercountries during the colonial period.Reasons why many developing countries have lagged behind in industrialization.(i) Long periods of colonization relegated them to the role of suppliers of raw materials and asmarkets for industrial goods from developed nations at the expense of their own industries.(ii) Poor transport and communication systems has undermined industrialization since raw materials andmanufactured goods cannot be transported to their various destinations.(iii) Inadequate capital. Most of the third world countries have poor agricultural-based economies which cannot supportmeaningful industrialization.(iv) Poor technology. The use of appropriate technology in third world countries is lagging behind and this hampers exploitation of natural resources and manufacturing of goods.(v) Many developing countries face stiff completion from the industrialized nations that produce high quality products and have an advanced marketing system for their goods.(vi) High levels of illiteracy among majority of the population in developing countries leads to lack of technical and scientific skills necessary for industrial take –off.(vii) The protectionist policies adopted by developing countries have discouraged private enterprises and foreign investment.- Policies like nationalization and imposition of import duties discourage investors in many countries.(viii) High levels of poverty in third world countries mean low domestic market. Governments also spent most of their resources to provide for the basic needs of their citizens at the expense of industrialization.