Most of the developing nations today are mostly consuming economies, import-oriented markets, weak national currencies, lower standards of living and poor workers' wages when compared to the developed nations or to the advanced economies of our 21st century human universe. The privatization policy of the World Bank, the IMF and the western financial institutions that were forced on the developing nations through those developmental loans that were given to them by these banks have never helped to advance the national economies of most of these countries and had never helped the majority of the citizens of these countries to move from poverty into financial abundance, prosperity and security. The indigenization policy that were also adopted locally by many of these developing nations ended up by creating the few super-rich citizens and wealthy locally owned businesses that have left hundreds of millions of workers from these countries with poor monthly wages and abject poverty.
Nationalization policy in my own judgement is the best way to go with these developing economies. The major national industries of these developing nations, such as energy, transportation, banking, oil and gas, mining, communications and natural resources should be nationalized instead of privatized or indigenized to primarily benefit the western lenders, multinational corporations and few wealthy local and foreign businessmen at the expense of the poor citizens of these developing nations. Profits from these nationalized national entreprises should be directed for the benefits of the citizens of these developed nations by spending them on job creation, social services, national infrastructural developments, public housing programs, universal health care, scientific research and development, education, agriculture that will lead to national food security, better wages for workers and decent retirement programs for retirees.
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