Kazmia Revitalization
The leaders of Kazmia, a small nation in the southern hemisphere, have called a meeting to discuss ways to encourage foreign firms to invest in Kazmia. The country was once a leader in diamond mining and exports; however, the diamond mines have been depleted. Meanwhile the standard of living in Kazmia has plummeted to its lowest level, and young people are fleeing the country. Government leaders must devise a plan to reinvigorate the once prosperous nation.
-Which of the following countries would provide the best example for Kazmia for achieving substantial national competitive advantage?

Question

Kazmia Revitalization 
The leaders of Kazmia, a small nation in the southern hemisphere, have called a meeting to discuss ways to encourage foreign firms to invest in Kazmia. The country was once a leader in diamond mining and exports; however, the diamond mines have been depleted. Meanwhile the standard of living in Kazmia has plummeted to its lowest level, and young people are fleeing the country. Government leaders must devise a plan to reinvigorate the once prosperous nation.
-Which of the following countries would provide the best example for Kazmia for achieving substantial national competitive advantage?

Quizplus · Accepted Answer

Britain is known for its successful transition from an industrial economy based on coal and steel to a service-oriented economy, focusing on finance, technology, and creative industries. This demonstrates how a country can shift its economic base and achieve a competitive advantage in new sectors, which could serve as a model for Kazmia to diversify its economy away from diamond mining.

Kazmia Revitalization The Leaders of Kazmia, a Small Nation in the Southern