What type of Economy will Somalia likely have?

[Coeus]

Will it most likely have a resource based economy, where we use up the Oil and the minerals. While 90% of the population is unemployed?

Or what type of economy will Somalia likely have? (Of course after al shabab is eradicated, might be this year or after 10 years)

[qoraxeey]

CAPITALISM

[shidow1]

socialism Barre style....

[qoraxeey]

socialism Barre style....

[LiquidHYDROGEN]

CAPITALISM

MILK. I'm sorry I thought we were just typing random words .

On a serious note, Somalia already has an economy - albeit a crap one - comprised of telecommunications, internet providers and xawaalads, oh and selling sheep to fat arabs.

[qoraxeey]

CAPITALISM

MILK. I'm sorry I thought we were just typing random words .

.

[shidow1]

[Coeus]

socialism Barre style....

I would agree on you on that. Socialism atleast makes sure that the people work and aquire know-how. Swedish type of Socialism perhaps? And not the Chinese kind where its more like a dictatorship-capitalism.

[grandpakhalif]

We Somalis are very under developed so we cannot start with a resource based economy immediately. Firast we need to invest in priamary jobs, agriculture, fishing, meat, etc... This will get our economy rolling and our GDP will exponentially increase especially in the south where our fruits are in high demand. After 6-10 years of this once Somali cities are developed enough and small business flourishes we can start having secondary jobs such as manufacturing, construction, plumbing housing development etc... It will take a long while for Somalia to even catch up to New core nations such as Iran or India. This may take 15-20 years, finally we have a flourishing country with some sort of economic power. I expect there will be a housing boom and population to sharply increase, wealth will generate and soon enough we will have tertiarary jobs! Like teachers, doctoers, nurses bankers and we will finally be civilized

First we need to complete the first step which has started rolling with Al shabab's stablity and their low taxes...what I didn't like about the Kacaan is the communist aspect, Somalsi are very individualisitc business oriented people and hate too much government intervention, Somalsi will develop well under a modern mixed economy.

[grandpakhalif]

socialism Barre style....

Are you RETARDED that's what killed the Somali economy in the first place, there was a huge chokehold on businesses and only one city was developed by the government, Muqdisho! Imagine if we had a freemarketmost major cities would have been amazing! Socialism is what killed the economy!

[Coeus]

We Somalis are very under developed so we cannot start with a resource based economy immediately. Firast we need to invest in priamary jobs, agriculture, fishing, meat, etc... This will get our economy rolling and our GDP will exponentially increase especially in the south where our fruits are in high demand. After 6-10 years of this once Somali cities are developed enough and small business flourishes we can start having secondary jobs such as manufacturing, construction, plumbing housing development etc... It will take a long while for Somalia to even catch up to New core nations such as Iran or India. This may take 15-20 years, finally we have a flourishing country with some sort of economic power. I expect there will be a housing boom and population to sharply increase, wealth will generate and soon enough we will have tertiarary jobs! Like teachers, doctoers, nurses bankers and we will finally be civilized

First we need to complete the first step which has started rolling with Al shabab's stablity and their low taxes...what I didn't like about the Kacaan is the communist aspect, Somalsi are very individualisitc business oriented people and hate too much government intervention, Somalsi will develop well under a modern mixed economy.

I agree on most of the things you are saying. Indeed the basics are very important. Institutions for every sector is important. But what makes me wonder is, will the future leadership of Somalia take time and think before they act? What i mean is will the goverment make profitable and fair contracts regarding resources. Will they take one step further when it comes to making money? For example, instead of selling our minerals like other African countries frequently do, we could even carve the minerals and then sell them. Instead of selling fresh diamond stones from the cave, there could be institutions that also carve the diamonds and sell them. This was only a example. But if the future Somali goverment think through and really plan things and start to take advice from first world nations and set up effectivly anti corruption commites. Then Somalia dont have to wait 30-40 years until they are on the same level as Brazil or Iran. I could take merely 15 years before the wheel start rolling. Weapon manufacturing, fish sectors, oil, mineral resources. Plus the promising tourism. Alot of money to be made, that could make Somalia a giant in Africa.

Thats just my two cents.

[LiquidHYDROGEN]

We Somalis are very under developed so we cannot start with a resource based economy immediately. Firast we need to invest in priamary jobs, agriculture, fishing, meat, etc... This will get our economy rolling and our GDP will exponentially increase especially in the south where our fruits are in high demand. After 6-10 years of this once Somali cities are developed enough and small business flourishes we can start having secondary jobs such as manufacturing, construction, plumbing housing development etc... It will take a long while for Somalia to even catch up to New core nations such as Iran or India. This may take 15-20 years, finally we have a flourishing country with some sort of economic power. I expect there will be a housing boom and population to sharply increase, wealth will generate and soon enough we will have tertiarary jobs! Like teachers, doctoers, nurses bankers and we will finally be civilized

First we need to complete the first step which has started rolling with Al shabab's stablity and their low taxes...what I didn't like about the Kacaan is the communist aspect, Somalsi are very individualisitc business oriented people and hate too much government intervention, Somalsi will develop well under a modern mixed economy.

