Does foreign aid work? Or does it only help the rich country by keeping the poorer country dependent?
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Richer countries must help poorer countries. Following are the supporting grounds for my view point.
Today, the world is becoming more and more closely linked. However, billions of people still live in poverty, and in many places, the gap between rich and poor is widening. There are many reasons for helping poor countries. First of all, it is the humanitarian. Many industrialists donate in charity. Many feel it is religious, social, and moral duty to help the fellow countrymen who are the victims of famine, drought, war, or disease. The reason why many countries help poorer ones is for economic reasons. The donors may want to control the supply of commodities such as oil, water, or wheat. Alternatively, the richer country may want to ensure markets for their own products, whether these are planes, computers or shoes. However, aid is not necessarily the best way to help a country. It is a proven fact that billions of dollars of the aid invariably go into the valets of corrupt governments or administrative authorities. Poor and needy are never helped.
There are many other ways we can help poor countries. Opening up trade barriers, so that poor countries can sell their goods is one way. Another is to remove subsidies so that imported goods from poorer countries can compete fairly. A third method is to forgive debts. Many poor countries have huge interest repayments on old loans.
The needs of the poorer countries may seem obvious. However, though our humanity makes us want to help eliminate poverty and suffering, we must examine the real needs of poor countries and implement solutions that will benefit both them and us.
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