Developed Country
Status depends mainly on a wide range of Economic Drivers. Sectors and
Industries that are mature enough to weather slowdowns and disruptions, while
generating operational profits and gross earnings, to contribute hard currency taxes,
at the very minimum, toward the nation’s Healthcare, Education and
Infrastructure. Underdeveloped nations must exploit #SYNERGIES to meet its
highly needed Revenue Earnings projections.
A nation’s Human
Resources is its main Revenue Driver, which sends the nation’s highly Skilled
and Professional People out to work, to earn local or foreign currencies, after
receiving basic healthcare and education, intensive training and with academic
and vocational experience. Another Revenue Driver is the Extractive Industry which,
locates and test the nation’s deposits of raw materials, to judge its viability
to mine or drill, process and sell, and generate income. The nation’s Manufacturing Sector is another
example of such a Revenue Driver, which combines many inputs to produce products
for local and foreign trade consumption and currency. An another such Revenue
Driver is the Tourism Industry which, combines accommodations, trade and
transportation involving the nation’s natural and man-made ecology, to earn
hard currency revenue.
Many
Nations include standardize education and basic health as a Social Service. Such is paid for by Tax
Revenues and delivered freely across its citizenry. Productive Academic and
Vocational Skills are valuable commodities, traded between employers and
employees. In many cases, Tax Revenues are utilized to embed such skills within
an individual and if employed locally, recipients of skills benefit, and repay
the nation by becoming Taxpayers. Brain-Drain is a term used to describe the flite
of skilled persons from any nation’s tax reach. In other words, after receiving
valuable training in one nation, contributing value in another while, ignoring
the development of the first nation.
The
future will see Training, Skills and Services merged into a Human Talent
sector. An Economic Driver, which seeks to sell and collect on its production
of skilled personnel, by contracting or seconding employment in other nations,
where a need can be found. Tax Revenue collected on behalf of such personnel,
trained and experienced but currently under or unemployed in the nation that originally
provided the training.
All
Nations depend too heavily on an Extractive
Industry, ignoring other drivers. Dependency on Revenue generated from Coal
mining, Crude Oil and Natural Gas drilling exploration, Metals prospecting, Quarrying
and Forestry, has been stripping the planet of its natural resources. The Human
need for energy; to generate electricity and power motors, for housing and
infrastructure, is well surpassing the planet’s capabilities. Noting that, Synthetic
materials are also initially formed from natural resources. An urgent call and purposeful
push toward greater use of renewable resources to supply energy and to find
ways and means to replenish the planet is being sounded internationally.
The
future must be based on more rehabilitation, replanting and repairs to the ecology.
Another Economic Driver, which seeks to develop technology to track, monitor
and report on global depletions. While, income from royalties would have to fund
academic studies, research and development, undertaking the mission to save the
planet. Remembering, Tax Revenue collection will have other hidden cost as
natural disasters increase.
Some
Nations, with Manufacturing Sectors,
tends to be easily satisfied with midstream drivers. Satisfied with the, so-called,
light manufacturing plants, which are only packaging operations supporting a small
trade distribution network. Importing components in bulk, employing mixing,
combining or any other light processing, to apportion the product into
consumer’s sizes, packaging and labeling the finish Good, which are then
distributed to be displayed on retail shelves. These midstream operations
leaves much of the product profits in the upstream processing, which is heavily
dependent on energy, and downstream, sale for consumption. Hence, much of the nation’s
potential tax revenue is also forgone.
The
future will bring full cycle, portable Manufacturing, with all factories being
located near to inputs. An Economic Driver, which seeks to purchase raw
materials, directly from its extraction point or harvesting silos, with heavy
processing and bulk packaging taking place upon the voyage to a consumption
market. Tax Revenue will therefore be collected on larger consumption sales and
gross profits.
A Majority of
Nations have and continue to survive on Trade, Tourism and Transport drivers. Long
embedded in economies: Trade, the exchanges of Goods and Services, has evolved
from friends bartering into sending purchase orders, receiving invoices and
confirming payments. Tourism, the welcoming of foreign travelers or visitors to
locally provided paid for care. And both with a vital need for Transportation of
Cargo and People. Together and inclusive of communications, all forming a Movement
Sector, which is still seen as the foundation of all economic drivers. A
healthy, educated person is a consumer, asking for, paying and receiving products.
The
future will cause Trade, Tourism and Transport to fuse into a just in time operation.
Operations, mainly driven by Information and Communication Technology, which
waits on consumers’ request or actions. A Smart Pod Home or Workstation will
recycle utilities, give its occupants, all access to healthcare, education and
infrastructure as daily routines are undertaken. Merging the Internet Of Things
(IOT) with human needs to be satisfied, wants to be filled, problems to be
solved and Taxes to be Paid.
Rationale
T.A.J
& Associates Company Limited
uses this occasion to comment on topics that have been covered, both academically
and by the mainstream media, to add its opinion and point out investment
opportunity, not to invoke any social action.
