Last Updated on : 4/12/2013 10:49:48 PM
Although primary industries are important to developing countries, and particularly in Latin America, they have been largely unable to contribute to rapid growth. These industries induce premature de-industrialisation inhibiting the formation of a solid industrial base. Due to increased economic specialisation, natural resource-based economies will remain hosts for primary activities based on factor endowments. The worldwide increasing demand for natural resources means a challenge for these economies and an opportunity to spread industrialisation.

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