Geography/Economics
Answers
Colombia is a Latin American country that could be classified as being in the capital intensive stage of economic growth. Colombia made incredible strides towards economic stability and development in the early 2000s by improving its foreign investment and industrial output, with investments in oil exploration, refineries, and manufacturing. Thanks to its rich natural resources, including oil and minerals, Colombia was able to make substantial investments in infrastructure and industry. This allowed the country to increase its average income, improve access to education and healthcare, and create an atmosphere that encouraged further investments in industry and natural resources. All these factors make Colombia a good fit for the capital intensive stage of economic growth.
