25/03/2013 10:07 GMT | Updated 24/05/2013 06:12 BST

Current Developed Countries May Be Underdeveloped, After All

They are known as developed, industrialized, civilized countries mostly found in the northern hemisphere. These are the images and statuses that inform their gluttony, waste, extravagance, greed, pride, arrogance, consummation, and power. However, it also seems these are the pictures of nations that have actually lived up their tomorrow, today; depleted their resources; in debt; and borrowing more- from ECB, IMF, and China, to satisfy their gluttony. It is now ravelling that life is after all not as rosy as being painted, for these nations.

The United Sates is in debt to the tune of about 16 trillion dollars; and United Kingdom- one trillion pounds and counting; the list is almost endless. The latest EU serviced country to be in trouble is Cyprus, following Italy, Greece, Portugal, Ireland, and Spain and so on.

So, what is really happening in the Northern hemisphere? Why are nations referred as developed, in huge trouble? Is it because of the rise of China and India; the end of colonialism, and progressive coming to an end of neo-colonialism; and the decryption of western technological secrets by some emerging markets, leading to a new world economic order?

Colonialism guaranteed exploitation and expropriation of resources from other countries into the northern hemisphere. But it has now literally ended, creating a bit shortage in the largesse they bring. China and India to name a few are leading the decryption of western technological secrets. They are not only creating and re-creating technological manuscripts but adapting existing ones. Technological awareness and/or consciousness are growing in these countries and this is creating deep hole in the coffers of western treasuries, as the emerging markets become producers and not mere consumers of processed goods from nations in the northern hemisphere. In essence there seems to be a re-order of technological balance that is virtually creating internal imbalance, instability, deficit, debt, in old industrialized nations. They are now losing raw cash, money, influence, power and becoming dependent on the rising powers.

The only continent that has not lived up to expectation from the southern hemisphere is Africa. Their leaders are still stealing the children's bread and funds meant for scientific research, and depositing them in northern hemisphere. They are not reflecting on why they remain the beautiful bride exploited during colonialism, expropriated during neo colonialism and presently being used by China. While Africa is not being detected in the technological radar of the world, they are very visible in the corruption index. The next major revolution waiting to happen is African scientific and industrial revolution. This will further shake the very foundations of western arrogance, power and greed. This is because it will create more dents in the treasuries of Western nations as present multi nationals exploiting Africa, repatriate lesser profits back home.

It is now ravelling in the northern hemisphere that the perceived way of life- of life abundance is not sustainable. It is also becoming clear that power is shifting and will further shift, as new nations rise and learn to do their own things and not dependent on old powers. If people of the North do not start cutting their clothes according to their cloth, no one will do it for them. The only thing is that the present CUTS, cutting across the northern hemisphere may last longer as old powers seek upgraded adaptation to the new order. Consequently, the developed may become underdeveloped after all.

Austin Aneke is the author of Technology and Corruption and Editor of UK Immigrant Magazine