Rich countries are getting richer while poor countries are getting poorer. What is the cause of this? What could be done to solve this problem?

Nowadays, wealthy nations are becoming wealthier and financially down countries are getting poorer.

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essay will discuss

cause

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the causes

causes

of

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development and solution to mitigate

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issue. Wealthy nations are spending and working

further

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on its economic sector, which makes them progress more and strengthening its economy. It is a known fact that

money

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produces

money

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by investing it in different sectors. Developed

counties

a politically organized body of people under a single government

countries

do not need

money

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from other countries and are independent in the economic domain and

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can achieve growth without requiring any assistance.

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, poor nations are getting financial assistance and loans from rich

countries which

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countries, which

makes them in debt, and in turn, result in higher taxes on all commodities. These taxes on different commodities bring a burden on the finance of government and public and

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makes them poorer. A recent report by the International Monetary Fund,

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, reported that countries who takes financial assistance from rich nations are getting financially down by 20% each year. Equal

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distribution is a critical way to solve the difference between rich and poor countries. Wealthy nations ought to assist financially the poor countries by giving

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to them and not taking it back.

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will not affect the economy of

developed

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developing

countries and poor nations will be able to decrease its financial strain, and

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will come out from financial problems. Research by the Economics Institute of London,

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, concluded a study that, if countries with more wealth gives 10% of their

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to the poor nations, they will get rid of financial problems. In conclusion, financially well nations working on strengthening their economy more and poor countries taking financial loans from developed countries are the reasons of rich countries become richer and poor countries become poorer. Even

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distribution by rich countries to the poor one’s is the main way to cope with

this

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issue.