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?

It is a true fact that wealthier nations are getting wealthier, whereas, undeveloped countries are getting more poverty-stricken.

This

essay will discuss,

firstly

, the major cause of

this

issue as exporting

goods

and,

secondly

, how

this

issue can be tackled with the help of the country’s people in reducing import

goods

. The wealthy democracy of the world is having a great deal of money, resources and skilful people. Usually, raw materials are imported and furnished equipment are exported to the poor union.

Moreover

, the raw items are purchased at a cheap price and sold to other territories at a huge amount. Developing countries are forced to purchase at a heavy cost so as to fulfil the needs of its denizens.

Consequently

, making them economically weak. To illustrate, a state like Bangladesh has to completely depend on other states for getting electronics, automobiles and health equipment. The only solution to

this

problem is to increase the manufacturing of the required equipment. Decreasing the importation will help automatically reduce expenditure, which in result prevent the falling of the economy. As the majority of populace shall start producing finished

goods

with the available raw material, the need to get it from others will decrease.

As a result

, the difference between import and export shall gradually decrease. In India, to illustrate, a new initiative has been started of skill development by the governing authority. In result,during the covid-19 pandemic,the testing kits were manufactured in the country itself at a very reasonable cost without depending on another land. To conclude,

although

,

this

issue is a major concern, there are many ways to cope with it. One of the solutions to

this

problem is to manufacture

goods

that are required in the country itself without relying much on rich land. The government should introduce more and more schemes in promoting innovative startups.