In recent years, the issue of natural resources has become increasingly important as primary means of countries’ income and economic development. On the one hand, it has positive effect for creating more job opportunities and diversity of resources make it reliable. On the other hand, completely depending on this would be risky because of its limits and damaging environment.
Economies based on using raw materials can have two significant benefits. Among those is employee creation as the main mean of income, who is also paying taxes to country. This can reduce poverty levels and contribute to economic stability, especially in overpopulated countries. For instance, Saudi Arabia did not use to be milliner’s country, yet it became one due to proper exploitation of fossil fuels. Additionally, many nations have variety of natural resources, which can be used in majority spheres. For example, in Kazakhstan there are a lot of chemical elements from the periodic table, which is used for selling to other countries.
Conversely, drawbacks of resource-orientated economies are not falling behind. If government exploits natural resources endlessly, it will face its limits in any case. Although scientists are trying to tackle this problem, there are no convincing solutions. Therefore, people should get used to conserve earth’s resources. Nature and bio-diversity are also at a disadvantage because of environmental degradation. Thus, animals are losing their habitats, land dries up, and water and air are polluted.
In conclusion, even though economies mostly rely on raw materials as its beneficial for employment opportunities and have variety of resources, it harms and depletes our planet.