Question

What opportunities does Iraq have to increase its diversification? Explain your answer.

What natural resources does Iraq have that are not available in North America?

Answer 1

I'm not sure about land-wise for the economy, but definitely look into labor and capital. Iraq's population is one of the most triangular-exponential in terms of population pyramid. This means that the population there is increasing, and that's perhaps due to it's stage on the demographic transition model. In other words, at the end of the next decade, Iraq's population will nearly double from what it is now. So they have a lot of labor in the force.

Capital can come from anywhere, especially from the IT industry. Iraq can use its growing labor to start a major IT industry, which is actually in the process of what is going on there now. Wartorn countries are trying to use IT industry to allow development, because all it requires is labor and less resources, as compared to other fields.

Answer 2

In terms of natural resources, Iraq along with the rest of the Middle East is has its traditional Persian medical treatments. There are also mineral resources in Iraq that are not found in North America.