I agree on most of the things you are saying. Indeed the basics are very important. Institutions for every sector is important. But what makes me wonder is, will the future leadership of Somalia take time and think before they act? What i mean is will the goverment make profitable and fair contracts regarding resources. Will they take one step further when it comes to making money? For example, instead of selling our minerals like other African countries frequently do, we could even carve the minerals and then sell them. Instead of selling fresh diamond stones from the cave, there could be institutions that also carve the diamonds and sell them. This was only a example. But if the future Somali goverment think through and really plan things and start to take advice from first world nations and set up effectivly anti corruption commites. Then Somalia dont have to wait 30-40 years until they are on the same level as Brazil or Iran. I could take merely 15 years before the wheel start rolling. Weapon manufacturing, fish sectors, oil, mineral resources. Plus the promising tourism. Alot of money to be made, that could make Somalia a giant in Africa.

Thats just my two cents.

That's true. Right now, India mines it's minerals, refines them, then sells them off. We mustn't become a country that relies on it's natural resources, but rather use them to establish secondary and tertiary sectors from investment banks and services to manufacturing and labour. Our problem is that we lack proper leadership skills. Transparency is the way.

BTW are you studying econ?

[Coeus]

We Somalis are very under developed so we cannot start with a resource based economy immediately. Firast we need to invest in priamary jobs, agriculture, fishing, meat, etc... This will get our economy rolling and our GDP will exponentially increase especially in the south where our fruits are in high demand. After 6-10 years of this once Somali cities are developed enough and small business flourishes we can start having secondary jobs such as manufacturing, construction, plumbing housing development etc... It will take a long while for Somalia to even catch up to New core nations such as Iran or India. This may take 15-20 years, finally we have a flourishing country with some sort of economic power. I expect there will be a housing boom and population to sharply increase, wealth will generate and soon enough we will have tertiarary jobs! Like teachers, doctoers, nurses bankers and we will finally be civilized

First we need to complete the first step which has started rolling with Al shabab's stablity and their low taxes...what I didn't like about the Kacaan is the communist aspect, Somalsi are very individualisitc business oriented people and hate too much government intervention, Somalsi will develop well under a modern mixed economy.

I agree on most of the things you are saying. Indeed the basics are very important. Institutions for every sector is important. But what makes me wonder is, will the future leadership of Somalia take time and think before they act? What i mean is will the goverment make profitable and fair contracts regarding resources. Will they take one step further when it comes to making money? For example, instead of selling our minerals like other African countries frequently do, we could even carve the minerals and then sell them. Instead of selling fresh diamond stones from the cave, there could be institutions that also carve the diamonds and sell them. This was only a example. But if the future Somali goverment think through and really plan things and start to take advice from first world nations and set up effectivly anti corruption commites. Then Somalia dont have to wait 30-40 years until they are on the same level as Brazil or Iran. I could take merely 15 years before the wheel start rolling. Weapon manufacturing, fish sectors, oil, mineral resources. Plus the promising tourism. Alot of money to be made, that could make Somalia a giant in Africa.

Thats just my two cents.

That's true. Right now, India mines it's minerals, refines them, then sells them off. We mustn't become a country that relies on it's natural resources, but rather use them to establish secondary and tertiary sectors from investment banks and services to manufacturing and labour. Our problem is that we lack proper leadership skills. Transparency is the way.

BTW are you studying econ?

Yes that is what i mean. No i dont study economy in UNI. But i am very interested of economy, i read books about the topic. Its like a hobby. I just finished upper secondary school this summer. So i wont be entering UNI until next year.

Back to the topic. I have noticed that it is in the Somali culture to be traders. But never manufacturers. I think manufacturing should be strongly advocated in Somalia. India and China has a long history of manufacturing and trading even back to before the colonial times, when the westerners used to love the chinese and indian goods (still do lol). I think culture plays a good role in a country economy. And our religion and culture can play a good positive role in economic policies and the shaping of a desirable society.

[LiquidHYDROGEN]

Yes that is what i mean. No i dont study economy in UNI. But i am very interested of economy, i read books about the topic. Its like a hobby. I just finished upper secondary school this summer. So i wont be entering UNI until next year.

Back to the topic. I have noticed that it is in the Somali culture to be traders. But never manufacturers. I think manufacturing should be strongly advocated in Somalia. India and China has a long history of manufacturing and trading even back to before the colonial times, when the westerners used to love the chinese and indian goods (still do lol). I think culture plays a good role in a country economy. And our religion and culture can play a good positive role in economic policies and the shaping of a desirable society.

Yeah, somalis don't have a culture of manufacturing. But I think as soon as somalis in general become more educated they will be more open towards the idea of producing goods. Somalis are naturally curious, so it would be very easy - provided the money and the expertise is there - to establish research and technology institutions. Much like india is doing right now with IT and software and much like the east asians have been doing for decades with electronics and cars.

[Basra-]

Free market. Somalis need to be free to flourish.



How about government? It should have american style constitution written up with three branches of government- the legistlative, the executive and the judicial.