The missing ingredient as to why neither of the country is wealthy despite of its rich natural resources and human resources is the entrepreneurship. This process could be described as a way of starting or running a business in means of selling supplies to the consumers and for the beneficiary of the ones who started the business.
Russia and China have a solid level of capital and are rich in human resources and natural resources, but still not wealthy because of lack of entrepreneurship.
An entrepreneur has the ability and willingness to develop, plan and run a business venture, and any uncertainty of it to make a profit. An outstanding example of a business venture is the start of a new business venture.
The missing ingredient in both countries is entrepreneurship, which is limited in Russia due to corruption and in China due to excessive government interference and huge taxes.
Wealth can be increased if we encourage new businesses or startups in the country through which there will be mobilization of funds from the savers to users and money supply in the economy will increase.
Thus, the main reason behind Russia and China's less wealth is lack of Entrepreneurship.
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https://brainly.com/question/22477690
