Describe Some Positive Effects Of Capitalism In Developing Countries

Other countries like India and Philippines have also embraced the American thought of capitalist economy . After years of wallowing in poverty India know that it had to attract foreign investors who possess the technical capacity and competence in area commerce , manufacturing , real estate , among others (Lippit , 2005 ,.84 . In its effort to attract investors , the government of India is currently spending billions of dollars in infrastructures , thereby creating more jobs , and boosting its efforts in fighting graft and depravation and bribery (Cooper Watts 2007 . This form _or_ system of government effort can absorb billions of dollars in foreign direct investment , which can be India s trump out answer to poverty and unemployment . On the other hand , the Philippine government has to combat corruption and red tape in to attract direct foreign investmentBefore Communist China part adopted capitalism , the Chinese economy was in tatters , flash was beyond control , and the country s social and governmental dodge in disarray , which led to school-age child protests and the massacre of student protesters in what is now known as the Tiananmen Square calamity (Selden , 1992 ,.37 .

In embracing capitalism , China had to consider policy reforms like the gradual recognition of property rights , which is one of the meaning(a) rights in a capitalist country . In his disputable book , former Chinese Premier Zhao Ziyang (2009 ,br 205 ) once advocated for the reintroduction of capitalism , as he saw that this scotch system could be the solution to China s economic ills in the pastDespite the many criticisms of capitalism , there is a need to look at its substantiating impacts on the modern world . Massive social , political and economic changes were seen in the past decades due to the widening beguile of capitalism all over the world . Some erst closed economies have adopted capitalism because of its many economic and social...If you want to get a full essay, order it on our website: Orderessay

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